The New Patriotic Party (NPP) flagbearer, Dr. Mahamudu Bawumia, has aimed at remarks made by his rivals on the credit score system he has suggested for the presidential election.
At the 3i Summit in May 2024, Dr. Mahamudu Bawumia emphasized the importance of having a working, personalized credit score system that is supported by each citizen’s digital identification and address.
He thinks this will lower borrowing costs and de-risk the financial system. He points out that digital technology is being quickly adopted throughout Africa, with Ghana setting the pace for financial inclusion and mobile money over the previous seven years.
However, his proposal for a credit scoring system has faced criticism from some Ghanaians and some politicians.
In response, Dr. Bawumia in a Facebook post expressed disappointment, stating that his opponents often criticise without understanding the context.
He highlighted the progress made in issuing the Ghana Card, merging databases, and achieving mobile money interoperability, which sets the stage for a credit scoring system.
Dr Bawumia underscored that such a system would enable ordinary Ghanaians to access essential goods like cars and mobile phones, secure loans at lower interest rates, and even obtain free phones with a contract, as is common in advanced nations.
He urged his opponents to think in terms of possibilities rather than impossibilities.
