Ghana’s formal credit access has expanded significantly, with 74% of adult borrowers now using regulated channels, according to the World Bank’s Global Findex 2025 report.
A key driver is mobile money lending, utilized by 22% of Ghanaian adults up sharply from prior years. The trend reflects broader financial inclusion gains across Sub-Saharan Africa between 2021 and 2024.
The data reveals persistent gender disparities: Ghanaian women are 4 percentage points less likely than men to borrow via mobile money. Gaps widen regionally, reaching 16 points in Kenya and 13 in Uganda. Income divides also persist, with adults from the poorest 40% of households less likely to access digital loans than wealthier groups.
Notably, the report identified a nascent form of digital borrowing loans via mobile phones outside traditional accounts or institutions. While only 1% of adults in low-to-middle-income economies use this channel, Sub-Saharan Africa shows higher uptake (3%). All seven countries globally where ≥5% of adults reported such borrowing are African.
The World Bank clarified these non-traditional loans aren’t classified as “formal” due to uncertain provider identities and regulatory scale. “Although this digital credit source is one to watch, it’s excluded from our formal borrowing definition,” the report stated.
