CIB Ghana survey shows universal banks lower rates faster than microfinance

A survey presented by the Chartered Institute of Bankers (CIB) Ghana has revealed a significant disparity in how monetary policy changes affect different tiers of the banking sector. The study, discussed at a recent CIB seminar, indicates that interest rate reductions reach customers of universal banks more rapidly than those borrowing from community and microfinance institutions. This finding highlights a persistent delay in monetary policy transmission within the smaller-scale lending sector, even when the broader economy shows signs of stabilization.

The discussion was held in the context of recent decisions by the Bank of Ghana, which kept its policy rate at 14.0% on September 24, 2026. Governor Dr. Johnson P. Asiama noted during the seminar that shifts in central bank policy do not translate into immediate benefits for all borrowers across the board. The survey findings confirmed high lending rates among microfinance and community banks, suggesting that smaller lenders are slower to adjust their pricing models following policy shifts compared to their larger counterparts.

Dr. Ellen Ohene-Afoakwa of CIB Ghana emphasized the need for financial institutions to support productive sectors of the economy through responsible lending. While the survey indicated that banks are generally confident in the current macroeconomic environment, there are widespread expectations of rising inflation in the upcoming months. Dr. Ohene-Afoakwa urged the industry to manage credit growth carefully to avoid systemic risks while ensuring that liquidity continues to flow to essential sectors.

The seminar is part of a series of events leading up to the annual Bankers Week, which aims to enhance banking education and professional standards in Ghana. The findings underscore the challenge of ensuring that the benefits of a stable monetary environment reach all segments of the population. As the industry moves forward, closing the transmission gap remains a priority to ensure that micro-enterprises and rural communities served by smaller lenders are not disadvantaged by slower interest rate adjustments.