Vice President of Ghana, Dr Mahamudu Bawumia has clarified his recent comments on the credit scoring system in Ghana.

He has explained that he was taken out of context on the matter, indicating that “I was making a statement that one of the things that we don’t have currently in Ghana is a credit scoring system that the referencing agency will normally do.

"That statement I made of course was taken out of context and some people even disagreed with that statement saying we don’t have such an individualized credit system in Ghana,” he added.

Dr Bawumia who was speaking at the Ghana Investment Promotion Centre (GIPC) awards ceremony Friday (December 8, 2023) said: “But now with the cooperation with the central bank, we are very close to introducing an individualized credit scoring system in Ghana next year which allow us to differentiate risk from individuals and that was the sense which I said that an individualized scoring system will have the Ghana Card as that anchor because it is a unique identifier for everybody and that will allow credit to be more accessible to all of these companies here who will then be able to offer credit to many consumers”.

Adding that “The Ghana Card being the anchor, some people misunderstood that saying you can use the Ghana Card to buy a car which doesn’t make sense, the Ghana Card will help you get credit to be able to assist you making purchases of goods and other services,” he stressed.