Former Vice President of Ghana, Dr. Mahamudu Bawumia, asked African policymakers to integrate a futuristic paradigm with technology and innovation as drivers of economic change.
Speaking at Harvard University in Boston at the 27th Annual Conference of Beyond Borders: A Myth or a Mandate for Africa's Progress?, Dr. Bawumia emphasized digitalization as crucial to accelerated development on the continent, which would bring the end of Africa's development difficulties.
In his address, Dr. Bawumia urged African leaders to act with a "mindset of possibilities."Policymakers must act with a mindset of possibilities. We must seize technology and not be afraid of it. We must believe in the conviction that we can overtake developed countries in so many areas if we are resolute," he asserted.
Dr. Bawumia further emphasized Ghana's evolving economic climate, as the country had spent over six decades utilizing informal economic structures since the country gained its independence. Despite this, he clarified that meaningful strides are being made in building a formalized data-driven economy with the capability to compete during the Fourth Industrial Revolution.
He went on to say that the current shift toward formalized platforms and digital formats was crucial to the country's future economic horizon.
"Today, we are designing formal systems and a database-based economy to compete in the Fourth Industrial Revolution. Our challenge is to use digitalization to solve problems today and lay the foundation for jobs of the future, jumping from the Second to the Fourth Industrial Revolution," Dr. Bawumia asserted.
The former Vice President underlined the imperative to technology-led policies that address present economic issues while creating employment prospects for sustainable futures and enabling African economies to become competitive globally.
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