The Vice President of Ghana, Dr. Mahamudu Bawumia, shared some exciting news for Ghanaians. He mentioned that soon, people in Ghana will be able to buy cars on credit using their Ghana Card. Solar Taxi company has agreed to launch this initiative. Dr. Bawumia highlighted that the government aims to make life easier for Ghanaians by establishing a credit system tied to the Ghana Card. The integration of this biometric identification card will streamline financial processes. During his speech at the Kwame Nkrumah University of Science and Technology (KNUST) on November 24, 2023, he revealed ongoing discussions with local automobile companies, including Solar Taxi, to make this initiative possible. Dr. Bawumia explained that with just their Ghana Card, people will be able to get a car on credit and pay for it over time. This is really exciting news for the people of Ghana!
“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. All they will need at the point of transaction will be your Ghana card, and they will give you a car, and then you pay over time,” he said.
“The second gentleman of the land stressed on the fact that the Ghana Card would be the sole requirement for transactions, enabling individuals to acquire cars and pay over time. The vice president also disclosed plans to introduce a credit scoring system for individuals in 2024. This system, according to him, aims to provide a credible credit history for Ghanaians, enhance the financial sector, address trust issues, reduce the cost of doing business, and promote 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.”
