![Drake helps a group of African kids go viral [Watch]](https://thepostghana.com/wp-content/uploads/2020/04/drake-2019-pxn-billboard-1548-1586360114-1024x677-360x180.jpg)
Vice President Dr. Mahamudu Bawumia has unveiled plans to enable Ghanaians to access credit and purchase vehicles using the Ghana Card and the ongoing digitalization of the economy. Speaking at the 57th Congregation of the Kwame Nkrumah University of Science and Technology (KNUST), he shared ongoing discussions with local automobile companies, particularly Solar Taxi, to implement this initiative.
In his statement, Vice President Bawumia outlined the key points:
“The Ghana Card will also serve as the foundation for a credit system in Ghana, with car manufacturers in Ghana, notably Solar Taxi, providing cars on credit to individuals.”
“The Ghana Card will be the sole requirement for transactions, allowing individuals to acquire cars and make payments over time. So, you don’t need anything else. Once you have your Ghana Card and meet the qualifications, you can obtain a car.”
Additionally, he disclosed plans to introduce a credit scoring system for individuals in 2024:
“Ghana will be introducing a credit scoring system for individuals next year. Every individual will have a credit score. Currently, our credit scoring system is non-existent, leading to perceptions of riskiness.”
This initiative aims to establish a reliable credit history for individuals, enhance the financial sector, address trust issues, reduce business costs, and foster financial discipline.
-The Post Ghana
