{"id":252106,"date":"2024-11-18T14:34:45","date_gmt":"2024-11-18T14:34:45","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/11\/18\/choose-a-bold-solution-of-credit-scoring-system-to-address-economic-challenges-dr-kyeremanteng\/"},"modified":"2024-11-18T14:34:45","modified_gmt":"2024-11-18T14:34:45","slug":"choose-a-bold-solution-of-credit-scoring-system-to-address-economic-challenges-dr-kyeremanteng","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/11\/18\/choose-a-bold-solution-of-credit-scoring-system-to-address-economic-challenges-dr-kyeremanteng\/","title":{"rendered":"Choose a bold solution of ‘Credit Scoring System’ to address economic challenges \u2013 Dr. Kyeremanteng"},"content":{"rendered":"

<\/p>\n

\n

\"Vice Vice President, Dr. Mahamudu Bawumia<\/span><\/span><\/p>\n<\/div>\n

\n

Dr. Michael Kyeremanteng, the National Deputy Secretary for the \u2018Bawumia Identifiable Groups\u2019 campaign team, has urged Ghanaians to consider a more impactful approach to solving the nation\u2019s economic problems.<\/p>\n

He said a bold solution of implementing a \u2018Credit Scoring System\u2019 is anchored on solid grounds rather than adopting a \u201924-hour economy,\u2019 with amorphous interpretations.<\/p>\n

He made these remarks during an address to an identifiable group of artisans, entrepreneurs, market women, motor riders, and members of the National Service Personnel Association in Ho, the Volta Regional capital.<\/p>\n

Dr. Kyeremanteng attributed the current economic downturn to the combined effects of the COVID-19 pandemic and the ongoing Russia-Ukraine conflict, which he described as a global phenomenon.<\/p>\n

He explained that the global crisis had caused severe disruptions in business operations and economic activities, leading to the closure of several enterprises, including his own.<\/p>\n

He shared a personal example, stating, \u201cFrom 2015 to 2020, I operated around 15 hospitals in Ghana, alongside two additional facilities in Europe\u2014one in Germany and another in Amsterdam. However, due to the economic impact of COVID-19 and the Russia-Ukraine war, I had to close more than eight of these hospitals, including one in Europe.\u201d<\/p>\n

According to Dr. Kyeremanteng, many countries, including those in Europe and North America, were similarly affected. However, they have managed to stabilize their economies and maintain business activities, thanks to the implementation of a robust \u2018Credit Scoring System.\u2019<\/p>\n

Dr. Kyeremanteng emphasized that adopting a \u2018Credit Scoring System\u2019 in Ghana could revolutionize the economy by allowing citizens to access goods and services with ease, utilizing their national identity cards.<\/p>\n

This system, he argued, would help bridge the gap between the wealthy and the less fortunate, enabling everyone to participate in economic activities.<\/p>\n

\u201cIn European countries, people\u2014whether rich or poor\u2014can access what they need through a well-structured Credit Scoring System. This system empowers individuals and businesses to make purchases and gradually pay them off, improving financial inclusion and stability,\u201d he noted.<\/p>\n

He urged policymakers to consider this bold approach, citing it as a sustainable solution that could transform the economic landscape of Ghana, rather than relying on superficial strategies that do not address the root causes of the problem.<\/p>\n

Dr. Kyeremanteng criticized the proposal for a \u201924-hour economy\u2019 put forward by the main opposition leader, describing it as a shallow policy that fails to address the deeper issues at hand.<\/p>\n

He argued that many businesses and public institutions in Ghana already operated around the clock, yet there had been no significant improvement in the economic situation.<\/p>\n

\u201cBanks and other financial institutions already provide 24-hour services, especially with the availability of mobile interoperability, allowing customers to make transactions even at midnight. However, this has not led to any significant change in our economic situation. How, then, can the \u201924-hour economy\u2019 policy be expected to solve these problems?\u201d he questioned.<\/p>\n

Dr. Kyeremanteng further challenged Ghanaians, stating, \u201cWe have two leaders offering solutions to our economic problems. One is proposing a bold, effective solution\u2014the \u2018Credit Scoring System.\u2019 The other is offering a shallow fix with the \u201924-hour economy\u2019 policy. It is now up to you, the people of Ghana, to choose between the bold and the superficial.\u201d<\/p>\n

Dr. Kyeremanteng\u2019s critique of the \u201924-hour economy\u2019 policy underscored the need for deeper, systemic solutions that go beyond increasing operational hours and instead focus on financial inclusion and stability.<\/p>\n

Mr. Alfred Believe Ahiatsi, the Volta Regional Coordinator for the Identifiable Groups campaign team, also spoke at the event.<\/p>\n

He emphasized that the meeting was organized to provide a platform for the youth to voice their concerns and challenges in their various fields of work.<\/p>\n

The goal, he noted, was to gather feedback and identify viable solutions that could be implemented to support their economic activities.<\/p>\n

In conclusion, the call to adopt a \u2018Credit Scoring System\u2019 as a key strategy for economic reform presents a bold vision for addressing the structural issues facing Ghana\u2019s economy.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Vice President, Dr. Mahamudu Bawumia Dr. Michael Kyeremanteng, the National Deputy Secretary for the \u2018Bawumia Identifiable Groups\u2019 campaign team, has urged Ghanaians to consider a more impactful approach to solving the nation\u2019s economic problems. He said a bold solution of implementing a \u2018Credit Scoring System\u2019 is anchored on solid grounds rather than adopting a \u201924-hour […]<\/p>\n","protected":false},"author":1,"featured_media":247667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-252106","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nChoose a bold solution of 'Credit Scoring System' to address economic challenges \u2013 Dr. Kyeremanteng - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/11\/18\/choose-a-bold-solution-of-credit-scoring-system-to-address-economic-challenges-dr-kyeremanteng\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Choose a bold solution of 'Credit Scoring System' to address economic challenges \u2013 Dr. Kyeremanteng - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Vice President, Dr. Mahamudu Bawumia Dr. Michael Kyeremanteng, the National Deputy Secretary for the \u2018Bawumia Identifiable Groups\u2019 campaign team, has urged Ghanaians to consider a more impactful approach to solving the nation\u2019s economic problems. 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