Debt Collection Ghana | Cedar Financial

Recover More Funds in Ghana

Local Ghana debt collection you can trust.

Doing business in West Africa comes with a greater risk of nonpayment. Cedar Financial can help you reduce risks, improve DSO and increase cash flow with:

  • Vetted local offices specialized in Ghana debt recovery
  • Experienced creditor’s rights attorneys in Ghana
  • In-person field visits and Ghana credit reports

We have local experts in all 10 regions, including Accra, allowing us to recover more of your funds in less time. Whether your claim is new or old, large or small, consumer of commercial, our “People-First” approach is proven to get results.

See why Fortune 500 companies trust us with their accounts in Ghana.

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Top Challenges in Ghana Debt Collection

Language & Cultural Barriers

Ghana’s population includes a diverse mixture of ethnic, linguistic and religious groups.

While English is the official language, Ghana is multilingual, with over 80 languages spoken. Akan is the most widely spoken indigenous language and ethnic group. Most of the population is Christian, with about 17% Muslim and 5% traditional faiths.

Creditors see higher rates of success working with local debt collection experts. Cedar Financial’s debt collection agency in Ghana can help you effectively navigate disputes in the language and time zone of your debtor for faster recovery of your funds.

Contact us today to get started.

High Commercial Risk in Ghana

While Ghana has successfully ensured economic growth in recent years, there is still considerable commercial risk for businesses due to its exposure of external debt (50%) to foreign exchange liquidity, share of commercial loans (50% of external debt), low international reserve coverage and persistent fiscal deficits.

Due to an overreliance on commodity exports, Ghana is particularly susceptible to volatile price movements caused by external factors, such as negative foreign investor sentiment, capital outflows, exchange rate pressures and weaker demand. High numbers of non-performing loans have made debt collection agencies in Ghana more crucial than ever, especially in the banking sector.

If you are doing business in Ghana, Cedar Financial can help you reduce risks, improve Days Sales Outstanding (DSO) and increase cash flow. We offer a full range of accounts receivable management solutions, including international credit reports, in-person field visits, expert collections services and more.

To see how we can help you, schedule a free consultation today.

Little Regulation in Debt Collection Industry

As Ghana has come to rely more on local debt collection agencies to recover non-performing loans, a lack of regulation in the industry has led to questionable conduct, which can harm well-meaning creditors’ reputations.

There is no legislation or regulatory body to define and enforce debt collection practices in Ghana. In addition, there are no eligibility requirements for regulatory licenses, which means there is no way to verify expertise or background. Unethical conduct has been known to occur, including improper book-keeping, collecting the more than is owed and collecting without power of attorney.

To avoid harming your reputation, it’s important to hire a well-vetted Ghana debt recovery agency.

As a member of ACA International and TCM Group, Cedar Financial is a trusted partner for all your international debt collection needs. Our local offices are carefully selected and monitored for quality assurance. Each Ghana collection agent is contractually bound to adhere to strict operational and ethical standards, ensuring that your good name stays protected throughout the debt collection process.

Submitting claims is fast and easy.

Litigation in Ghana

While every effort is made to resolve accounts amicably, sometimes a firmer approach is needed. Here’s what you need to know about the legal process in Ghana.

Avenues for Legal Recovery in Ghana

If your debtor is not responsive to a collections demand letter, there are several avenues for pursuing your claim through the legal system in Ghana:

  • Filing a writ of summons: Informs the debtor that action has been taken against them by the creditor. The debtor must appear to dispute the claim (usually within eight days of service) or a judgment will be given.
  • Application of summary judgment: A summary judgment enables a creditor to obtain a quick judgment and avoid a full trial when they believe the debtor has no defense to the claim. The application should be supported by documentation, such as agreements, contracts, letters, invoices and court records.
  • Application of Mareva Injunction: If there is a risk or suspicion that the debtor may try to move or dispose of assets prior to a court decision, rendering any judgment null, the creditor can apply for a Mareva Injunction to preserve the debtor’s assets until the final determination of the suit.

Once a judgment is obtained, it can be enforced through a Writ of Execution in two ways:

  • Writ of Fieri Facias (fi fa): Enforces a money judgment by the seizure and sale of the debtor’s property to satisfy the judgement debt, interest and cost.
  • Garnishee Proceedings: The judgment-creditor may attach debts due in satisfaction of the judgement debt. The garnishee (for example, a bank account) must then pay the judgment-creditor.

