National Deputy Secretary of the 'Bawumia ldentifiable Groups' campaign team, Dr. Michael Kyeremanteng, has called on Ghanaians to embrace a more effective strategy for addressing the cOuntry's economic challenges. He advocated for the introduction of a 'Credit Scoring System, which he described as a solid and practical solution, instead of adopting the ambiguous concept of a 24-hour econonmy. Speaking to a gathering of artisans, entrepreneurs, market women, motor riders, and members of the National Service Personnel Association in Ho, Volta Region, Dr. Kyeremanteng shared his insights on the nation's economic struggles. He linked Ghana's current economic difficulties to the combined impacts of the COVID-19 pandemic and the ongoing Russia-Ukraine war, which he said have had widespread effects Dr. Kyeremanteng noted that these crises disrupted business operations and economic activities, forcing many enterprises, including his own, to shut down. He shared a personal example, stating, "From 2015 to 2020, I operated around 15 hospitals in Ghana, alongside two additional facilities in Europe-one 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." Dr. Kyeremanteng pointed out that many countries, including those in Europe and North America, faced similar challenges. However, they were able to stabilize their ecConomies and sustain business operations due to the implementation of a solid 'Credit Scoring System.globally.
He stressed that introducing such a system in Ghana could transform the nation's economy by allowing citizens to Conveniently access goods and services using their national identity cards. According to Dr. Kyeremanteng, this system would help narrow the gap between the rich and the poor, giving everyone the opportunity to engage in economic activities.
"In European countries, people-whether rich or poor-can access what they need througha well-structured Credit Scoring System. This systerm empowers individuals and businesses tomake purchases and gradually pay them off, improving financial inclusion and stability' he noted. 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.
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