Loan Rates Drop, Banking Assets Increases, and Atuabo Gas Plant Faces Shutdown

bernard boateng
Aug 12
2 min read

Ghana’s economic and market landscape continues to evolve with significant developments in interest rates, financial sector growth, and energy infrastructure. Here are the top updates.

Republic Bank and Bank of Africa Lead with Lowest Loan Rates

The latest Annualized Percentage Rates (APR) report from the Bank of Ghana shows Republic Bank and Bank of Africa offering the lowest interest rates on loans for individuals as of June 2025.

Bank of Africa is offering an interest rate of 20.22 percent for its one-year tenor, while Republic Bank provides a 21.43 percent rate for its three-year term.

The APR reflects the real cost of borrowing, incorporating the Ghana Reference Rate, bank-specific risk premiums, and other charges. The Bank of Ghana notes that actual rates can vary depending on a borrower’s profile and the bank’s assessment.

Financial Sector Assets Surge to GH₵525.59 Billion

Ghana’s financial sector ended 2024 on a strong trajectory, with total assets climbing 34.6 percent to GH₵525.59 billion, up from GH₵390.17 billion in 2023, according to the 2024 Financial Stability Review.

Banks remain the sector’s dominant force, holding 76.4 percent of all financial assets. Pensions follow with 16.4 percent, securities at 3.8 percent, and insurance at 3.4 percent.

Interconnections within the system are expanding. Banks’ exposure to other financial institutions increased to GH₵286 million, mostly linked to the securities market, while other financial institutions’ exposure to banks surged to GH₵11.56 billion.

Atuabo Gas Processing Plant Scheduled for Maintenance

The Ministry of Energy and Green Transition has approved a scheduled maintenance shutdown for the Atuabo Gas Processing Plant from August 16 to 30, 2025.

According to Ministry Spokesperson Richmond Rockson, the maintenance will include inspections, repairs, and system upgrades to improve efficiency and reliability.

While gas supply will be temporarily halted, alternative fuel measures are in place to limit disruptions to the electricity supply nationwide. The Ministry has assured the public of regular updates during the two weeks.

Market Snapshot – August 12, 2025

Jaama Soap: GH₵2.00 (unchanged since Dec 2024)
T-Bill (364-day): 13.10% (down from 27.86% in Aug 2024)
USD/GHS: GH₵10.61 (BoG Interbank Selling Rate)

Investor Insight – Fish Farming Gains Momentum

Ghana’s fish farming industry is on a growth path. Output has nearly tripled since 2013, reaching 90.7k metric tonnes in 2023. Projections suggest production will grow at 4.32 percent annually to 119.22k metric tonnes by 2028.

This growth opens investment opportunities in aquaculture, feed production, and cold-chain infrastructure.