Ghana Card has become a profit-chasing octopus - Bright Simons to Bawumia

The Vice President of IMANI Africa, Bright Simons, has poked holes into claims by the Vice President, Dr. Bawumia that the Ghana card will soon become a credit system for people to be able to purchase cars.

According to Bright Simons, the Vice President has constantly highlighted technology possibilities that Ghana can exploit by highlighting the digitization agenda, therefore, focusing so much energy on the merits of the Ghana card is quite problematic.

He wrote on X: “It's nice that Ghana has a Veep who has raised the profile of tech. But this constant attempt to undermine what exists so that Ghana Card can replace them & its private investors make a lot of money is very PROBLEMATIC. Ghana Card has become a profit-chasing OCTOPUS.”

Dr. Bawumia had said there are plans to introduce a credit scoring system in 2024 to provide a credible credit history for individuals to 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.

Bright Simons said it was untrue that Ghana has no credit scoring system since the country had already passed that law in 2010.

“The Veep's claim that Ghana has NO credit-scoring system so Ghana Card will play that role is STRANGE. Ghana introduced credit scoring in 2010 (law passed in 2007). It had 3 licensed credit bureaus. It now has 2. As at 2019, 5.1m Ghanaians were captured with 2.8m checks.

“Credit scoring has challenges that have nothing to do with an ID Card. That's why Hudson stopped operating. Most of the challenges are known. Handing the sector over to Ghana Card investors WON'T SOLVE those challenges. Question: why has growth in checks fallen since 2017?” he questioned.

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Repeating: it's nice that Ghana has a Veep who has raised the profile of tech. But this constant attempt to undermine what exists so that Ghana Card can replace them & its private investors make a lot of money is very PROBLEMATIC. Ghana Card has become a profit-chasing OCTOPUS

— Bright Simons (@BBSimons) November 28, 2023

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The Veep's claim that Ghana has NO credit-scoring system so Ghana Card will play that role is STRANGE. Ghana introduced credit scoring in 2010 (law passed in 2007). It had 3 licensed credit bureaus. It now has 2. As at 2019, 5.1m Ghanaians were captured with 2.8m checks. pic.twitter.com/5puSe57phd

— Bright Simons (@BBSimons) November 28, 2023