The Vice President of Ghana, Dr Mahumudu Bawumia has announced plans to establish a credit card system.

According to him, this will enable workers to purchase items, including houses and cars, on credit and at lower interest rates.

Addressing Ghanaians on Wednesday, February 7, Dr Bawumia said this will help reduce the out-of-pocket expenditure workers have to endure and also make life easier for citizens.

“We look forward to starting individualised credit scoring in Ghana this year and this will make it easier for Ghanaians to access credit at lower interest rates,” he said.

The  flagbearer of the New Patriotic Party (NPP) explained that this will be done by leveraging data and systems such as GhanaCard, GhanapostGPS, Mobile money, DVLA, GRA and  Bank Accounts

When this is done, he said it would “ build an efficient credit system and mortgage market in Ghana underpinned by individualised credit scoring and the digitalisation of land titling and transfer.”