According to Vice President Dr. Mahamudu Bawumia, Ghanaians will soon be able to purchase automobiles on credit with their Ghana Cards since the Solar Taxi company has agreed to implement the program.
He claims that in order to improve citizen life, the nation is moving quickly to build a credit system centered around the Ghana Card.
The Vice President announced that talks with Solar Taxi and other automakers had already started during his address to the 57th assembly of the Kwame Nkrumah University of Science and Technology (KNUST) in Kumasi.
According to him, the Ghana Card—which has been made possible by the economy’s digitization—will be all a buyer may need to complete a credit transaction with car manufacturers.
“The Ghana Card will serve as the basis of the country’s credit system, and it will require a few local automakers—most notably Solar Taxi—to offer credit to consumers for cars,” he said.
“Your Ghana Card will be all they need at the point of transaction, and they’ll give you a car that you can pay for over time,” he said.
Dr. Bawumia, the incumbent leader of the ruling New Patriotic Party (NPP) in the 2024 elections, announced that a mechanism for determining individual credit ratings will be put into place concurrently with this.
He revealed that in order for the credit system to go into action, this system for determining individual credit ratings will be introduced the following year.
He stated that the system’s goal is to provide a reliable credit history for each individual in order to clean up the financial industry, eliminate the trust gap that has raised operating costs, and encourage discipline.
“Ghana will launch a personal credit rating system the following year. Each person will possess a credit score. We are viewed as dangerous since we do not now have a credit score system in place, Dr. Bawumia hinted.
