Vice President Dr. Mahamudu Bawumia has officially launched Ghana's National Credit Scoring System, known as MyCreditScore, in a move aimed at enhancing financial inclusion and supporting the formalisation of the economy.This innovative system seeks to revolutionise how Ghanaians access credit, offering a digital, cash-free method for making purchases while promoting a culture of financial responsibility.

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Developed in collaboration with private sector partners, MyCreditScore introduces a new credit scoring model that evaluates individuals based on their financial behaviour and payment history. This will help make it easier for Ghanaians to secure loans and financing, enabling them to build and manage their credit profiles effectively.During the launch, Dr.

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Bawumia highlighted the system's potential to empower individuals and help financial institutions by encouraging responsible lending.

noted that the initiative could also help address the issue of non-performing loans (NPLs), which has been a concern for banks and financial institutions in Ghana.With MyCreditScore, Ghanaians will be able to make purchases and conduct transactions without needing cash

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upfront, easing the financial strain on consumers while helping them establish a positive credit history.The platform is designed to be accessible to all Ghanaians, with financial institutions, lenders, and merchants urged to adopt it, ensuring seamless credit access across various sectors. Dr.

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Bawumia emphasised that this initiative aligns with the government's broader goals of creating a digital and inclusive economy, marking a key step in Ghana's progress towards economic resilience and digital transformation.

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