The Vice President, Dr. Mahamudu Bawumia, has jabbed his opponents for criticising unjustly, a credit score system system he is willing to introduce, should he be elected President after the December election.
The flag bearer of the New Patriotic Party (NPP), at the 3i Summit in May 2024, espoused the need for a functional individualized credit scoring system, backed by a digital identity and address for all Ghanaians.
The system, he indicated, will de-risk the financial ecosystem and reduce borrowing costs, stating that Ghana is leading the way with how Africa is embracing digital technologies, with its mobile money and financial inclusion.
But many have criticised the credit scoring system, including politicians and the general public.
Meanwhile, the Vice President has responded to the criticisms in a Facebook post Wednesday, July 24, 2024, indicating those who criticised his initiative did so unjustly without properly comprehending 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 explained 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.
