A year, after XDS Data started operations as the first credit bureau, the second Bureau, Dun and Bradstreet (D&B) is also set to start full time operations from September this year.
Listed on the New York Stock Exchange, D&B was granted a credit referencing provisional license by the Bank of Ghana in October last year.
The global company has since been putting in place the requisite operational structures including its infrastructure.
Speaking to Citi business news, the Chief Executive of Dun and Bradstreet Credit Bureau Ghana, Llenas Miguel said Ghana represents a new culture in their credit referencing operations in Africa.
According to him “D&B’s operations in Ghana is really private meaning that the investors are from our own group and from local partners but not from the Central Bank point of view meaning the Central Bank is not involved as an investor or their bankers are not involved as investors.
"In other countries like Egypt, we have the bankers, being owners together with us but we’re more like technical partners in that”.
In other developed markets where D&B operates, it churns out about a million credit reports every month but here in Ghana, it plans to start with 5 thousand reports monthly and also consider profits only after 7 years of operations.
Regarding the constraints associated with gathering of credit-related data in Ghana, Mr. Miguel said they have tailor-made solutions to deal with the situation. According to him, Ghana is to be the first country to see the full deployment of their new credit reporting system towards making Dun and Bradstreet Credit Bureau Ghana the number one in Africa.
Llenas Miguel intimated that “my personal goal with my own company is to develop bureaus totally favourable to the market with products and concepts and clients and different ways of seeing things that are not normally done by other bureaus to the market”.
He went on further to say that D&B would be introducing some new products to the Ghanaian market which would a first since its operations and the first in Africa.
He said “Ghana is the first country to receive our new career report which we have just launched which is quite different from that which we use in Egypt and other places.
"Ghana would be the first country we’re deploying this new career report”.
Llenas Miguel was speaking at a workshop with players of the banking industry.
D&B is the world’s leading source of business knowledge and information solutions, managing the world’s most valuable commercial database with information on over 195 million business entities.
Llenas Miguel is the Chief Executive of Dun and Bradstreet Credit Bureau Ghana