Credit Scoring System: My opponents always criticise without knowledge – Bawumia

The flagbearer of the New Patriotic Party (NPP), Dr. Mahamudu Bawumia has criticized his opponents for comments about the credit score system he proposes if elected president.

During a 3i Summit in May 2024, Dr. Mahamudu Bawumia stressed the importance of a working individualized credit score system supported by a digital identity and address for all citizens.

He believes this will de-risk the financial ecosystem and lower borrowing costs, pointing out that Africa is fast adopting digital technology, with Ghana leading the way in mobile money and financial inclusion over the last seven years.

However, some Ghanaians and politicians have criticised his plan for a credit scoring system.

In reaction, Dr. Bawumia expressed disappointment on Facebook, claiming that his opponents frequently criticize without knowing the context. He emphasized the progress made in issuing the Ghana Card, combining databases, and attaining mobile money interoperability, which pave the way for a credit scoring system.

Dr. Bawumia emphasized that such a system would allow ordinary Ghanaians to purchase vital items such as cars and mobile phones, secure loans at cheaper interest rates, and even receive free phones with a contract, as is done in affluent countries. He urged his opponents to focus on possibilities rather than impossibilities.

Source : Lead News Online