Leader and Vice President of the New Patriotic Party (NPP), Dr Mahamudu Bawumia, in a recent statement, expressed disappointment that the proposed credit scoring system has been criticised by opposition parties who do not understand the potential benefits it could bring to ordinary Ghanaians.
Dr. Bawumia stressed that the scheme is aimed at making it easier for citizens to purchase essential items such as cars and mobile phones and secure loans at low interest rates.
Dr. Bawumia described the lack of knowledge on the credit scoring system as “unfortunate” and stressed the transformative impact the system will have on financial inclusion in Ghana.The Vice President stressed that the surge in financial inclusion facilitated by the large-scale issuance of the Ghana Card, database integration and mobile money interoperability has laid the groundwork for the implementation of the credit scoring system in the country.
“In developed countries, you can even get a free mobile phone from a telco if you sign a contract based on your personal credit score,” Dr Bawumia explained.
He noted that the system will not only streamline financial transactions but also foster a culture of responsibility and trust among borrowers, thereby enabling more favorable lending terms for individuals seeking financial assistance.
Addressing critics who claim his proposals are unrealistic, Dr. Bawumia reiterated his commitment to charting a path for progress and innovation for Ghana. During recent activities in Lambusi, Nandom and Lawra constituencies as part of the nationwide election campaign, he reiterated his vision for the country’s future, stressing that his goals are achievable.
Dr. Bawumia concluded his remarks by asserting, “I have shared this vision and many others for the future of Ghana in my interactions with good people. Yes, it is possible!”Undaunted by skepticism, the Vice President remains staunch in his support of initiatives aimed at expanding economic opportunities and promoting economic self-reliance for all segments of society.
Vincent Kubi
