IMANI Chiefs Question Credibility Of Firm Backing Move For Credit System Backed By Ghana Card

IMANI Chiefs Question Credibility Of Firm Backing Move For Credit System Backed By Ghana Card

  • IMANI Africa chiefs have questioned the credibility of the company backing moves for a credit system linked to the Ghana Card
  • Bawumia has said the new system will use the Ghana Card to differentiate risk between individuals
  • IMANI Africa President Franklin Cudjoe told YEN.com.gh that credibility could not be compromised in this endeavour

IMANI Africa has punched holes in XDS Ghana's credibility following a statement to back Vice President Dr Mahamudu Bawumia's assertion that a credit scoring system does not currently exist in Ghana.

XDS Ghana, cited as one of two operational credit scoring firms, reportedly pulled down their website around December 1, 2023, after Bright Simons, the vice president of IMANI Africa, refuted Vice President Dr Bawumia's claim.

Credit scoring saga
Bawumia is pursuing a credit system as part of his digitalisation agenda. Source: Facebook/Franklin Cudjoe/Dr. Mahamudu Bawumia/Bright Simons
Source: Facebook

Bawumia, the recently declared NPP flagbearer, announced plans for Ghanaians to access credit and purchase cars using the Ghana Card.

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He has said the new system will use the Ghana Card as an anchor to differentiate risk between individuals and allow for greater access to credit.

Simons previously posted excerpts from the company's website, which advertised the services they offered, including both credit scores and credit reports, to show that the credit scoring promised by Dr Bawumia is nothing new.

Then, on December 5, XDS issued a press release saying that it can produce credit scores, but they have not been offering that service because doing so requires Ghana Card reach to hit 90%.

Simons and Cudjoe have now come out with evidence showing that XDS Ghana did indeed offer individual credit scoring services.

According to IMANI's Franklin Cudjoe and Bright Simons, they tracked an old website that dates back to 2021, which showed the company is being economical with the truth.

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They drew attention to xdsdatagh.com, which had credit reports and scores and shared screenshots of that page.

IMANI also pointed out that XDS has an affiliate branch in Nigeria that offers free credit scores.

In comments on the issue to YEN.com.gh, Cudjoe said the credibility of companies in the credit space must be non-negotiable.

“Imagine if it were a DNA testing centre and the fatal damage its compromise would do to a matter before the court? The next government should be careful dealing with such.”

Bawumia fires at NDC rescue mission

YEN.com.gh reported that Bawumia dismissed the National Democratic Congress' campaign to rescue Ghana from the New Patriotic Party.

Bawumia said God had already rescued Ghanaians after the NDC lost the 2016 general election.

His leading contender in the 2024 polls is expected to be former President John Mahama.

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UK firms predict victory for Mahama

Two UK research firms have predicted election victory for National Democratic Congress flagbearer John Dramani Mahama in 2024.

These predictions favouring Mahama came from the Economist Intelligence Unit and Fitch Solutions.

The Economist Intelligence Unit said the general decline in living standards will fuel Mahama's victory.

Fitch Solutions also said Mahama is expected to win the swing regions by nearly 48 percent.

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Source: YEN.com.gh

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