The Vice President, Dr. Mahamudu Bawumia, has launched the National Credit Scoring System, branded as MyCreditScore in a bid to boost financial inclusion and advance the formalization of Ghana’s economy.
The government said the initiative is to transform credit access for Ghanaians providing a streamlined, cash-free way to make purchases and fostering a culture of financial responsibility.
Vice President Dr. Bawumia said the initiative is expected to help reduce the high rate of Non-Performing Loans (NPLs) that currently affect financial institutions in the country.
Dr. Bawumia said MyCreditScore aligns with the government’s broader vision of a digitized and inclusive economy, underscoring that the credit scoring initiative represents an important milestone in Ghana’s journey toward digital transformation and economic resilience.
“It is a significant milestone in Ghana’s journey toward a financially inclusive and empowered society,” Dr. Bawumia said, adding that the launch of myCreditScore, also represents “yet another chapter in the nation’s ambitious journey toward financial …