The Vice President of Ghana who doubles as the 2024 Presidential Candidate for the New Patriotic Part, Dr. Mahamadu Bawumia, has launched a credit scoring system in Accra on Thursday, November 7. This is in fulfilment of a campaign pledge by the Vice President to introduce a Credit Scoring System in Ghana if he is elected as president in the 2024 general elections.
Dr. Bawumia wrote the following on his Facebook page after the event.
“This afternoon in Accra, I launched myCreditScore, the much-awaited individualised credit scoring system for Ghana.
The system will offer individual Ghanaians opportunity to demonstrate their credit worthiness transparently, through a scoring system, which will enable them access credit from financial institutions to purchase items they need.
The successful launch of a credit scoring system for Ghana, is a culmination of a dream which started 17 years ago when I was Deputy Governor of the Bank of Ghana, leading to the passage of the Credit Reporting Act by Parliament in 2007.
Unfortunately, the process of an individualised credit scoring system for Ghana stalled between 2009 and 2016, following the change of government.
Today’s launch is a significant milestone and a bold step forward in building a dynamic credit economy for Ghana and for all Ghanaians.
I thank the Governor, Management and Staff of the Central Bank, and all stakeholders, for their contributions in making this possible.
MyCreditScore, which is proudly Ghanaian, homegrown private sector initiative, demonstrates what can be achieved by Ghanaians.
Let us continue to move forward with optimism and purpose, knowing that together, we are building a Ghana where financial inclusion is real, dreams are within reach, and every Ghanaian has the chance to achieve financial security and prosperity.
It is possible!”
