Today, November 7, 2024, Vice President Dr. Mahamudu Bawumia is scheduled to introduce a national credit score system.
In addition to helping financial institutions manage risk and cost allocation with their consumers, this effort seeks to make personal loans more accessible to Ghanaians.
The GhanaCard, GhanapostGPS, Mobile Money, DVLA, GRA, and bank accounts are just a few of the sources of data that the system will use.
As previously stated by the flagbearer of the New Patriotic Party (NPP), the goal of this system is to allow workers to buy goods on credit, including as vehicles and homes, at reduced interest rates.
He thinks that by offering a methodical approach to monitor and evaluate creditworthiness, the new credit score system will enable more Ghanaians to engage in the economy, establishing a framework that is advantageous to both individuals and businesses.
