Ghanaians Can Soon Buy Cars On Credit With Ghana Card- Bawumia

Vice President Dr Mahamadu Bawumia has touted the significance of digitalization with the Ghana Card as the anchor as the credit system evolves in the country.

Speaking at the 57th Congregation of the Kwame Nkrumah University of Science and Technology (KNUST) on November 24, he said he visited some automobile companies for the implementation of the policy in the purchases of cars in the country.

He said one of such companies that have agreed on the initiative is Solar Taxi and according to him, all a purchaser may require for the transaction will be a Ghana Card.

He envisions this form to dominate transactions in the country soon.

“The Ghana card will also become the anchor for a credit system in Ghana and it will take a couple of car manufacturers in Ghana notably solar taxi to give cars on credit to people. All they will need at the point of transaction will be your Ghana card and they will give you a car and then you pay over time.”

This will be accompanied by the introduction of a credit scoring system for individuals which will be launched next year, the Vice President said.

The system aimed at providing credible credit history of individuals will sanitize the financial sector, clear the deficit of trust which has made the cost of doing business expensive and promote discipline, he asserted.

“Ghana next year will be introducing a credit scoring system for individuals. Every individual will have a credit score. Right now our credit scoring system does not exist so we are seen as risky.”