National Deputy Secretary of the 'Bawumia Identifiable Groups' campaign team, Dr. Michael Kyeremanteng, has called on Ghanaians to embrace a more effective strategy for addressing the country’s economic challenges.He advocated for the introduction of a ‘Credit Scoring System,’ which he described as a solid and practical solution, instead of adopting the ambiguous concept of a ‘24-hour economy.

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’Speaking to a gathering of artisans, entrepreneurs, market women, motor riders, and members of the National Service Personnel Association in Ho, Volta Region, Dr. Kyeremanteng shared his insights on the nation’s economic struggles.He linked Ghana’s current economic difficulties to the combined impacts of the COVID-19 pandemic and the ongoing Russia-Ukraine war, which he said have had widespread effects globally.Dr.

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Kyeremanteng noted that these crises disrupted business operations and economic activities, forcing many enterprises, including his own, to shut down.He shared a personal example, stating, “From 2015 to 2020, I operated around 15 hospitals in Ghana, alongside two additional facilities in Europe—one in Germany and another in Amsterdam.

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However, due to the economic impact of COVID-19 and the Russia-Ukraine war, I had to close more than eight of these hospitals, including one in Europe.”Dr. Kyeremanteng pointed out that many countries, including those in Europe and North America, faced similar challenges. However, they were able to stabilize their economies and sustain business operations due to the implementation of a solid ‘Credit Scoring System.

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’He stressed that introducing such a system in Ghana could transform the nation’s economy by allowing citizens to conveniently access goods and services using their national identity cards.According to Dr. Kyeremanteng, this system would help narrow the gap between the rich and the poor, giving everyone the opportunity to engage in economic activities.

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“In European countries, people—whether rich or poor—can access what they need through a well-structured Credit Scoring System. This system empowers individuals and businesses to make purchases and gradually pay them off, improving financial inclusion and stability,” he noted.

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He urged policymakers to consider this bold approach, citing it as a sustainable solution that could transform the economic landscape of Ghana, rather than relying on superficial strategies that do not address the root causes of the problem.Dr. Kyeremanteng criticized the proposal for a ’24-hour economy’ put forward by the main opposition leader, describing it as a shallow policy that fails to address the deeper issues at hand.

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He argued that many businesses and public institutions in Ghana already operated around the clock, yet there had been no significant improvement in the economic situation.“Banks and other financial institutions already provide 24-hour services, especially with the availability of mobile interoperability, allowing customers to make transactions even at midnight. However, this has not led to any significant change in our economic situation.

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How, then, can the ’24-hour economy’ policy be expected to solve these problems?” he questioned.Dr. Kyeremanteng further challenged Ghanaians, stating, “We have two leaders offering solutions to our economic problems. One is proposing a bold, effective solution—the ‘Credit Scoring System.’ The other is offering a shallow fix with the ’24-hour economy’ policy.

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It is now up to you, the people of Ghana, to choose between the bold and the superficial.”Dr. Kyeremanteng’s criticism of the '24-hour economy' policy highlighted the importance of seeking more comprehensive, systemic solutions. He argued that simply extending operational hours is not enough; what is needed is a focus on financial inclusion and long-term economic stability.Mr.

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Alfred Believe Ahiatsi, the Volta Regional Coordinator for the Identifiable Groups campaign team, also addressed the gathering. He emphasized that the purpose of the meeting was to give the youth a platform to express their concerns and challenges within their respective fields.The aim, he explained, was to collect valuable feedback and identify practical solutions that could be implemented to support their economic endeavors.In conclusion, Dr.

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Kyeremanteng’s proposal to implement a ‘Credit Scoring System’ stands as a bold and transformative strategy for tackling the underlying structural issues of Ghana’s economy.

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