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TAP n’ GO; The Way To Go – Ghanaian Commuters hail initiative

The leader and torchbearer of the New Patriotic Party, H.E. Alhaji Dr. Mahamudu Bawumia on Tuesday, February 20, 2024, launched the famous Tap n’ Go transport service software application; a multi-functional digital platform for Ghana’s transport ecosystem, at Kaneshie – Accra.

Dr. Bawumia launches the Tap n’ Go system

The all-inclusive digital transport platform is designed to provide quality services for the intra and intercity bus services, trotro, parcel delivery and tracking, loading taxi services, trains and the call on demand uber-like services, seamlessly.

Speaking to stakeholders in the transport industry and the public, H.E. Dr. Bawumia said, “I noted that in the past, Metro Mass Transit Limited was losing 50% of its annual revenue, but with the implementation of Tap n’ Go, the leakages have plugged and today, the Metro Mass Transit is getting more revenue from 200 buses than it did from 500 buses”

He also added that the new initiative will improve efficiency in the public transport sector, by addressing age-old challenges such as delays at the various stations, inability to identify passengers in emergency situations, corruption with drivers’ inability to account earnings, inability to effectively monitor vehicle activities and financial outcomes, lack of access to credit due to inability of financial institutions to verify the revenue performance of vehicles, circulation of fake currencies and many related challenges.

Commuters hail Dr. Bawumia

Our news desk followed up to ascertain matters on grounds to set the record straight. We made our way to the Metro Mass Transit Station at Kaneshie – Accra to interact with managers and users of the new digital transport platform. We interacted with Mr. Sam and his colleagues, who are stationed at Kaneshie to ensure the seamless operation of the Tap n’ Go software application and indicated that the software was developed by young industrious and intellectual Ghanaian developers and debunked the falsehood being speculated by a minority section of Ghanaians, with regards to the location of the CCTV server in the buses. He also indicated that the software application can be used online and offline (using QR Code), he demonstrated numerous features off the application and assured the security of users of the application. This breakdown confirms Dr. Bawumia’s position on the new development.

Our team also engaged users of Tap n’ Go to enquire their perspectives of Tap n’ Go. Mr. Henry Ativor, Ms. Linda Yawson and a retired Ghana National Service senior officer who doe not want his identity revealed commended the new development for its easy usage, stress free payment procedure and data security.

Dr. Bawumia interacts with some commuters

They urged Ghanaians to embrace the Tap n’ Go initiative and rally behind “made in Ghana” products.

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GUTA: WE ARE CONFIDENT IN DR. BAWUMIA’S POLICIES OVER THE OTHERS, THUS FAR!

The P.R.O of Ghana National Union of Traders Association (GUTA), Mr. Joseph Padi expressed full confidence in Dr. Mahamudu Bawumia’s (Flagbearer of NPP) policies as compared to other candidates who have popped up, vying to occupy the highest seat of the Republic of Ghana.

Speaking on TV3 Ghana’s Business Focus on Monday, February 12, 2024, Mr. Joseph Padi said he is really impressed, per where they come and it is something they have been calling for all these while. He also said they have been complaining of the high cost of doing business and that Dr. Mahamudu Bawumia’s policy is welcoming and timely.

BACKGROUND

This endorsement came on the back of Dr. Mahamudu Bawumia’s policy on introducing a new tax regime that will abolish the famous e-levy, emission tax, betting tax, electricity tax among other taxes. Dr. Bawumia’s vision is create a business-friendly flat tax rate. A flat tax of a percentage of income for individuals and SMEs, which constitute 98% of all businesses in Ghana, with appropriate exemption thresholds set to protect the poor.

Dr. Bawumia on February 7, 2024 outlined his Visions for Ghana, with regards to his bid to ascend the highest office of the land. The event was held at UPSA auditorium, with scores of Ghanaians and stakeholders present and pleased.

GUTA President

Mr. Joseph Padi added that they (GUTA) are looking forward to building a long standing business relation with Dr. Bawumia to see his vision come into fruition and ease the challenges that come with running business in the country.

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Dr. Bawumia Dazzle Patrons On His Selfless Leadership & Bold Solutions Vision

In a stirring event held at the Kofi Ohene Konadu Auditorium, the University of Professional Studies, Accra (UPSA), the stage was set for a momentous occasion as Ghana geared up for its next phase of leadership. The air buzzed with anticipation as distinguished guests, political stalwarts and members of the New Patriotic Party gathered to witness history unfold on the 7th of February 2024.

