The Bank of Ghana (BoG), in collaboration with the Association of Ghana Industries (AGI), has organized a sensitization programme aimed at deepening 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 top officials from the two institutions and other stakeholders.
Speaking to OTEC News on the sidelines of the event, the Chairman of the Agribusiness Sector for AGI, Mr. Williams Agyei Manu, said the programme was to afford members understanding of 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 the platform has improved their understanding of how to secure loans from banks.
For his part, the Assistant Director in charge of the Ghana Collateral Registry Department, Mr. Alexander Koomson, said laws guiding the operations of BoG enjoin businesses and individuals to register collateral properties with their outfit.
He noted that the Ghana Collateral Registry Department, after registration, will publish these properties to guide the public in their decision making.
“We publish properties used as collateral to prevent the owners or other individuals from using the same property as collateral.”
“So individuals can go into our system and check for a particular property to find out if such properties have already been used as collateral,” he explained.
He called on members of the public to take advantage of this provision to avoid legal problems associated with collaterals.
Source: Ghana/otecfmghana.com/Jacob Agyenim Boateng
