Ghana's Banks Are Not Lending Enough to Key Sectors
Bank lending is a crucial source of funding for Ghanaian businesses, covering operational expenses and investments in productive capacity expansion.
A recent study on the sectoral distribution of bank lending in Ghana revealed a sharp decline in lending to agricultural and manufacturing enterprises over two and a half decades.
- From 1999 to 2023, the share of total bank credit to the agricultural sector fell by about 65%.
- During the same period, the share of total bank credit to the manufacturing sector decreased by approximately 56%.
For instance, in 1999, about 25% of total bank lending went to manufacturing businesses, but by 2023, this figure had dropped to about 11%.
Author's summary: Ghana's banks are not lending enough to key sectors like agriculture and manufacturing.
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