Bawumia to launch credit score system today

Vice President Dr. Mahamudu Bawumia is set to launch a national credit score system today, November 7, 2024.

This initiative aims to provide Ghanaians with easier access to personal loans and assist financial institutions in managing risk and cost allocation with their clients.

The system will leverage data from sources like the GhanaCard, GhanapostGPS, Mobile Money, DVLA, GRA, and bank accounts.

The New Patriotic Party (NPP) flagbearer previously mentioned that this system is intended to enable workers to purchase items, including houses and cars, on credit at lower interest rates.

He believes the new credit score system will allow more Ghanaians to participate in the economy by providing a structured way to track and assess creditworthiness, thereby creating a framework that benefits both individuals and businesses.

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