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The New Patriotic Party (NPP) flagbearer, Dr. Mahamudu Bawumia, has taken aim at remarks made by his rivals on the credit score system he has suggested for presidential election.
At the 3i Summit in May 2024, Dr. Mahamudu Bawumia stressed the importance of having a working, personalised credit score system that is supported by each citizen’s digital identification and address.
He notes that Africa is embracing digital technology at a quick pace, with Ghana setting the standard for mobile money and financial inclusion over the past seven years. He believes this will de-risk the financial ecosystem and lower borrowing costs.
However, numerous Ghanaians and certain politicians have criticised his idea for a credit score system.
In reaction, Dr. Bawumia expressed dissatisfaction on Facebook, claiming that his opponents frequently critique without taking the context into account.
He outlined the advancements made in database integration, mobile money interoperability, and Ghana Card issuance, all of which pave the way for the implementation of a credit rating system.
Dr. Bawumia emphasised that under such a system, regular Ghanaians would be able to get loans at reduced interest rates, acquire necessities like automobiles and cell phones, and even receive free phones with contracts—as is typical in developed countries.
Instead of focussing on impossibilities, he challenged his opponents to consider possibilities.
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