Corporate loans · 5 years
The same loan,
three times the price.
Cheapest bank
13.16%
Dearest bank
35.52%
Banks compared
10
On a GH₵100,000 facility that difference is about GH₵22,360 a year — for the same money, over the same term, from banks the same regulator licenses.
These are indicative rates, not offers. Bank of Ghana publishes them so borrowers can compare. What any bank actually offers you depends on its assessment of your business — your trading history, security, and accounts. Treat this as where to start asking, not what you will pay.
- 1
Ecobank Ghana
Corporate · 5 years
13.16%
all-in cost a year
Advertised rate 12.31% — fees add 0.85 points.
- 2
Stanbic Bank Ghana
Corporate · 5 years
13.80%
all-in cost a year
Advertised rate 13.75% — no additional charges reported.
- 3
GCB Bank
Corporate · 5 years
13.83%
all-in cost a year
Advertised rate 13.63% — fees add 0.20 points.
- 4
First Bank Ghana
Corporate · 5 years
13.84%
all-in cost a year
Advertised rate 13.03% — fees add 0.81 points.
- 5
Societe General Ghana
Corporate · 5 years
14.03%
all-in cost a year
Advertised rate 13.53% — fees add 0.50 points.
- 6
Republic Bank (Ghana)
Corporate · 5 years
14.16%
all-in cost a year
Advertised rate 13.52% — fees add 0.64 points.
- 7
Access Bank Ghana
Corporate · 5 years
18.68%
all-in cost a year
Advertised rate 18.68% — no additional charges reported.
- 8
Agricultural Development Bank
Corporate · 5 years
18.92%
all-in cost a year
Advertised rate 18.00% — fees add 0.92 points.
- 9
Zenith Bank (Ghana)
Corporate · 5 years
21.81%
all-in cost a year
Advertised rate 21.60% — fees add 0.21 points.
- 10
United Bank for Africa (Ghana)
Corporate · 5 years
35.52%
all-in cost a year
Advertised rate 35.00% — fees add 0.52 points.
If a loan is the wrong instrument
Everything above is bank credit — you borrow, you repay, you keep the business. Ghana also has nine private funds licensed by the Securities and Exchange Commission that provide equity and private debt: they take a stake, or lend on terms negotiated per deal, and they expect to exit in five to ten years.
It suits a different situation. A bank wants security and repayment from cash flow. An equity investor wants growth and does not want the money back next year — which is the right shape for a business that will lose money while it scales, and the wrong shape for one that simply needs working capital.
The first thing to check is the size
Two of the nine publish what they invest. Wangara Green Ventures state US$50,000 to US$500,000. Growth Investment Partners state the cedi equivalent of US$500,000 to US$5 million, with follow-on of up to US$5 million more.
At current rates the smallest published ticket is around GH₵570,000 — over five times the GH₵100,000 the loan comparison above assumes. If you need less than that, this route is probably not open to you, and the banks above are where to look.
The nine, by what kind of capital they provide
From the Securities and Exchange Commission’s register of licensed private funds, with what we could find on each of their own sites in September 2026. Websites are the ones the register gives.
Debt — you keep the business
Lends rather than taking a stake. The closest of these to a bank loan, and the only route here that does not cost you ownership.
Origen Private Debt Fundashfieldinvest.com
Nothing found on ticket size or how to apply. The register gives a website whose domain does not match the fund name, so this may not be theirs.
Growth and expansion capital
For businesses already trading and profitable, raising to expand. Larger cheques, and they will expect a board seat.
Growth Investment Partners Ghanagipghana.com
Invests US$500,000 – US$5m, plus follow-on up to US$5m more
Sector stated. Visible route to make contact.
Mirepa Capital SME Fund 1mirepaglobal.com
Backs small and medium businesses, by its own name. Nothing found on ticket size, stage or how to apply.
Venture capital — early stage
For businesses that will lose money while they grow. They expect most of their investments to fail and a few to pay for the rest, which shapes what they look for.
Injaro Ghana Venture Capital Fundinjaroinvestments.com
Stage and sector stated. Visible route to make contact.
ISF Ghana Venture Capitalimpcapadv.com
Stage and sector stated. Visible route to make contact.
Ci GABA VCsiaghana.com
Sector stated. Visible route to make contact.
Oasis Africa VC Fundoasiscapitalghana.com
Nothing found on ticket size, stage or how to apply.
Oasis Africa VC Fund IIoasiscapitalghana.com
Same manager and site as the fund above.
Climate and green ventures
Venture capital with a stated environmental focus. If your business does not fit that, this is not your fund whatever its cheque size.
The groupings are ours, drawn from each fund’s own name and what its site states. Several do not describe themselves in these terms, and a fund that says nothing about its stage may well invest across more than one of these. Ask before assuming.