Dr. Mahamudu Bawumia

The atmosphere heated with positive energy as the Vice President of Ghana, Dr. Mahamudu Bawumia made his grand entry into the Kofi Ohene Konadu Auditorium, UPSA. Before delving into his vision as the spotlight fully shifted to him, the event began with a spirit-filled prayer offered by Apostle Dr. Stephen Kwame Ntow Amoani, a poignant reminder of the spiritual foundation underpinning of the nation’s regard for the Almighty God.

As the event progressed, Hon. Kojo Oppong Nkrumah, Minister of Information and Dr. Tibu Darko, Deputy General Secretary of the NPP took to the centere stage to extend a warm welcome to audience, setting the tone for what was to come and Mr. Stephen Ntim, Party Chairman, followed suit, emphasizing the party’s commitment to democracy, diversity, unity and how poised they are to attain victory in the upcoming Election 2024. Their words echoed a resounding call for solidarity, urging all to rally behind the chosen candidate and all parliamentary candidates for a brighter future.

Audience cheer Bawumia on

However, it was the presence of a towering figure from Ghana’s political landscape that added a midas touch of nostalgic and reverence to the event. Former President Kuffuor, affectionately known as Ghana’s gentle giant, graced the event with his wisdom and experience. Recalling his encounter with Dr. Bawumia over two decades ago, President Kuffuor painted a vivid picture of a man destined for greatness, a sentiment echoed by his subsequent rise in politics.

Reflecting on the challenges of modern leadership, President J. A. Kufuor emphasized the need for visionary leadership, grounded in both humility and technological prowess. His impassioned plea for competence and unity resonated deeply, transcending party lines and echoing the collective aspirations of the nation.

Bawumia Speaks

In his closing remarks, President J. A. Kufuor left no doubt about his belief in Dr. Bawumia’s ability to steer Ghana towards a brighter future. With unwavering conviction, he called upon all Ghanaians to embrace this moment of destiny, urging them to unite behind their chosen leader with renewed hope and determination. This huge endorsement was graceful and glorifying to the DMB brand and to a larger extent, the elephant family.

As the event proceeded, there was a palpable sense of optimism in the air, a shared belief that Ghana’s next chapter would be defined by selfless leadership, bold solutions, and a collective commitment to progress. In the words of President J. A. Kufuor; “Cometh the Hour, Cometh the Man is now!” and with Dr. Bawumia at the helm of affairs, Ghana is poised to write a new and inspiring chapter in its storied history.

Finally, the Man of the Moment mounted the podium and all set to deliver his masterpiece. Dr. Mahamudu Bawumia started as he unveiled his ambitious plans to propel Ghana into a new era of prosperities and opportunities. With the upcoming presidential elections looming, Dr. Bawumia’s speech captured the attention of Ghanaians nationwide, offering a glimpse into his vision for the country’s future.

Dr. Mahamudu Bawumia and wife, Hajia Samira Bawumia

The flagbearer of the New Patriotic Party began by acknowledging the pressing economic challenges facing Ghanaians, particularly in the wake of the COVID-19 pandemic and other global economic challenges. He emphasized the need to tackle rising costs of living head-on, outlining comprehensive strategies to address key areas such as agriculture, energy, housing, and transport.

Highlighting the importance of food security, Bawumia pledged to leverage technology and irrigation to boost commercial farming and enhance improved agricultural activities. He also unveiled plans to invest in renewable energy, aiming to reduce dependence on oil and gas while significantly lowering energy costs through the introduction of solar and wind power.

Underscoring Ghana’s vast natural resources, including gold, lithium, and bauxite, Bawumia emphasized the importance of value addition and Ghanaian ownership. He outlined policies to support responsible mining practices, formalize small-scale mining, and increase Ghana’s gold reserves to stabilize the national currency.

Dr. Bawumia reiterated his commitment to industrialization, particularly in sectors such as agro-processing, gold refinery, and automobile production. He emphasized the importance of empowering local businesses, reducing smuggling, and establishing special economic zones to spur economic growth and job creation.

