Bawumia set to launch credit score system on November 7
Vice President and New Patriotic Party (NPP) Flagbearer, Dr Mahamudu Bawumia, has announced the launch of a credit score system on November 7, 2024.
This initiative aims to empower Ghanaians by allowing them to purchase goods on credit and make payments in instalments.
Dr Bawumia made this announcement during a visit to the chief and residents of Yeji in the Pru East district of the Bono Region.
He highlighted that the credit score system is part of his broader campaign to implement transformative policies that enhance the lives of Ghanaians and unlock their potential.
Throughout his campaign, the Vice President has been vocal about his commitment to bold reforms, and the credit score system is one of the key initiatives he is promoting.
He believes that this system will significantly improve access to credit for many citizens.
He further explained that Ghana is well-positioned to adopt this credit scoring system due to previous investments in a national address system, the National Identification system, and mobile money interoperability.
These foundational elements are essential for the successful implementation of a credit score framework.
During his engagement with the community in Yeji, Dr Bawumia assured the public that the credit score system would be launched ahead of the upcoming elections, reinforcing his administration’s commitment to financial empowerment and improved economic opportunities for all Ghanaians.
“Before a credit system can operate, everyone will need to have a credit score. Initially, I figured work on the score system would be completed next year. But we have completed it and on November 7, we are going to launch Ghana’s scoring system.”
“The whole of Africa, only one country has a credit system; that is South Africa. Ghana will be the second country in Africa with a credit scoring system. Anybody with a Ghana card can have a credit score which will enable you to purchase goods on credit and pay in instalments.”
