KEY POINTS
- Bawumia emphasizes digitalization’s importance to Ghana’s economy.
- Calls for Ghana to be a creator, not just a consumer, of digital tools.
- Digital initiatives like Ghanacard, Ghana.gov, and e-health set the foundation.
Vice President Dr. Mahamudu Bawumia emphasized the importance of Ghana’s acceptance of the digital revolution and the crucial connection between digitalization and economic growth.
Bawumia expressed worries about skepticism regarding the economic impact of digitization while speaking at the opening of GoRide, a new digital platform for Ghanaian taxi drivers, in Accra. He warned that nations that ignore this transition run the risk of experiencing economic stagnation.
“People sometimes misunderstand our initiatives,” he said. “They see an app launch and question its relevance to the economy.” However, citing the enormous importance of digital giants in comparison to entire national economies, he contended that digital technology is changing global economics.
As an example, he pointed out that Uber’s market value of $163 billion surpasses Ghana’s entire economy, which is valued at around $75 billion. Apple, valued at $3.5 trillion, is worth 46 times Ghana’s economy, while Airbnb, at $85 billion, also outstrips it.
Ghana’s digital journey and the Fourth Industrial Revolution
From adopting digital address systems to establishing the Ghanacard and mobile money interoperability, Dr. Bawumia has been a major proponent of Ghana’s digital infrastructure.
According to him, Ghana needs to implement these measures in order to stay up with the Fourth Industrial Revolution, which requires nations to either develop or use digital tools.
He urged Ghana to actively participate by creating its own digital platforms, saying, “As we enter this new era, we have a choice to either develop our own apps or remain consumers.”
Bawumia also underlined how digitalization may boost Ghana’s economy by promoting economic inclusion and employment development.
Accordin to Graphic Online, he reaffirmed his dedication to laying the groundwork for digital innovation that is in line with international economic trends and expressed pleasure in Ghana’s digital advancements.
Bridging the gap between digitalization and economic growth
As he considered Ghana’s progress in digital technology, Bawumia emphasized the importance of mobile payment systems, e-health, Ghana.gov, and a national digital identity.
“These tools serve as our gateways to the global digital economy, guaranteeing Ghana stays ahead of the curve,” he said.
A technologically empowered Ghana will be more resilient and able to take advantage of international economic possibilities, he continued.
Bawumia finished by emphasizing that a strong digital infrastructure will enable Ghana to realize its full potential and that “for Ghana to thrive, we must focus on creating digital solutions, not just consuming them.”
