BoG registers over 100,000 collaterals for loans

The Collateral Registry Ghana (CRG) operated by the central bank has registered a total of 104,308 collaterals as at the end of March 2013. The Registry was started three years ago.

With those collaterals, the number of loans secured and registered under the CRG were nearly 50,000 (49,096), Governor of the Bank of Ghana, Dr Kofi Wampah announced May 8, 2013 at the launch of the redesigned web-based Collateral Registry for the country.

“By the end of March 2013, a total of 49,096 charges (secured loans) with 104,308 collaterals had been registered,” Dr Wampah said at the event.

Of the total collaterals, Dr Wampah indicated that 80.6% were movable assets, 13.3% were immovable assets and the rest consisted of both movable and immovable types.

The Governor further stated that there have been 14,608 searches conducted by lending institutions among others on the web-based collateral registry.

The BoG noted that almost 160 institutions have so far accessed the CRG for registration

By Ekow Quandzie