Ghana is building a formal, data-driven economy to compete in the Fourth Industrial Revolution, former Vice President, Dr Mahamudu Bawumia had stated.
He said for over 60 years after independence, Ghana had a largely informal system without many of the basic elements necessary for a modern economy, but the system is changing.
Dr Bawumia said this when he delivered the keynote address at the 2025 African Business Club Conference at Harvard University.
He shared his thoughts on how Africa can leverage the digital revolution to unlock opportunities and tackle unemployment.
Potential
He said “far too long, Africa has always come across as a laggard. Meanwhile, we have enough potential to swim with the tide and even be ahead in many disciplines. “
Lessons
Dr Bawumia underscored the fact that for Africa, the key lesson from the past experiences and those of others (developed and developing) is the awareness of the importance to recognise when something qualitatively new is going on, and for the will to face what’s new – to act boldly, decisively, yet cooperatively. “Policy makers in Africa must act with a mindset of possibilities. We should embrace technology and not be intimidated by it.“
Focus
Dr Bawumia said the focus should be on digital technology that can solve problems. “At this stage of our development, we are not looking to have driverless cars or humanoids, for example. We should aim at technology that can solve our problems in agriculture, health, education, access to credit, payment system efficiency, public service delivery, revenue mobilisation, and so on.”
Interaction
On the sidelines of the conference, the former Vice President interacted with Ghanaian students at Harvard and Massachusetts.