Cedar Financial offers access to a vetted network of top debt collection attorneys in Ghana, giving you the best chance of recovery. Our low-cost options enable you to leverage an effective legal strategy, while recovering more of the money owed to you.

Request a quote today.

Alternate Dispute Resolution (ADR)

Ghana’s legal system allows for settling disputes out of Court in the Alternate Dispute Resolution Act, 2010 (ACT 789). Under Ghanian law, arbitration, mediation and customary arbitration are all valid methods of settling issues.

Arbitration is most used for settling large, muli-national commercial debts, though it is increasingly used in the banking industry, as Ghana recently started a clean-up of the sector resulting in the revocation of many banking licenses.

Arbitration can offer greater speed, informality and privacy at a lower cost than litigation. However, there is still a need to involve the court for enforcement of arbitral awards.

Having a professional Ghanian legal collections agency on your side can help speed resolution of your claim(s) and reduce legal costs.  By starting legal proceedings, Cedar Financial’s debt collection lawyers are often able to open a discussion with uncooperative debtors, enabling us to enter arbitration or agree on a settlement to avoid additional costs.

Contact us today to learn more.

Enforcement of Foreign Judgments in Ghana

Foreign judgments can only be enforced for certain countries with reciprocity, as specified by the President of Ghana under the Courts Act, 1993 (Act 459). These countries include: Brazil, France, Israel, Italy, Japan, Lebanon, Senegal, Spain, United Arab Emirates, UK, Northern Ireland and Scotland.

The final judgment must be of the superior courts and have a sum of money payable under the judgment. If there is no reciprocity agreement, a fresh action must be taken.

Cedar Financial handles all aspects of legal collections, including skip tracing, asset location, filing a lawsuit, obtaining a judgment and enforcement. Request a quote today.

Recover more with top debt collection attorneys in Ghana.

Quick Facts About Debt Collection in Ghana

Open Invoices

Unpaid Invoice Interest Rate Can be charged if included in contract, but often only collectable in court.
Can Collection Fees be added? Yes, if included in contract.
Statute of Limitations/Prescription 6 years for contracts.


Post Judgment Interest Rate Benchmark interest rate determined by Bank of Ghana at time of judgment
Judgment Expiration Judgments do not expire.
Can judgment be renewed? N/A

Local Experts in Collections

We offer on-the-ground representatives in Ghana who understand the debt collection practices that work to support full recovery of your funds.


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FAQs About Debt Collection in Ghana

Why should we ask you to collect our debts in Ghana?

We are familiar with local laws and customs to recover your debt quickly. We are credible, reliable and consistently pursue recoveries only within your specified guidelines.

What does it cost to hire you to recover the amount due to us?

For pre-legal services, we work on a “no collection – no fee” basis, so you will only pay when your funds are recovered. For legal services, we offer low-cost options.

What is the minimum amount or number of accounts you will accept?

We have no minimum value or volume that is required to place accounts.

What type of debt do you service?

We service consumer and commercial debts, large or small, across many industries.

How long will your amicable (non-legal) debt collection process take?

It depends on the extent to which the debtor admits or contests the claim, the nature of such contest and the legitimate ability of the debtor to settle the debt. Normal debt collection proceedings can take up to one year.

What is the typical debt collection process?

We start with an initial investigation into the debtor’s registration and credit information. Phone calls, demand letters, emails and sometimes faxes are then sent out. If the debt is disputed, we request proof from the debtor to send to the creditor. If the debtor cannot be contacted, our Skip Tracing team will carry out an address and phone search. We also request a face-to-face meeting, if necessary. If all efforts do not lead to payment, we may suggest a legal filing.

What is the statute of limitations in Ghana, for older debts?

The statute of limitations in Ghana is six years for contracts.

Do you provide field services?

Yes, we schedule meetings with debtors at times convenient for them for attempts at possible resolution.

Do I need to provide documentation?

Documentation is necessary especially if the debtor denies the debt. It also helps us to understand the nature of the debt which helps in our dialogue with the debtor.

Do you offer litigation services if you exhaust all amicable collection efforts without recovery?

Yes. In the event all amicable efforts are exhausted, our in-house legal team will conduct a thorough review of the file to determine collectability in litigation. If the file qualifies and you approve, we will work with the local attorney in your debtor’s jurisdiction to file suit and pursue the claim, including asset location, arbitration, trial representation, obtainment of a judgment and post-judgment enforcement.

Are collection fees legal to be added to the balance owed?

Yes, if included in the contract. Otherwise a victorious party in litigation would be entitled only to costs.

*The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information.

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