The Need for the Chartered Institute of Credit Management, Ghana (CICMG).

No economy grows without the use of credit and there is no example of any advanced society without the use of credit. Credit at whatever level of sector, if not properly managed could spell doom for an economy.


As we are all aware, for the economy to grow to the point of providing desired jobs and wealth creation, there must be credit extension at all levels of industrial and commercial activities. But credit business extended or granted under a sloppy arrangement is an evil worse than an economy driven by a cash-and-carry regime.

All over the world, businesses extend credit to each other, but successful management of these credits has been hampered, abused to a large extent following lack of standards, unethical conducts, insider’s abuse resulting to sharp practices in the industry. Evidencing that there is a systematic absence of regulation and protection of relationships between debtors, creditors and managers of credit.


In other countries of the world where economy is driven by credit system, national institutes for credit are in place to regulate, set standards, moderate ethical conducts and build capacity of the people involved in managing, controlling and monitoring credits at all levels of commercial or business credit activities.


The incidence that triggered the world economic and financial meltdown in years back stemmed largely from proper attention that was not paid to sound and disciplined credit management system, thus re-enforcing the need for every country to provide necessary safeguards and infrastructures to protect local credit market economy.

In order to foster development of credit management in Ghana and to ensure that standards are set based on best practices in professional and ethical conducts, as well as provision of services geared towards enhancing skills and capacity building of those involved in credit functions, the Chartered Institute of Credit Management, Ghana (CICMG) was established as a professional body 2014.


The Chartered Institute of Credit Management, Ghana is committed to bringing changes to the face and habit of credit business at all levels in Ghana and influence structures of risk measurement to protect the item on the balance sheet called “accounts receivable.”



The Mission

The Council affirms that the sole objective of the Chartered Institute of Credit Management, Ghana is to provide sterling education and training to enable persons qualify to practice or engage in the practise of credit, risk and banking.


To empower the credit profession in Ghana by:


  • being the centre of expertise for credit management.
  • gaining universal recognition that sound credit management keeps business in business.
  • maintaining relevant and up-to-date qualifications and occupational standards.
  • being recognised and respected as its voice.
  • supporting the career development of all people who work in credit management.
  • improving skills and standards through a growing membership.
  • continuously improving our products and services and being the first-choice provider.
  • promoting credit practice and management through local and international networks.