Addressing concerns about corruption, Bawumia stressed the need for transparency and accountability in governance. He outlined plans to promote a cashless society, introduce digital currencies, and publish public contracts online to enhance transparency and reduce opportunities for corruption.

Bawumia reaffirmed his commitment to investing in education and healthcare, including expanding infrastructure at medical schools and supporting special needs students. He also emphasized the importance of caring for vulnerable groups, partnering with faith-based organizations to promote ethical values and community support.

Bringing his remarks to a conclusion, Dr. Bawumia appealed to Ghanaians to embrace his vision for the future, emphasizing his track record of integrity, hard work, and dedication to public service. He also urged Ghanaians to break free from the shackles of impossibilities and embrace the mindset of Possibilities.

With regards of the upcoming elections, Bawumia urged voters to consider the choice between progress and stagnation, pledging to lead Ghana into a new era of prosperities and opportunities.

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EX-PRESIDENT BUSTED IN ANGLOGOLD ASHANTI SAGA

Ex-President John Dramani Mahama on Thursday, January 25, 2024 visited the people of Obuasi as part of his Ashanti Regional tour, which commenced on Wednesday, January 24, 2024.

Otumfuor exposes John Mahama

The ex-president in his address to the chiefs and people of Obuasi, said his government revived the AngloGold Ashanti – Obuasi Mine in 2014. This comment caught the attention of many on social media and traditional media.

Shortly after ex-president John Mahama’s commentary, a viral video of the king of Asanteman, Otumfuo Osei Tutu – II in 2019 was seen addressing attendants thanking H.E. Nana Addo Dankwa Akufo-Addo and his government for their superb inputs in reviving the AngloGold Ashanti after so many failed attempts by previous government.

Our Research Desk delve deeper into the issue and came across a document on Tax Concession Agreement for the Obuasi Mines Redevelopment between the Republic of Ghana and AngloGold Ashanti (Ghana) Limited, which was dated 27/11/2017. In the said document, the Republic of Ghana granted about $300M tax waiver to the AngloGold Ashanti (Ghana) Limited amidst other incentives to aid the realization of the redevelopment project.

Our desk also came across a video of the Chief Executive Officer of AngloGold, Alberto Calderon at the commemoration of the first gold pour, praising the President, Nana Addo Dankwa Akufo-Addo for his assurance and relentless efforts to see the operation of the Obuasi mine. Chiefs and the good people present also heaped praises on the President for such a phenomenal job.

Mahama busted

Ex-President John Mahama has come under heavy criticisms after he has been, what the majority claim to be exposed. Scores of Ghanaians are of the view that the ex-president must rise to the occasion and act as a statesman.

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FORMER PRESIDENTS SHOULD ACT AS STATESMEN – JULIUS MALEMA SPEAKS ON AFRICA UNITY AT ARISE GHANA DIALOGUE

On January 23, 2024, Julius Malema, South Africa’s founder and leader of the Economic Freedom Fighters addressed members of the ARISE – Save Ghana movement at the College of Physicians & Surgeons auditorium, Accra.

Julius Malema

The eagerly awaited event had scores of Ghanaians seated at the auditorium and others glued by their television sets with all kinds of expectations – knowing the firebrand of a guest speaker who is about delivering his speech.

Mr. Julius Malema finally mounted the podium after short speeches by organizers and some big wigs of the National Democratic Congress. His speech was flawless and timely for the Ghanaian populace, especially at a time where the country is forging on into a general election.

In Mr. Malema’s speech, he drew the attention of audience and to an extension, the entire country to embrace unity and new ideas among the old and the youth. ‘’The old must allow the young to lead and those who served in the past must not attack new ideas’’ – Mr. Malema said

South Africa’s Opposition Leader, Julius Malema

He also urged former presidents to be content and not be moved with the idea of relinquishing power. ‘’All former Presidents should live like how all other progressive Presidents have lived, who are statesmen and are home waiting for courtesy visits and consultations, and honour states functions. Those are the duties of former Presidents’’ – he directed.

In his conclusion, Mr. Julius Malema extended an open invitation to the people of Ghana and all Africans to take advantage of the opportunities in South Africa and spread the African love.

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Dr. Bawumia has shown that he is a unifier- Kwabena Agyapong

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Kwabena Agyapong, a former general secretary of the New Patriotic Party (NPP), has praised Vice President Dr. Mahamudu Bawumia for his success and generosity after being elected as the party’s flagbearer.

