BoG expands credit reporting net to telcos, retailers and FinTechs

The Bank of Ghana (BoG) has called on telecommunications companies, financial technology firms, retailers and other institutions engaged in credit activities to participate in the country’s Credit Reporting System (CRS) to strengthen credit risk assessment and improve financial transparency.

In a public notice issued on February 6, 2026, the central bank reiterated that a broader category of institutions must participate in the credit information sharing framework established under the Credit Reporting Act, 2007 (Act 726) and the Credit Reporting Regulations, 2020 (L.I. 2394).

The directive builds on an earlier notice issued in 2021 that expanded the scope of institutions required to provide credit-related data to the national credit reporting framework.

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According to the central bank, the institutions required to participate include telecommunications companies, utility companies, retailers, mobile money operators, financial technology companies (FinTechs), government institutions that offer credit to micro, small and medium enterprises (MSMEs), institutions that provide identification documents, entities that supply goods and services on post-paid or instalment terms, and student loan schemes run by either public or private agencies.

Other entities that hold relevant data consistent with the permissible purposes of credit bureaus are also expected to participate.

The Bank of Ghana said the Credit Reporting System is designed to promote responsible lending and improve access to credit by enabling lenders to share information on borrowers’ repayment behaviour.

“The CRS is a framework established under the Credit Reporting Act, 2007 (Act 726) to promote the sharing of credit information of debtors with lenders and other users of the CRS,” the central bank said in the notice.

It added that the system benefits both lenders and borrowers by providing reliable information that can inform lending decisions.

“Credit information sharing is beneficial to both lenders and borrowers/debtors as it helps lenders/creditors to better assess the credit risk of each borrower/debtor,” the notice stated.

The BoG therefore urged all affected institutions to engage any of the three licensed credit bureaus in Ghana to facilitate their participation in the system.

The licensed bureaus are XDS Data Ghana Limited, Dun & Bradstreet Credit Bureau Limited and My Credit Score Limited.

Institutions may also submit requests for participation directly to the Financial Stability Department of the Bank of Ghana.

The central bank noted that participation in the system will enable institutions to obtain credit history data on prospective clients before establishing lending relationships.

“Participation will allow institutions to obtain information on the credit behaviour and repayment history of their clients prior to establishing credit relationships,” the notice said.

It added that the information supplied by participating institutions will also support prudent lending decisions across the financial ecosystem.

“Information they provide to the CRS on their customers’ credit behaviour helps other creditors make prudent credit decisions,” the Bank of Ghana added.

The move forms part of ongoing efforts by the central bank to strengthen Ghana’s credit infrastructure and deepen financial sector stability.

MA