XdsData queries credibility of award to rival Dun & Bradstreet

XdsData, Ghana’s pioneering credit reference bureau has questioned the credibility of the award given to rival Dun & Bradstreet on Friday, October 19, 2018 at the Movenpic Ambassador Hotel in Accra. The award also conferred on the chief executive the position of the best CEO in this financial service sector.

Speaking exclusively with Goldstreet Business, the CEO of XdsData, George Ahiafor said Dun & Bradstreet did wrong by accepting the award which the company knows it does not deserve based on the facts on the ground.

While congratulating the individuals and corporate organisations who were awarded for making an impact in the services delivery sector, he expressed his organisation’s misgiving about the reasons adduced which made the rival company a leader in the business.

“However we are at a loss as to why an institution like Dun and Bradstreet, a rival credit reference bureau, could be credited for being the Credit Bureau Company of the Year when official and available irrefutable documentary evidence provided by the Bank of Ghana placed them at the second position in all sectors of credit reference reporting,’ he added.

Continuing, he gave a history of numerous attempts by Instinct Wave through which XdsData will be awarded as the best and the CEO credited as CEO of the Year upon paying an amount of GHc25,000.00 for certain privileges.

“In line with our corporate stand, our outstanding record of rendering the best services will always speak for itself wherever our company’s therefore we do not condone paying for an award.

“Despite Instinct Wave’s insistence, we still turned down the award considering our pioneering role in conjunction with Parliament and Bank of Ghana in designing the necessary legal framework leading to the institution of the credit reference reporting system in Ghana,

“The organisers, in desperation even wanted us to be part of the ceremony even as we refused to pay yet they still wanted us to be present to give some sort of credence to their plan to sell the prizes to awardees. We vehemently refused to swallow their bait line, hook and sinker; in other words we declined to sell our credibility for a mess of pottage.

Our competitor Dunn &Bradstreet however took part in the ceremony where they were adjudged the best in the two categories – Credit Reference Bureau of the Year and their Chief Executive winning the best chief executive slot. Whether they paid for it or not, we are not in a position to verify.

However the facts as presented by the Bank of Ghana speak differently. In its Annual Credit Reference Activity Report for 2017 the central bank described XDS Data as the most patronized Credit Reference Bureau in Ghana based on four sectors: Universal Bank Subsector, Non-Banking Financial Institution (NBFI) Subsector, Rural and Community Bank (RCB) Subsector and Micro Finance Institution (MFI) Subsector.

It based its conclusions on the prevailing fact which revealed that XDS

Data is leading in the above listed categories as follows:

It based its conclusions on the prevailing fact which revealed that XDS

Data is leading in the above listed categories as follows:

XDS Data Ghana Limited 57% 46% 50% 19%
Dun & Bradstreet Credit Bureau 43% 8% 5% 16%
Hudson Price Data Solutions 0% 46% 45% 65%

 

A female voice at Instinct Wave who called herself Carol admitted hosting the award ceremony but insisted that their company is not under any compulsion to choose whoever wins an award or not based on BoG’s figures.

“These figures can at best be used to shortlist winners. What people should remember is that even being nominated makes you a winner.”

She vehemently denied any suggestion of presenting the plaques to the highest bidders saying their company is not a Father Christmas as everything they do is a cost to the company meaning attendees must pay for the services they receive, she concluded.

By Kafui Gale-Zoyiku