As part of the continuous digitalization of the economy, Vice President Dr. Mahamudu Bawumia has revealed plans for Ghanaians to use the Ghana Card to purchase automobiles and obtain credit.
Speaking on November 24 at the 57th Congregation of the Kwame Nkrumah University of Science and Technology (KNUST), he disclosed that continuing negotiations with nearby automakers, such as Solar Taxi, are being conducted to support this endeavour.
“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,” asaaseradio.com quoted Bawumia as having said.
He emphasised that people will be able to purchase cars and make payments over time, with the Ghana Card serving as the only prerequisite for transactions.
The vice president also revealed intentions to launch a personal credit rating system in 2024.
He stated that the objectives of this system are to give people access to a reliable credit history, improve the financial industry, deal with issues of trust, lower operating costs, and encourage sound financial practises.
“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,” he added.