One of the 10 competitors in the race, Mr. Agyapong, has publicly backed Bawumia since the results were revealed.

Kwabena Agyapong and the Venerable Bawumia in a picture

“I was one of the ten contestants in the election, and in the end, Dr. Mahamudu Bawumia emerged the winner to lead our party,” stated Agyapong, thanking NPP members in the Volta Region for their support on Sunday during Dr. Bawumia’s visit. Such competitions require both generous winners and gracious losers to demonstrate their graciousness.”

“The victor, Dr. Bawumia, has shown great generosity. He has proven this by paying visits to everyone who disagreed with him. It was lovely for the four of us to be seated at the same table with him last Friday in Kumasi.”

He’s proven to be a uniter, and I’ve also shown grace in losing. In order to guarantee that he wins and the party wins in 2024, we are cooperating.”

In order to increase the party’s vote share in 2024, Mr. Agyapong asked Volta Region party executives as well as the victors and defeaters of the most recent parliamentary primaries to band together.

Kwabena Agyapong escorts Bawumia to the North

Since 1992, we have had more votes here, and with Dr. Bawumia, I am optimistic that we will have even more and succeed next year, in shaa Allah. Thus, let’s band together and strive for success.”

NPP National Chairman Stephen Ayesu Ntim, former General Secretary Kwabena Agyapong, and Dr. Nana Ayew Afriyie, the Member of Parliament for Efiduase in the Ashanti Region, were among the delegation led by Dr. Bawumia.

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Fui Tsikata yanks Gyampo

The debate over Ghana’s first mining lease for the extraction of lithium has drawn in participation from two legal and mining specialists, Mr. Fui Tsikata and Mr. Kofi Ansah.


Legal and mining experts jointly published a paper on Monday, December 11, 2023, in which they criticized the analysis conducted by the Institute Economic Affairs (IEA), Professor Ransford Gyampo of the University of Ghana’s Political Science Department, and Mrs. Sophia Akuffo, the former Chief Justice, for making “the error of promoting form over substance.”
A former lecturer at the University of Ghana Faculty of Law, Mr. Fui Tsikata, is a renowned lawyer with over forty (40) years of experience in the mining industry. On the other hand, Mr. Kofi Ansah served as President Rawlings’ first Chief Executive Officer of the Minerals Commission from 1993 to 1999.


Despite pointing out two areas in which the government could have improved the lease, the two stated that the “widely-publicized criticisms are patently wrong” and that they are the result of an ignorance of the rules and regulations governing the mining business.
The government of Ghana granted a mining lease to Barari DV Ltd., a subsidiary of Atlantic Lithium Ltd., in October of this year so that the company could utilize lithium in Ghana. The Minister emphasized that Ghana will never export lithium in its raw form during the brief ceremony to commemorate the lease’s signing, calling it the best deal for the country.
The government of Ghana granted a mining lease to Barari DV Ltd., a subsidiary of Atlantic Lithium Ltd., in October of this year so that the company could utilize lithium in Ghana. The Minister emphasized that Ghana will never export lithium in its raw form during the brief ceremony to commemorate the lease’s signing, calling it the best deal for the country.
But several members of the public, most notably the IEA and former Chief Justice Prof. Gyampo, criticized the arrangement.


The Minerals Commission’s Chief Executive Officer, Mr. Martin Ayisi, the Minerals Income Investment Fund’s (MIIF) Chief Executive Officer, Nana Yaw Koranteng, and the Minister for Lands and Natural Resources, Hon. Samuel A. Jinapor, MP, took turns explaining to the public the procedures that led to the lease’s grant as well as its terms during a press briefing on Monday, December 11, 2023.
They maintained that the following benefits—which include the building of a refinery and the domestic sale of byproducts—are unprecedented and in Ghana’s best interests: the ten percent (10%) royalty rate, the thirteen percent (13%) free carried interest, the six percent (6%) interest secured by MIIF, and the additional three percent (3%) in the Australian listed holding company.


