Vice President Dr Mahamudu Bawumia, the New Patriotic Party (NPP) flagbearer for the 2024 elections, has responded to criticisms of his proposed credit scoring system by accusing his opponents of misunderstanding the concept. He labelled their criticism as ‘unfortunate.’
On his Facebook page, Bawumia stated that the credit scoring system aims to simplify acquiring essential items such as cars and mobile phones for Ghanaians. He also highlighted that the system would facilitate lending access at lower interest rates.
Bawumia emphasized that the implementation of this system is now feasible due to advancements like the widespread issuance of the Ghana Card, database integration, and the success of mobile money interoperability. “The credit scoring system will enhance financial inclusion and provide numerous benefits,” Bawumia stated.
Drawing comparisons with advanced economies, Bawumia noted that in some countries, mobile phones can be obtained for free with a multi-year contract based on credit scores. He expressed frustration over his opponents’ inability to grasp the potential of his proposal, asserting, “Unfortunately, my opponents always think in terms of impossibilities and criticize without knowledge.”
Bawumia made these remarks during his campaign visit to the Lambussie, Nandom, and Lawra constituencies. He reaffirmed his commitment to advancing Ghana’s financial infrastructure and fostering economic growth.
