Dr. Bawumia’s policy, which aims to introduce a nationwide credit scoring system, has garnered support from Ghanaian actor Kwaku Menu. During a UTV Showbiz program, Kweku Menu stated that jobs are more important than the credit scoring system.
He explained that if a citizen is unemployed or does not have a decent job, no country can issue its citizens credit cards based on their credit score. He added that jobs put money in citizens’ pockets and bank accounts, and this gives them higher credit scores to qualify them for credit facilities to buy any asset they intend to, such as cars or building houses.
Every individual with a job receives a credit card. In other countries (abroad), if you do not work, you do not get a credit card.
He said it in the Akan language. Manu quizzed how one will use a credit card if he or she does not have a job. The actor went on to say that, as your income goes up, you get better scoring and higher credit.
He quickly added that, even in the developed world, some people’s ability to secure credit for basic needs like food is dependent on their income.
Manu went on to say that in Ghana, those who do not work are more than those who work, and graduates without jobs are more than uneducated. Upon questioning his statistics and sources, he revealed that many employed individuals earn less than GHS1000.00 per month. How many individuals receive a monthly salary of GHS 1500.00? He quizzed.
The menu indicated that those who paid GHS1500 cannot survive and that Ghanaians are buying on credit. He called on the government’s leadership to wake up and do something about the lack of jobs and the poor salaries paid to workers in Ghana. He revealed that the majority of women involved in carrying and selling their wares rely on loans to finance their sales, often incurring significant costs. Sometimes, these women have to run and hide from businesses and individuals who offer them loans.
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He added that the numerous challenges facing Ghanaians could be a contributing factor to the escape of members of Ghana’s amputee team after they ventured outside.
Jobs More Important Than Credit Scoring System – Kwaku Manu to Dr. Bawumia#UnitedShowbiz pic.twitter.com/KXgTFYvYk8
— UTV Ghana (@utvghana) July 27, 2024
In a related development, Fitch Solutions projects Ghana’s unemployment rate to remain stable at 4.0% through 2025. This translates into 1,240,000 in real numbers. It is important to note that, unemployment is worrying. There are many graduates from colleges, nursing training schools, universities, and SHS who do not have any job to live simple but decent lives and have become burdens after school. These are the masses of our nations and the question is: to what extent does credit scoring help them?
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