Dun & Bradstreet announced the opening of its credit bureau operations in Ghana. After having received a license from the Bank of Ghana to operate a credit reference bureau, D&B is excited about launching business operations in the Ghanaian market.
The main objective of this credit bureau is to provide information on the credit repayment trends of individuals and companies. The credit bureau will allow financial institutions to make an inquiry or check on a consumer or commercial entity before approving any form of credit or deciding on whether to sustain the credit granted. The credit bureau aggregates information among participating member financial institutions to provide the credit decision-maker with a more complete risk profile to enhance their risk mitigation capabilities.
The credit bureau will become a key player in the lending business as it will provide financial institutions with a better risk management tool and the bank customers will be better evaluated on their credit worthiness.
Within the African region, D&B has implemented bureaus in countries like Egypt, Nigeria and Libya.
“D&B is pleased to launch business operations in Ghana and will work on creating a sustainable financial infrastructure in Ghana. Our experience with government and private credit bureaus across the world has facilitated us in building this robust bureau for Ghana”, says Miguel Llenas, Executive Vice President, at D&B Credit Bureau Ltd.
Source: Dun & Bradstreet Credit Bureau Ltd.