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Bank of Ghana to Modernize Collateral Registry With AI Integration

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Bank Of Ghana
Bank Of Ghana

The Bank of Ghana has announced plans to integrate artificial intelligence and other advanced technologies into its Collateral Registry system, aiming to strengthen the country’s credit infrastructure.

First Deputy Governor Dr. Zakari Mumuni revealed the modernization roadmap during the Registry’s 15th anniversary celebration, emphasizing its role in expanding financial inclusion.

“These technological upgrades will enhance efficiency, security and user experience,” Mumuni stated while delivering Governor Dr. Johnson Asiama’s address. The initiative builds on the Registry’s established success since its 2010 launch under the Borrowers and Lenders Act, which revolutionized credit access by allowing movable assets like vehicles and inventory to serve as loan collateral.

The Bank will collaborate with domestic institutions including the DVLA and Lands Commission, alongside international partners like the International Finance Corporation, to implement global best practices. The Registry has already streamlined credit processes through 4,450 Memoranda of No Objection, enabling faster asset recovery for lenders.

This technological transformation comes as Ghana accelerates its digital finance agenda, with the upgraded Registry positioned to further support MSME financing and broader economic growth. The AI integration specifically aims to reduce processing times and improve risk assessment capabilities for financial institutions.

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