In a significant step towards boosting financial inclusion and advancing the formalization of Ghana’s economy, Vice President and the Presidential Candidate of the New Patriotic Party, Dr. Mahamudu Bawumia, has launched the National Credit Scoring System, branded as MyCreditScore.
Backed by the Central Bank, this credit scoring system offers individual Ghanaians the opportunity to demonstrate their creditworthiness transparently, helping them access credit more easily.
The MyCreditScore system, which has been developed in collaboration with private sector partners, introduces a credit scoring model designed to make it easier for citizens to secure loans and financing.
By evaluating individuals’ creditworthiness based on payment history and financial habits, the system offers a more comprehensive approach to credit access, helping Ghanaians build and maintain credit profiles.
At the launch in Accra on Thursday, November 7, 2024, Dr. Bawumia described the credit scoring system as a “momentous occasion” and a “step forward in building a dynamic credit economy for Ghana and all Ghanaians.”
He said it is a significant milestone in Ghana’s journey towards a financially inclusive and empowering society, adding that the launch of myCreditScore represents “yet another chapter in the nation’s ambitious journey towards financial inclusion.
Dr. Bawumia, who spearheaded the project, said that myCreditScore introduces a critical tool that transforms access to credit in Ghana and addresses longstanding challenges related to lending and borrowing.
He explained that with this myCreditScore system, the financial sector will now have a reliable way to assess the creditworthiness of individuals, a change that is expected to help address high lending rates.

Dr. Bawumia further stated that he has not abandoned economics, but he is using digitalization to solve economic problems in the country.