All nine have working websites — which, set against the twenty-three licensed stockbrokers where six of the registered sites did not respond, is worth noting.
Before you approach one
- Check they are licensed. The SEC maintains the register of licensed private funds, and has been warning the public about unlicensed investment schemes. A fund that is not on the register is not one to take money from or give equity to.
- Understand what you are giving up. Equity is not cheaper money — it is a share of everything the business earns afterwards, permanently, plus a say in how it is run. On a business that succeeds, it is usually the most expensive capital there is.
- Ask about the exit. These funds have a fixed life and must return money to their own investors. What that means for you in year five is a question to ask in year one.
Nine funds, from the Securities and Exchange Commission’s register of licensed private funds. Ticket sizes as published by the two funds that state them, read from their own sites in September 2026. We are in contact with providers to close the gaps, and publish whatever they send, cited and dated.
If a bank turns you down
Ghana has twenty-six licensed savings and loans companies. They take deposits and lend, they are regulated by Bank of Ghana, and they are where a great many businesses go when a bank declines.
Bank of Ghana publishes a monthly APR table for banks. It publishes no equivalent for these, so there is no official comparison to draw on. We checked all twenty-three of their working websites instead.
Cheaper than a bank is not what the evidence suggests
Three of the twenty-three publish a lending rate. Adehyeman Savings and Loans state 42% on a public sector loan, with a 2% processing fee and a 1% monitoring fee on top.
For the same kind of loan, a salary loan to a public servant repaid through the government payroll, Sinapi Aba’s tariff guide gives 40%, with no processing fee listed, and First Atlantic Bank charges 36.5%, with the heaviest fees of the three (2.5% upfront, 3% of every monthly repayment and 1% management). The cheapest on interest is the dearest on fees, and none publishes enough to compare the total cost. Corrected 24 September 2026, when this compared Adehyeman with a small-business loan average, and 26 September 2026, when our document scan found Sinapi Aba’s guide.
What the three publishers actually say
Adehyeman Savings and Loansadehyeman.com
42% on a public sector loan · 2% processing · 1% monitoring
A rate and an itemised fee breakdown, in public, without asking. Among banks, First Atlantic’s tariff guide does the same for a dozen loans, and Republic for its mortgages.
Sinapi Aba Savings and Loanstariff guide, 1 June 2026
40% on salary loans (public servants, up to 48 months) · no processing fee listed · most business loans 40% plus 3.5% processing and 1.5% facility
A full tariff guide covering every loan product, described by Sinapi Aba as indicative rates. Found by our document scan in September 2026.
Jins Savings and Loansjinssavingsandloans.com
3.5% business · 4% personal · 4.5% micro — period not stated
Their FAQ gives these figures and does not say whether they are monthly or annual. Monthly is the convention in this sector and would put them near 42% a year; annual would make them cheaper than every bank in Ghana, which is not plausible. We have asked, and will publish the answer. Minimum deposit GH₵20 to open an account, GH₵40 for an SME account.
All twenty-six, and what each publishes
From Bank of Ghana’s register of licensed savings and loans companies. We visited every website listed and recorded what we could find on rates, minimums and how to apply, in September 2026.
Adehyeman Savings and Loansadehyeman.com
42% on a public sector loan, 2% processing, 1% monitoring
One of two unambiguous rates across the twenty-six, with Sinapi Aba's.
Sinapi Aba Savings and Loanssinapiaba.com
40% on salary loans to public servants (up to 48 months), no processing fee listed; most business loans 40% plus 3.5% processing and 1.5% facility
Tariff guide dated 1 June 2026, described by Sinapi Aba as indicative rates. Found by our document scan, September 2026.
Jins Savings and Loansjinssavingsandloans.com
3.5% business, 4% personal, 4.5% micro — period not stated
Also publishes minimum deposits: GH₵20 to open, GH₵40 for SME.
Izwe Savings and Loansizweghana.com
Publishes a minimum and an application route. The percentage on their site appears to be a loan-to-value ratio rather than a rate.
Affinity Ghana Savings and Loansaffinityghana.com
Publishes a minimum. Percentages appear on the site but not in a form we could read as a lending rate.
Bayport Savings and Loansbayportghana.com
Sixteen pages checked. Application route published, no rate found.
Advans Ghana Savings and Loansadvansghana.com
Application route published, no rate found.
Direct Savings and Loansdirectgh.com
Application route published, no rate found.
ABii National Savings and Loansabiinational.net
No rate, minimum or application route found on their site.
Best Point Savings and Loansbestpointgh.com
No rate, minimum or application route found on their site.
Bond Savings and Loansbond.com.gh
No rate, minimum or application route found on their site.
