The Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, says falling lending rates and stronger private sector credit growth are among the gains from recent macroeconomic management efforts, creating improved conditions for businesses to access financing and expand operations.
He said the average lending rate declined from 30.25 per cent in December 2024 to 15.78 per cent in September 2026, while growth in real private sector credit rose sharply from 0.20 per cent to 26.42 per cent over the same period.
Dr Asiama announced the figures at the launch of the maiden edition of Ghana in Numbers 2025, a publication by the Ghana Statistical Service (GSS), on Thursday, October 29.
He said the figures reflected improvements in credit conditions, alongside a sustained decline in inflation, relative stability in the exchange rate and greater resilience in the banking sector.
The Governor said maintaining a stable macroeconomic environment and a well-functioning financial system was important to expanding economic opportunities, particularly for young people seeking employment or looking to establish businesses.
Credit conditions improve
Dr Asiama said the gains recorded in the economy over the past couple of years were helping to create conditions for productive economic activity.
He noted that inflation had remained in single digits for 13 consecutive months, while the exchange rate had been relatively stable despite external pressures.
He also pointed to improvements in the resilience of the banking sector, which he said complemented the broader efforts to stabilise the economy.
The decline in average lending rates, from 30.25 per cent at the end of 2024 to 15.78 per cent in September 2026, represented a significant change in the cost of borrowing over the period.
At the same time, real private sector credit growth strengthened from 0.20 per cent in December 2024 to 26.42 per cent in September 2026.
The figures, he said, pointed to improved credit conditions that could support businesses and other productive activities.
Youth potential needs investment
Beyond the economic indicators, Dr Asiama said Ghana’s large youth population offered considerable potential for innovation and entrepreneurship, but realising that potential would require deliberate investment in skills and enterprise development.
He said young people needed relevant training, access to opportunities and an environment that encouraged investment and business growth.
Achieving those objectives, he added, would require coordinated action informed by reliable data on the circumstances of young people, the gaps in opportunities available to them and the policies needed to address those gaps.
He said Ghana in Numbers could support that process by bringing demographic, social and economic information together to inform national debate and policy decisions.
The Governor also highlighted the importance of access to finance in helping young people turn business ideas into viable enterprises.
Expanding financial inclusion
Dr Asiama said the Bank of Ghana was pursuing complementary initiatives to improve financial inclusion and financial health while encouraging responsible innovation in the financial sector.
The initiatives are intended to make formal financial services more accessible, affordable and convenient, particularly for young people, women, micro, small and medium-sized enterprises (MSMEs) and underserved communities.
He said a stable economy and an effective financial system were important to ensuring that more people and businesses could participate in productive economic activity.
The Governor urged stakeholders to view Ghana in Numbers 2025 as more than a statistical publication, describing it as a national resource for assessing the country’s circumstances, measuring progress and making informed decisions about the future.
He congratulated the GSS, its Governing Board and Management, as well as the institutions and individuals who contributed to the publication.
Dr Asiama expressed the hope that the report would become a trusted national reference for strengthening transparency, supporting evidence-based policymaking and promoting a more productive and inclusive economy, particularly for young people.
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