The Ministry and the Commission claim that the free-carried interest secured and the royalty rate are among the highest in the world. However, the company is still required to list on the Ghana Stock Exchange in order to increase Ghanaian participation to a minimum of thirty percent (30%).
Thoughts on the lease have persisted despite these justifications. The two experts think that the current state of affairs is such that a large portion of the commentary on the lease is misinformed and stems from a lack of knowledge about the mining sector.
“There are fundamental flaws in the methods used by the IEA and Professor Gyampo in computing revenues and the allocation of potential direct monetary benefits from the project that undermine the conclusions they seek to draw,” they claim.


It is a mistake to prioritize form over substance in the IEA and Ms. Akuffo’s argument that “joint venture agreements or “service contracts” are better than leases or concession contracts.”
They clarified that the project generates gross revenue of US$688 million annually, not the US$24 billion that Prof. Gyampo and the IEA had claimed. Furthermore, they clarified that the government would receive a minimum of 51 percent (51%) of the project’s revenue, rather than the 13 percent (13%) proposed by the IEA and Prof. Gyampo, when all the negotiated terms are taken into account.
According to them, the government’s earnings from mining operations are at their highest point ever, with typical operations typically providing an average of forty-five percent (45%) or less.


The two experts characterized requests for a joint venture made by the former Chief Justice and the IEA as misinterpretations of the sector. Regarding the argument pertaining to “joint ventures” and “service contracts,” it is evidently incorrect to state explicitly that they are superior to leases. The proposal doesn’t even try to compare financial terms in a way that is meaningful.
Spodumene concentrate, the beneficiated lithium ore, is the main product. They stated that they thought the government could tighten the language regarding the possibility of setting up a plant to process the concentrate from the mine and improve the pricing of this product.
They do, however, think that the government negotiated this agreement very well.


The government performed exceptionally well in obtaining the negotiated terms, according to similar analyses by Dr. Sam Jonah, the former president of Anglogold Ashanti; Dr. Kwabena Donkor, the NDC MP for Pru East; and Dr. Donkor, the former minister of power.
In response to Mr. Fui Tsikata and Ansah’s concerns, Mr. Martin Ayisi, CEO of the Minerals Commission, stated that the recommendations made by the two experts are highly appreciated. According to him, those conversations have already been taken into consideration, and additional terms need to be added to related agreements.


He clarified that the government still needs to approve the agreement with Piedmont. According to the CEO, the Commission is open to suggestions on how to do a better job. But he insisted that those criticisms be factual because many of them are not supported by the evidence.

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Govt provides GHC100million funding to young entrepreneurs — Bawumia

H.E Dr. Mahamudu Bawumia

The government has disbursed over GHC100 million as grant funding and training to youth-led start-ups and Micro, Small and Medium-Scale Enterprises (MSMEs) to generate youth entrepreneurs and leverage Ghana’s youthful population to stimulate economic empowerment and development.

Through the Ghana Jobs and Skills Project (GJSP) and the Ghana Economic Transformation Project (GETP) implemented by the Ghana Enterprises Agency, the government has provided capacity building on business management, technical assistance and grant funding to over 30,000 persons, selected start-ups and MSMEs, with many more expected to receive same in the coming year.

Addressing thousands of youth drawn from across the country at the end of a YouStartGrant Expo dubbed “Empowering Youth Entrepreneurs for a Resilient Economy” in Accra, the Vice President, Dr Mahamudu Bawumia reiterated the government’s determination to provide the youth with the necessary training and funds to make it on their own and contribute their quota to national development.

“It is exciting to note that these initiatives are ongoing efforts by the government to create an entrepreneurial economy. In September 2023, the government, through the Ghana Enterprises Agency, approved over GHC35 Million to 272 MSMEs under various components of the Ghana Economic Transformation Project (GETP).

“Also, between September 2021 and August 2022, the government supported over 780 firms with grant funding of over GHS65 Million under the GETP.

YouStart cash donations for Startups

“I am happy to announce that the Government of Ghana, through the Ghana Jobs and Skills Project (GJSP) and the Ghana Economic Transformation Project (GETP), will award grant support of almost GHS 65 million to 3,000 start-ups and MSMEs gathered here, with the total support to beneficiaries in 2023, totalling GHS 100 million. It is also important to note that a special grant package has been designed to support and empower Persons With Disabilities (PWD),” he announced.

Over 30,000 young persons and MSMEs have already received between four and five days of Business Management Training, with more entrepreneurs and start-ups and established enterprises expected to receive grant funding in 2024 under the YouStartGrant initiative.

