Dr. Mahamudu Bawumia, the flagbearer of the New Patriotic Party (NPP), is scheduled to announce a national credit scoring system today, November 7, 2024.
This pioneering project is designed to empower Ghanaians by allowing people to buy things on credit and pay in reasonable installments, a significant step toward increasing access to financial resources throughout the country.
Bawumia first revealed information about the credit score debut during a recent visit to Yeji, a town in the Bono Region’s Pru East region.
During his visit, the Vice President emphasized that the credit score system is an important component of his overall goal for a more financially inclusive and economically empowered Ghana.
As part of his overall campaign platform, he has continuously campaigned for bold, transformative policies that solve Ghanaians’ daily challenges while expanding their opportunity to prosper.
The Vice President’s declaration demonstrates his commitment to enhancing economic accessibility, particularly for people who have traditionally faced difficulties acquiring credit.
He believes that the new credit score system will enable more Ghanaians to engage in the economy by establishing a method for tracking and assessing creditworthiness, resulting in a framework that benefits both individuals and enterprises.

“That credit scoring system, every individual will have a credit score. Right now, our credit scoring system does not exist. So everybody is seen as risky and the interest rates are high. But we are going to move into individualised credit scoring. So if you don’t pay your loan, you have low credit scores, isn’t it? And if you go for a loan, you will have a problem.”
