Commercial banks in Ghana have begun actively reaching out to customers with fresh loan offers, signalling a turnaround in credit conditions following recent monetary policy easing by the Bank of Ghana (BoG).
The renewed lending activity was disclosed by the Governor of the Bank of Ghana, Dr Johnson Asiama, during the 128th Monetary Policy Committee (MPC) press briefing held in Accra on Wednesday. According to the central bank chief, banks are now showing stronger appetite to extend credit as liquidity conditions improve and balance sheets stabilise.
Dr Asiama revealed that financial institutions are no longer waiting for loan applications but are proactively contacting customers with reduced borrowing costs. He cited examples of banks offering loans at rates as low as 15 per cent, reflecting a sharp shift from the high-interest environment that previously constrained credit growth.
Brandspur Banking News Desk reports that the renewed lending momentum follows the BoG’s decision to cut the Monetary Policy Rate by 250 basis points, bringing it down from 18 per cent to 15.5 per cent. The move marks the central bank’s first policy adjustment of 2026 and builds on a larger 350-basis-point cut implemented in November 2025.
The central bank said the latest rate reduction was informed by easing inflationary pressures and improved macroeconomic indicators. Forecasts and inflation expectation surveys suggest that headline inflation is likely to remain within the medium-term target range, despite risks linked to utility tariff adjustments and global commodity price volatility.
Dr Asiama noted that Ghana’s economic outlook remains positive, with GDP growth expected to stay strong in 2026. He acknowledged that narrowing output gaps could introduce moderate demand-side pressures but stressed that overall monetary conditions remain sufficiently tight to manage inflation risks.
The Governor added that the policy stance reflects the BoG’s commitment to supporting economic expansion and private-sector credit while maintaining price stability. He emphasised that sustained gains will depend on disciplined fiscal management, effective policy coordination, and targeted agricultural interventions to curb food inflation.
With borrowing costs declining and banks increasingly willing to lend, analysts expect private-sector activity to accelerate in the coming months, potentially boosting investment, consumption and job creation across the Ghanaian economy.
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