YouStart Event in Accra

“By the end of these two Projects, the government will have supported more than 50,000 start-ups and MSMEs with technical and financial support through the Ghana Enterprises Agency.”

The overall impact of these two initiatives extends beyond financial figures and statistical metrics, the Vice President noted.

“This grant funding is not just a monetary transaction; it is an investment in the dreams, aspirations and potential of the youth. It is a signal that shows the youth of this great nation that ‘it is possible’. Through strategic partnerships and targeted interventions, we are creating an environment of possibilities where ideas flourish, businesses thrive and individuals find the means to unleash their potential. And it is surely the complementary pathway to nurture and reap the demographic dividend of having a youthful population.

“By providing financial resources alongside targeted training programs, we are empowering the youth for the paradigm shift of job creation as opposed to job seekers. I strongly believe that such Technical Assistance and catalytic grants will drive the objective of promoting private investments and business growth. This is a strategic move towards industrialisation, export expansion, and job creation.

“Let us recognise the significance of today’s grant signing ceremony in shaping the destiny of our nation. Let it re-echo in our minds and hearts that investing in the strengthening of the nation’s youth and businesses through these interventions stimulates and lays the foundations for economic growth and prosperity for all.

“By empowering the youth, we are contributing to a secure future where no one is left behind, and our nation stands as an icon of success on the international stage.”

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Support Bawumia’s suggestion to use Ghana Card as a credit rating system. It makes sense – Dr. Theo Acheampong

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Dr. Theo Acheampong, an economist, has stated that it makes sense for Ghanaians to use a credit score system starting in the upcoming year, as suggested by Vice President Dr. Mahamudu Bawumia.

He stated that in order to achieve the ultimate goal of a customized credit score, using the Ghana Card to become the credit system’s anchor must be supported.

Dr. Theo Acheampong

At the 57th Kwame Nkrumah University of Science and Technology congregation, Dr. Bawumia declared that Ghana will implement a credit scoring system the following year to enable citizens of Ghana to obtain personal loans and to assist financial institutions in managing the sharing of costs and risks with their clientele.

He believed that the credit system would guarantee debt repayment discipline.

“Ghana will launch a personal credit scoring system early in 2019.” Each person will possess a credit score. We do not yet have a credit scoring system in place.

As a result, interest rates are high and everyone is viewed as dangerous. However, we’ll talk about unique credit scores next. Therefore, you will have no credit score and difficulty getting a loan if you don’t pay back your current one. However, you will receive a great credit score and perhaps cheaper interest rates if you pay your loans back on time. More discipline will result from this, he said.

Dr. Theo Acheampong stated that “We must commend such policies” in a post on his X platform. Before the elections of 2024, the policy discussions have already begun, and some of us are here to critically examine them and suggest other directions. It is our civic obligation.

Below is the full write-up…

DR BAWUMIAH IS RIGHT: A PERSONAL CREDIT-SCORING SYSTEM DOES NOT EXIST, AND IT IS A MUST TO DEEPEN FINANCIAL ACCESS

Vice President Dr Mahamadu Bawumiah of the ruling NPP administration recently remarked, “Ghana will introduce a credit scoring system next year for citizens [individuals], which will help citizens access personal loans and help financial institutions control the allocation of risks and costs”.

 “right now our CREDIT-SCORING SYSTEM DOES NOT EXIST so everybody is seen as risky and the interest rates are high….But we are going to move into INDIVIDUALISED CREDIT SCORING…and that the Ghana Card will become the anchor for the credit system”.

According to the Bank of Ghana’s 2022 Credit Reporting Activity Report, there are currently three (3) licenced credit bureaus: XDS Data Ghana Limited, HudsonPrice Data Solutions Limited and Dun and Bradstreet Credit Bureau Limited. These companies operate under the Credit Reporting Act, 2007 (Act 726) and are involved in collecting credit data and providing credit referencing services to financial institutions. Furthermore, a total number of twenty-two (22) institutions and companies designated as data providers and authorized users of the credit reporting system were at various stages of full compliance (pp.8-9).

Pages 9 of the same report published by the Bank of Ghana notes that “Banks generally complied with data submission requirements and actively used the services of credit bureaus”.

Furthermore, 9.1 million searches were conducted by authorised users on individual borrowers or potential individual borrowers in 2022. Another 277,315 searches were conducted on businesses or corporate borrowers. By far, most of the searches were on individual borrowers (97%) compared with 3% of businesses.

