By:Sarah Baafi
Speaking at Harvard University’s 27th Annual Africa Business Conference, the former Vice President of Ghana, Dr. Mahamudu Bawumia urged African leaders and policymakers to embrace technology and cultivate a “mindset of possibilities” to drive economic growth and development. The conference, themed “Africa Beyond Borders: A Myth or a Mandate for Africa’s Progress,” served as a platform for Dr. Bawumia to advocate for the pivotal role of digitalization in transforming African economies.
Dr. Bawumia reflected on Africa’s missed opportunities in previous industrial revolutions, stressing the urgency of embracing the Fourth Industrial Revolution to ensure economic transformation in the 21st century. He encouraged policymakers to adopt a proactive approach towards technology, stating: “Policymakers in Africa must act with a mindset of possibilities. We should embrace technology and not be intimidated by it. We must believe that we can leapfrog the advanced nations in many areas if we put our minds to it”.
Drawing from Ghana’s experience, Dr. Bawumia highlighted the country’s journey from a largely informal system to building a formal, data-driven economy poised to compete in the Fourth Industrial Revolution.
He emphasized the importance of leveraging digitalization to address existing challenges and lay the groundwork for future job creation, stating: “Today, we are building formal systems and a database-driven economy to compete in the Fourth Industrial Revolution. Our challenge is to use digitalization to solve current problems while laying the foundation for future jobs, leapfrogging from the Second to the Fourth Industrial Revolution”.