Equity Savings and Loansequitygh.com
No rate, minimum or application route found on their site.
Golden Link Savings & Loansgoldenlinkghana.com
No rate, minimum or application route found on their site.
Golden Pride Savings and Loansgoldenpride.com.gh
No rate, minimum or application route found on their site.
Multi Credit Savings & Loansmcslghana.com
No rate, minimum or application route found on their site.
Opportunity International Savings and Loansopportunityghana.com
No rate, minimum or application route found on their site.
Pacific Savings & Loanspacificsavingsandloansgh.com
No rate, minimum or application route found on their site.
Pan-African Savings and Loanspanafricansl.com
No rate, minimum or application route found on their site.
Progress Savings and Loansprogressghana.com
No rate, minimum or application route found on their site.
SIC Life Savings and Loanssiclifesl.com.gh
No rate, minimum or application route found on their site.
The Seed Funds Savings and Loanstheseedfunds.com
No rate, minimum or application route found on their site.
Asa Savings and Loansasasavingandloans.com
The website on the register did not respond when we checked. They may have moved to a new domain.
Letshego Savings and Loansafb.com.gh
The website on the register did not respond when we checked. They may have moved to a new domain.
BRAC Ghana Savings and Loans
No website on the register. Contact by email or telephone.
Services Integrity Savings and Loans
No website on the register. Telephone only.
Utrak Savings and Loans
No website on the register. Contact by email or telephone.
This list will get better
We are asking every one of these twenty-six for their lending rates, fees, minimums and what a borrower needs to qualify — and we publish whatever comes back, cited and dated, at no cost to them. Three publish a lending rate. For the other twenty-three, ask for the rate, the fees and the minimum before you apply.
If you run one of these firms, or you have been quoted by one, send us the figures and we will publish them beside your name.
And the other twenty-three
Twenty working websites publishing no rate at all, and two whose registered sites did not respond when we checked. Three publish a minimum loan. Several have an application form and no indication of what applying would cost.
We are in contact with providers to close the gaps, and publish whatever they send, cited and dated.
Before you sign with one
- Ask whether the rate is monthly or annual. It is the single most important question here, and the difference is a factor of twelve. A rate quoted without a period is not a quote.
- Ask for the all-in cost. Processing and monitoring fees are charged on top of the rate. Adehyeman and Sinapi Aba publish theirs; ask any other lender for theirs in writing.
- Ask a bank first, even if you expect a refusal. The cheapest bank on this page charges 11.03%. If any bank will lend to you, it is likely to cost a fraction of what these do.
- Check the licence. Bank of Ghana publishes the register of licensed savings and loans companies. Firms outside it are not supervised, and the sector has a history of collapses.
Twenty-six companies from Bank of Ghana’s register of licensed savings and loans companies. Rates as published by the three that state them, read from their own sites in September 2026. Microfinance institutions and money lenders — several hundred of them, mostly small and regional — are a separate register and are not covered here.
Know somebody about to borrow? Send it to them.
About this data
Free to quote · no permission needed
- Source
- Bank of Ghana, Annual Percentage Rates and Average Interest Rates
- Covering
- May 2026
- Last checked
- September 2026
- Method
- Extracted from the Bank of Ghana return and held as a series across three credit types and three terms. Figures are averages across each bank’s whole book and are indicative, not quotes.
Cite this
Ghanaian bank lending rates, every bank in Bank of Ghana’s return, May 2026. Compiled by Cedafin from Bank of Ghana, Annual Percentage Rates and Average Interest Rates. https://cedafin.com/funding (accessed 17 October 2026).
Use any of this without asking. No permission needed, no credit required — the line above is offered because a formatted citation is easier than composing one, not because we ask for it.
Why this is a page and not an article
Bank of Ghana publishes these returns monthly and Ghanaian media report them when the figures are striking. Those reports are accurate and they go out of date the day after publication.
This page is the data rather than a report of it — extracted on a schedule, held across three credit types and three terms, and dated so you can see when it was last true. When the Bank publishes again, this changes. An article about May does not.
What this page doesn’t show
- Whether you’ll qualify. The binding question for most Ghanaian businesses isn’t the rate, it’s access. Bank capital rules make small loans costly to process, so many applications are refused regardless of the business.
- Microfinance and money lenders. Several hundred licensed institutions, mostly small and regional, sit on a separate Bank of Ghana register and are not covered here. Neither are digital lenders. Both are outside the APR report, and both are where businesses refused by a bank often end up.
- Security and covenants. What a bank asks you to pledge can matter more than the rate.
Not licensed by the Securities and Exchange Commission of Ghana. We publish factual comparisons of regulated products and do not provide investment advice, hold client money, or execute transactions. We are not a credit broker and do not arrange finance.