Vice President and New Patriotic Party (NPP) Flagbearer, Dr. Mahamudu Bawumia, has announced the launch of a new credit score system set for November 7, 2024.
During his visit to Yeji in the Pru East District of the Bono Region, Dr. Bawumia emphasized that this initiative will allow Ghanaians to buy goods on credit and pay in installments.
He outlined that the credit score system is part of the government’s broader efforts to empower citizens and improve their quality of life.
Dr. Bawumia pointed out that prior investments in a national address system, the National Identification System, and mobile money interoperability have laid the groundwork for this new credit system.
The Vice President noted that, with the completion of the credit score system ahead of schedule, Ghanaians will soon be able to access credit based on their scores. He stated, “Before a credit system can operate, everyone will need to have a credit score… We are going to launch Ghana’s scoring system on November 7.”
Dr. Bawumia highlighted the potential economic benefits of this system, noting that Ghana will become the second country in Africa to implement a credit scoring system, following South Africa.
He reiterated that any Ghanaian with a Ghana card will be eligible for a credit score, facilitating access to credit for purchasing goods and services.
