Dr. Mahumudu Bawumia, Ghana’s vice president, has stated that he would be willing to create a credit card system should he be elected president on December 7.
He clarified that data and systems including GhanaCard, GhanapostGPS, Mobile Money, DVLA, GRA, and bank accounts will be used to develop the system.
According to the flagbearer of the New Patriotic Party (NPP), the system is designed to guarantee that workers buy goods, like as automobiles and homes, on credit and at a reduced interest rate. He clarified that doing this will lessen out-of-pocket expenses and improve individuals’ quality of life. This was revealed by Dr. Bawumia in a speech to Ghanaians on Wednesday, February 7.
“We look forward to starting individualized credit scoring in Ghana this year and this will make it easier for Ghanaians to access credit at lower interest rates.
“This will help build an efficient credit system and mortgage market in Ghana underpinned by individualized credit scoring and the digitalization of land titling and transfer,” he stated.
