Ghanaians Abroad Praise Bawumia On Game Changing Credit Score Proposal
Vice President and NPP flagbearer, Dr. Mahamudu Bawumia, has garnered significant support from Ghanaian residents abroad for his proposal to introduce a personalized credit scoring system in Ghana. This initiative aims to enable individuals to buy goods on credit, a common practice in many developed countries.
Dr. Bawumia unveiled the proposal during his initial policy address earlier this year and has been elaborating on its mechanics during his campaign tours. He has highlighted potential applications, such as purchasing mobile phones on credit from telecom companies and paying in installments through the credit scoring system.
Despite skepticism from the opposition National Democratic Congress (NDC), which has questioned the feasibility and impact of the proposal, many Ghanaians abroad have expressed strong support. They recognize the potential benefits of such a system based on their experiences in countries where credit scoring is integral to financial transactions.
Joseph Ojene Adjei, a Ghanaian resident in Toronto, Canada, expressed his enthusiasm for the initiative, citing how the credit system in Canada has eased financial pressures by allowing purchases on credit. His sentiments were echoed by other Ghanaians abroad who shared testimonies of how similar systems have positively impacted their financial management.
Dr. Frank Bangor, a development economist, endorsed the proposal, describing it as a “game changer.” He believes that implementing a standardized method for evaluating individual creditworthiness would provide Ghanaians with more financial flexibility, allowing them to purchase goods and pay in manageable installments.
The growing support from the Ghanaian diaspora underscores the potential impact of Dr. Bawumia’s credit scoring proposal, as it promises to modernize financial transactions and alleviate economic pressures for many Ghanaians.