BoG Governor lauds Collateral Registry for Deepening Financial Inclusion
Dr Johnson Asiama, Governor of the Bank of Ghana, has lauded the contributions of the Collateral Registry to the expansion of the frontiers of financial inclusion.
In an address read on his behalf by Dr Zakari Mumuni, the First Deputy Governor at the 15th anniversary Celebration of the Collateral Registry Department, Dr Asiama said beyond supporting formal banking processes, the Registry had improved access to credit for micro, small and medium-sized enterprises.
He said such enterprises, which often lacked traditional forms of collateral, could now use mobile access like stock receivables and tools of trade to secure credit.
"This is a significant step towards democratizing finance in Ghana. And by unlocking access to credit for the underserved groups, the registry has contribute...