Bawumia Unveils Groundbreaking Credit Scoring System to Empower Ghanaians
Vice President Bawumia’s Initiative Sets the Stage for a Stronger, More Inclusive Economy
- myCreditScore will enable Ghanaians to prove their creditworthiness transparently, easing access to credit
- Higher credit scores open doors to larger loan amounts for responsible borrowers
- A reliable credit system reduces lending risks
Vice President and NPP Presidential Candidate, Dr. Mahamudu Bawumia, has launched myCreditScore, a pioneering credit reference and scoring system designed to enhance financial inclusion in Ghana.
Endorsed by the Central Bank, this system provides individual Ghanaians with a transparent way to showcase their creditworthiness, making access to credit simpler and fairer.
myCreditScore rewards financially responsible individuals with higher credit scores, allowing them to secure larger loans from financial institutions. Speaking at the launch in Accra, Dr. Bawumia called it a “significant milestone” in building a financially inclusive society, addressing longstanding barriers to lending by giving financial institutions a reliable method to assess credit risks.
“Access to accurate credit data will empower both lenders and borrowers, reduce lending risks, and support a stronger credit economy,” he emphasized, marking a transformative step for Ghana’s financial landscape.
