Vice President Dr. Mahamudu Bawumia’s assertion that Ghanaians will soon be able to access credit and purchase cars using the Ghana Card has been doubted by a senior lecturer at the University of Ghana, Prof Kobby Mensah,
In a post shared on X on November 28, 2023, Prof. Mensah questioned the apparent underutilization of the Ghana Card for vehicle purchases, especially considering the presence of established car dealerships in the country.
He threw down a challenge, encouraging individuals to experiment by attempting to use their Ghana Card at a car dealership to determine whether they would be granted permission to buy a car on credit.
“Are we not in Ghana? Are there no garages in Ghana? If the answers to these questions are yes, then the case is simple.
“Take your Ghana card to CFAO to pick up a Mercedes and let’s prove the theory,” the academic wrote.
What Dr Bawumia said:
Vice President Dr. Mahamudu Bawumia unveiled intentions for Ghanaians to avail themselves of credit options and acquire cars through the utilization of the Ghana Card, aligning with the ongoing digitization efforts in the economy.
Addressing the 57th Congregation of the Kwame Nkrumah University of Science and Technology (KNUST) on November 24, he disclosed active negotiations with domestic automobile companies, including Solar Taxi, to facilitate the implementation of this initiative.
“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 emphasized that the Ghana Card would be the exclusive prerequisite for transactions, allowing individuals to procure cars and make payments over an extended period.
The vice president also revealed intentions to launch a credit scoring system for individuals in 2024.
This system, he explained, is designed to establish a reliable credit history for individuals, bolster the financial sector, tackle trust-related concerns, minimize the cost of conducting business, and foster financial discipline.
“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.
View his post below:
Vice President Dr. Mahamudu Bawumia unveiled initiatives for Ghanaians to utilize credit options and acquire cars through the Ghana Card, aligning with the ongoing digitalization efforts in the economy.
Addressing the 57th Congregation of the Kwame Nkrumah University of Science and Technology (KNUST) on November 24, he disclosed ongoing talks with local automobile companies, including Solar Taxi, to facilitate the implementation of this initiative.
“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 emphasized that transactions would exclusively require the Ghana Card, allowing individuals to purchase cars and make payments over an extended period.
The vice president also revealed intentions to launch a credit scoring system for individuals in 2024.
This system, he explained, is designed to establish a credible credit history for individuals, strengthen the financial sector, tackle trust-related issues, minimize the cost of conducting business, and foster financial discipline.
“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.