Credit scoring system: My opponents always think in terms of impossibilities and criticize without knowledge – Bawumia

The flagbearer of the New Patriotic Party (NPP), Vice President Dr Mahamudu Bawumia, has observed that his opponents are criticising the credit scoring system idea that he is proposing without even having knowledge about how the system works.

He described this situation as ‘unfortunate.’

Dr Bawumua explained that the credit scoring system will make it easier for ordinary Ghanaians to purchase essentials such as cars, mobile phones.

He says it will also ensure that Ghanains obtain loans at lower interest rates.

With the very significant issuance of the Ghana Card, he explained, the merging of databases and the exponential growth of financial inclusion following the success of mobile money Interoperability, all is now set for the operation of a Credit Scoring system for Ghana.

“Among many benefits, the operation of a Credit Scoring system will make it easier for the ordinary Ghanaian to purchase essentials such as cars, mobile phones, obtain loans at lower interest rates,” he wrote on his Facebook page.

A functioning credit scoring system with a digital ID will de-risk financial ecosystem, bring down cost of borrowing – Bawumia

In most advanced nations, he explained, mobile phones can even be obtained for free from the phone companies with a two or three year contract subject to your credit score.

“Unfortunately my opponents always think in terms of impossibilities and criticize without knowledge.

“I shared this and many more of my vision for Ghana’s future when I interacted with the good people of the Lambussie, Nandom and Lawra constituencies yesterday as part of my constituency-focused nationwide campaign. Indeed, it is Possible!” Dr Bawumia wrote.