However, it is important to note that the products and services offered by the Credit Bureaus are not INDIVIDUALISED CREDIT SCORING. Rather, these come in six (forms), namely:

“Consumer Basic Trace Report: This contains information on personal details, credit account summary, address history, guarantor details and telephone history. This is designed to help the lender in completing “know your customer” (KYC) documentation on the customer.

Consumer Basic Credit Report: This contains personal information, credit account summary, detailed credit facility status, and monthly payment behaviour.

Basic Commercial Report: It contains company registration details, directors and credit account summary. It is designed to provide background information on companies and basic information on credit exposure.

Consumer Credit Report – This contains the credit profile overview, credit profile summary, credit facility details, and demographic information. This report provides information on the credit exposure and repayment history of borrowers and empowers lenders to make better credit risk decisions.

Commercial Credit Report – This presents the credit history, demographic information and company profiles, and

Industry Reports – These include a variety of products to enhance the Know-Your-Customer (KYC) procedures of financial institutions with respect to banks’ business customers.”

In other words, the current data provided by the credit bureaus are amalgamated reports comprising different data points such as personal details, credit account summary, address history, guarantor details and telephone history. The companies, for one reason or another, are unable to combine this information into a COMPOSITE CREDIT SCORE such as offered by the likes of companies like Experian and TransUnion here in the UK where I am based, and which can allow the pricing of individual financial products and services. In terms of evidence, I have attached my Experian score, which currently sits at 961 out of 999 and is rated excellent. With this single number, I can access various products, including credit cards, loans, insurance, and other financial products.

Dr Bawumiah is right in the sense that an INDIVIDUALISED CREDIT SCORING does not exist in Ghana.

I am by no means an IT expert, but leveraging the Ghana Card to become the anchor of the credit system and, thereby, meet the ultimate goal of a personalised credit score is a sensible idea that all must support.

We must commend such policies. The policy debates have already started ahead of the 2024 elections, and some of us are here to interrogate them in detail and offer alternative pathways. It is our civic duty!

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Bawumia warns GRA: Use the Ghana Card to expand your tax base

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Dr. Mahamudu Buwumia, the vice president, has pleaded with the Ghana Revenue Authority (GRA) to use the Ghana Card as the foundation for data and information in order to expand the nation’s tax base.

The Life changing Ghana Card

He claimed that the government has been able to raise the percentage of individuals with Tax Identification Numbers (TINs) from the 4% it inherited in 2017 to the current 85% since the TIN and Ghana Card systems were merged.

I’m warning GRA about this. Now that we’ve put this together, I’m stating that the data is available,” the vice president stated.

Dr. Bawumia with the Asante Hene

He bemoaned, “It is a very lazy approach to go and keep looking for taxes from people who are already paying their taxes when you can look at the vast majority who are not paying their taxes,” emphasizing that greater revenue would be generated and the tax net would widen before further tax increases were necessary.

Dr Bawumia made the appeal in a keynote address at the 57th Congregation of the Kwame Nkrumah University of Science and Technology (KNUST) in Kumasi last Friday.

The Ashanti Regional Minister, Simon Osei Mensah, the Vice-Chancellor of KNUST, Professor Rita Akosua Dickson, and the Asantehene, Otumfuo Osei Tutu II, who also serves as the institution’s Chancellor, honored the occasion.

Other guests in the jam-packed KNUST Great Hall included scholars, legislators, and traditional leaders. At the 57th Congregation of the KNUST in Kumasi, Asantehene, Otumfuo Osei Tutu II (3rd from left), and Dr. Mahamudu Bawumia (3rd from right) are shown beside other of the dignitaries who were awarded honorary doctorates.

Early in the next year, the Vice-President also alluded to the introduction of a personal credit score system by the government.
He claimed that “everyone would have a credit score” and that “interest rates were higher” since there was no credit score system and everyone was viewed as dangerous.

Vice President Bawumia bows to greet Otumfo


Nevertheless, Dr. Bawumia pointed out that the government had pledged its unwavering support to improve infrastructure and facilities, including the completion of the KNUST Teaching Hospital, in order to lessen the burden of student formation and training. This was in recognition of the demands made by the Free SHS on upper education institutions.

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