In 2023, the Bank of Ghana reported receiving 13 applications from non-banking companies seeking recognition as data providers and authorized users of the Credit Reporting System (CRS).

Of these applications, eight were approved by the central bank. According to the BoG's annual report on credit activities, these approvals enable the respective companies to contribute data to credit bureaus and access credit information from them.

As of December 2023, a total of 33 companies had been officially designated as part of the system. The report explained that the approvals were granted based on the companies' involvement in trade credit or the processing of data essential to enhancing the credit reporting framework.

The approved institutions included retailers, fintech companies, and credit unions.

The Bank of Ghana also initiated discussions with the Microfinance and Small-Scale Loans Centre (MASLOC) and the Ghana Enterprise Agency to develop procedures for their participation in the CRS.

Additionally, the central bank began talks with the Electricity Company of Ghana (ECG) to further expand the system by incorporating relevant data for a more comprehensive CRS.

“The engagement, when completed, will allow ECG to submit credit information to credit bureaux to improve the credit reports of consumers and businesses.”