BoG, AGI sensitise businesses on Borrowers and Lenders Act, Collateral Registry

The Bank of Ghana (BoG), in collaboration with the Association of Ghana Industries (AGI), has organised a sensitisation programme to deepen understanding of the Borrowers and Lenders Act, 2020 (Act 1052) and the operations of the Collateral Registry.

The event was held on Tuesday, September 29, 2026, in Kumasi in the Ashanti Region, and brought together officials from the two institutions and other stakeholders.

Speaking to OTEC News on the sidelines of the event, the Chairman of the Agribusiness Sector of the AGI, Williams Agyei Manu, said the programme was aimed at helping members understand how to secure loans for their businesses.

“As business entities, we always encounter problems when securing loans for our work, so it was imperative for the Bank of Ghana to train us on our rights and how to get loans for our businesses,” he said.

He expressed gratitude to the Bank of Ghana for the training, adding that it had improved members’ understanding of how to secure loans from banks.

For his part, the Assistant Director in charge of the Ghana Collateral Registry Department, Alexander Koomson, said the laws governing the operations of the BoG require businesses and individuals to register properties used as collateral with the department.

He explained that after registration, the Ghana Collateral Registry publishes information on the properties to help members of the public make informed decisions.

“We publish properties used as collateral to prevent the owners or other individuals from using the same property as collateral.”

“This means individuals can go into our system and check a particular property to find out if it has already been used as collateral,” he explained.

He urged members of the public to take advantage of the provision to avoid legal problems associated with the use of collateral.