Ghanaians Can soon buy cars on credit with Ghana Cards–Bawumia

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Vice President Mahamadu Bawumia has said Ghanaians will soon be buying cars on credit thanks to the Ghana card and digitalization of the economy.

Speaking at the 57th congregation of Kwame Nkrumah University of Science and Technology (KNUST) on 24 November, he said discussions to that effect is going on with some automobile companies in Ghana.

Bawumia said one of such companies that has agreed to roll out the initiative is Solar Taxi and according to him, all a purchaser may require for the transaction is the Ghana card.

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

This will be accompanied by the introduction of a credit-scoring system for individuals which will be launched next year, Bawumia 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 added

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