Dennis Miracles Aboagye, the Director of Communications for the NPP campaign, has vigorously defended Dr. Mahamudu Bawumia’s flagship policy initiative – the Credit Scoring System – designed to revolutionize Ghana’s credit landscape.
Aboagye argued that the policy has the potential to increase financial inclusion, empower small businesses, and drive economic growth, thereby making it a game-changer for Ghana’s future prosperity.
He pointed out that Ghana is now primed for the launch of a Credit Scoring System, building on the successes of the Ghana Card rollout, database harmonization, and the remarkable progress in financial inclusion facilitated by mobile money Interoperability.
These developments, Aboagye indicated, have created a fertile ground for a comprehensive credit-scoring infrastructure, poised to unlock new economic opportunities for Ghanaians
“Among many benefits, the operation of a Credit Scoring system will make it easier for the ordinary Ghanaian to purchase essentials such as cars, and mobile phones, and obtain loans at lower interest rates. In most advanced nations, mobile phones can even be obtained for free from phone companies with a two or three-year contract subject to your credit score”.
Dennis Miracles Aboagye
The NPP Communicator further emphasized that, regrettably, the opposition NDC tends to focus on limitations and disparages without understanding, vehemently criticizing the NDC for its uninformed and harsh opposition to the policy.
He slammed the NDC for its knee-jerk criticism, asserting that it stems from a lack of comprehension and a penchant for negativity.
Aboagye revealed that he had the opportunity to share Dr. Bawumia’s comprehensive vision for Ghana’s future, including the Credit Scoring System, with the enthusiastic residents of Lambussie, Nandom, and Lawra constituencies during a recent leg of the nationwide campaign.
Aboagye highlighted that the Credit Scoring System is a vital tool for empowering citizens to access essential necessities without being burdened by upfront costs.
He noted that by enabling individuals to build creditworthiness, this system facilitates affordable financing options, allowing Ghanaians to meet their basic needs and improve their overall quality of life.
“It is a good way of creating convenience for your people. It is a system enjoyed by the advanced world for years and it is time for the good people of Ghana to also enjoy”.
Dennis Miracles Aboagye
He declared, unequivocally, that it is not only possible but also inevitable, and the NPP will make it happen.
Credit Rating Skepticism
Meanwhile, Evron Rothschild Hughes, Economic Advisor at the Presidency, wryly noted that the NDC elite will likely adopt a familiar tactic, persuading their base that a good credit rating is unnecessary, just as it did with the Ghana Card.
He noted by this the NDC will have its constituents scramble for credit when they need it most, underscoring the party’s shortsighted approach to economic empowerment.
“I have never seen a party so dedicated to impoverishing its members by encouraging them to be ‘dumb’. This is my pitch to the NDC base: wake up and ditch the people spending their Summers in Miami but determined to stop you from signing up for a holiday in Singapore based on your good credit”.
“Look at it this way: we have millions of hardworking Ghanaians who otherwise can afford some of these things but for the “cash down” system which currently obtains”.
Evron Rothschild Hughes
The Presidential Staffer highlighted that Ghana has a unique chance to replicate the success of the United States in implementing credit scoring, making this vital financial tool accessible to its citizens and unlocking new economic opportunities for Ghanaians.
He nonetheless recognized that while access to credit can be beneficial, it’s not suitable for everyone, and failure to repay can lead to significant financial strain, emphasizing the importance of responsible lending and borrowing practices.
“But, it has opened an 18 Trillion Dollars opportunity elsewhere. Imagine what we can achieve right here at home”. – Evron Rothschild Hughes
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