Credit scoring system will make it easier for Ghanaians to purchase essentials – Bawumia

Flagbearer of the New Patriotic Party (NPP), Vice President Dr. Mahamudu Bawumia has proposed a credit scoring system in Ghana that he believes will make it easier for ordinary Ghanaians to purchase essentials like cars and mobile phones, as well as obtain loans at lower interest rates.

Dr. Bawumia highlighted the significant progress made with the issuance of the Ghana Card, the merging of databases, and the exponential growth of financial inclusion through mobile money interoperability. He stated, “All is now set for the operation of a Credit Scoring system for Ghana.”

“Among many benefits, the operation of a Credit Scoring system will make it easier for the ordinary Ghanaian to purchase essentials such as cars, mobile phones, obtain loans at lower interest rates,” he said of the benefits.

Dr. Bawumia explained that in many advanced nations, mobile phones can even be obtained for free from phone companies with a two or three-year contract, subject to one’s credit score. “Unfortunately my opponents always think in terms of impossibilities and criticize without knowledge,” he added.

Dr. Bawumia’s vision is to bring similar benefits to Ghanaians, facilitating access to essential goods and financial services through a robust credit scoring system.