Ghana currently holds the highest policy rate in Africa, translating to the most expensive cost of credit for borrowers. While the policy rate has decreased significantly – by 14 percentage points between January 2025 and May 2026 – average lending rates have not followed suit and remain elevated. This discrepancy indicates ongoing challenges within Ghana’s financial system impacting access to affordable loans. The situation suggests factors beyond the policy rate are influencing lending costs, potentially including bank operational expenses or risk assessments. Experts suggest this high cost of credit could hinder economic growth and investment within the country. Further analysis is needed to determine the specific reasons for the persistent high lending rates and potential solutions to alleviate the burden on borrowers. The continued high rates pose a challenge to Ghana’s economic recovery efforts.