The vision of a credit-friendly economy in Ghana is being realised through digital innovations championed by former Vice President Dr Mahamudu Bawumia, as companies like Star Oil Ghana introduce tech-enabled services allowing drivers to purchase fuel on credit.
Speaking on the potential impact of a credit-led economy, a source close to economic policy analysis highlighted that “expanding access to credit is not just about convenience, it is about unlocking opportunity, improving the quality of life for millions, and stimulating sustainable economic growth.”
The Star Oil initiative, launched recently, uses the Ghana Card, the National Identification Authority (NIA) Face ID system, and the myCreditScore platform to allow drivers to buy fuel on credit and pay later via their mobile money accounts. The process is seamless: identity verification, credit scoring, and automated wallet payments ensure efficiency while reducing the financial strain on everyday commuters.
“This is not an abstract promise; it is a functioning, tech-enabled service improving everyday lives,” the source said, noting that the infrastructure enabling such innovation was built under Dr Bawumia’s leadership, including the national digital ID system, digital address system, and interoperable mobile money network.
By linking credit access directly to digital identity and mobile payment systems, the initiative is a practical example of how a robust digital economy can empower citizens, increase purchasing power, and stimulate demand for goods and services.
Analysts say such demand further supports local entrepreneurs and strengthens national economic growth.
“This entire process—identity verification, credit scoring, interoperability, and automated payments—is made possible because the digital rails already exist. Rails that were designed, constructed, and operationalised under Dr Bawumia’s leadership,” the source added.
Observers believe that the success of Star Oil’s scheme demonstrates the potential of scaling a full credit-led national economic agenda in Ghana, highlighting the benefits of digital infrastructure in transforming everyday financial interactions.
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