Africa must embrace digitalisation – Dr Bawumia at LSE Summit

Read Comments Comments (12)

• kk 8 hours ago

  this guy needs to loose weight. The international business community he so loves to court does not take an overweight man seriously.

  this guy needs to loose weight. The international business community he so loves to court does not take an overweight man seriously.

  reply
• Nuo 7 hours ago

  I support you perfectly. Even in the brain as well

  I support you perfectly. Even in the brain as well

  reply
• Naa 7 hours ago

  Didn't the whites notice that his face looks like a fool?

  Didn't the whites notice that his face looks like a fool?

  reply
• Kofi 7 hours ago

  Well done to the visionary Bawumia. Ghana is proud of you.

  Well done to the visionary Bawumia. Ghana is proud of you.

  reply
• @Naa 2 hours ago

  Only fools like you african retarded idiot will make such a comment. You will never be able to get the audience he has. Wise people look beyond physical features unlike fools like you who look at beauty to cast your vote and ...
  read full comment

  Only fools like you african retarded idiot will make such a comment. You will never be able to get the audience he has. Wise people look beyond physical features unlike fools like you who look at beauty to cast your vote and you wonder why you live in a country labelled as "developing" country.

  reply
• K Poku-London-UK 7 hours ago

  Who took Ghana to the IMF in 2022? It was Dr Messiah Bawumia and Ken Ofori Atta- cum Akuffo Addo- The NPP Economic Messiah-Dr Bawumia. Ghana has been to the IMF 18 times- Ghana has spend 40 years under the IMF conditions out ...
  read full comment

  Who took Ghana to the IMF in 2022? It was Dr Messiah Bawumia and Ken Ofori Atta- cum Akuffo Addo- The NPP Economic Messiah-Dr Bawumia. Ghana has been to the IMF 18 times- Ghana has spend 40 years under the IMF conditions out of its 68 years history-Ghana IS A FAILED STATE. Dr Bawumia pls aren't you embarrassed by revelations at the PAC on revelations of crime committed by the very people u and Akuffo Addo appointed to run affairs of this country? What record are u going to defend. I have lost respect for you. A muslim without intergrity.
  The World Bank has pushed back against the erstwhile Akufo-Addo administration’s long-held narrative that Ghana’s 2022 economic collapse was the result of global turmoil, the COVID-19 pandemic and the Russia-Ukraine war.
  Bawumia was the Chairman of the Ghana National Economic Management Committee but he says that he was the Drivers Mate. How can a driver's mate do this when he claims he never had the chance to implement anything in government because the powers that be did not allow him. Yet he wants to claim credit for any good things that he never did yet will refuse to accept responsibility for any failure in their government. How stupid does this man think we are? You took the cedi from 4 to 17 and still had the audacity to tell us the rate of depreciation at that time was better than the previous NDC administration. What at all does this man take us for? Does he think we're stupid or what? Someone should tell this man that we haven't forgotten about the DDEP haircuts and surely we shall punish the npp again come 2028.
  
  It insisted that the economic meltdown was “homegrown”.
  
  In its latest 2025 Policy Notes on Ghana, the Bank made clear that while the COVID-19 pandemic and Russia’s invasion of Ukraine worsened the situation, they were not the root cause.
  
  “The deterioration of global conditions… was not the cause of the 2022 macroeconomic crisis; rather, it merely exposed an economy already beset with deep structural vulnerabilities and precarious macroeconomic conditions,” the report said.
  
  The government has frequently blamed external shocks for the collapse, which saw inflation spiral, the cedi plummet, and the country default on its debt.
  
  But the World Bank said years of weak governance, fiscal indiscipline, and stalled reforms were the real culprits of Ghana's "dark days".
  
  Interbank Market: Cedi trades at GH¢12.35 to $1
  
  The bank also argued that the easy access to international credit and expectations of resource windfalls encouraged short-term political decisions at the expense of long-term stability.
  
  The report noted that the cycle of expansionary spending followed by painful corrections, one that has forced Ghana into 17 IMF programs over the past 68 years, is damaging.
  
  “Sudden macroeconomic stops and crises have led the country to request a record number of IMF programs, remaining under active IMF support for 40 out of its 68 years of history,” the Bank said.
  
  The report also noted that more than 800,000 people were pushed into poverty in the aftermath of the 2022 crisis, with per capita incomes stuck at around US$2,200 for over a decade.
  
  Today, more than a quarter of Ghanaians live below the poverty line, it noted.
  
  Looking ahead, the Bank also raised alarms about Ghana’s fiscal management in the 2024 election year.
  
  It flagged unbudgeted spending commitments of roughly US$4.8 billion, equivalent to 5.7% of GDP, much of it accumulated outside official financial systems.
  
  “Spending indiscipline poses a critical challenge…undermining efforts to maintain fiscal discipline and compromising long-term sustainability,” the report cautioned.
  
  Also, the energy sector arrears still cost around 2% of GDP annually, while COCOBOD’s debts reached US$1.8 billion in 2024, with interventions distorting markets and hurting farmers.
  
  The bank warned that Ghana now stands at a critical crossroads, and temporary fixes will not be enough.
  
  “There is an urgent need to signal a clear break from the past and a commitment to change… Success will ultimately be measured by the ability of the government to regain the trust of its citizens.”
  
  Its recommendations are focused on restoring fiscal discipline, broadening the tax base, reforming state-owned enterprises, and enhancing governance.
  
  Without decisive reforms, the World Bank cautions, Ghana risks remaining trapped in its cycle of crisis and bailouts for decades to come.
  
  =-=====------
  8722222222222222222222244444444444444444444444444444455666777

  reply
• K Poku-London-UK 7 hours ago

  Who took Ghana to the IMF in 2022? It was Dr Messiah Bawumia and Ken Ofori Atta- cum Akuffo Addo- The NPP Economic Messiah-Dr Bawumia. Ghana has been to the IMF 18 times- Ghana has spend 40 years under the IMF conditions out ...
  read full comment

  Who took Ghana to the IMF in 2022? It was Dr Messiah Bawumia and Ken Ofori Atta- cum Akuffo Addo- The NPP Economic Messiah-Dr Bawumia. Ghana has been to the IMF 18 times- Ghana has spend 40 years under the IMF conditions out of its 68 years history-Ghana IS A FAILED STATE. Dr Bawumia pls aren't you embarrassed by revelations at the PAC on revelations of crime committed by the very people u and Akuffo Addo appointed to run affairs of this country? What record are u going to defend. I have lost respect for you. A muslim without intergrity.
  The World Bank has pushed back against the erstwhile Akufo-Addo administration’s long-held narrative that Ghana’s 2022 economic collapse was the result of global turmoil, the COVID-19 pandemic and the Russia-Ukraine war.
  Bawumia was the Chairman of the Ghana National Economic Management Committee but he says that he was the Drivers Mate. How can a driver's mate do this when he claims he never had the chance to implement anything in government because the powers that be did not allow him. Yet he wants to claim credit for any good things that he never did yet will refuse to accept responsibility for any failure in their government. How stupid does this man think we are? You took the cedi from 4 to 17 and still had the audacity to tell us the rate of depreciation at that time was better than the previous NDC administration. What at all does this man take us for? Does he think we're stupid or what? Someone should tell this man that we haven't forgotten about the DDEP haircuts and surely we shall punish the npp again come 2028.
  
  It insisted that the economic meltdown was “homegrown”.
  
  In its latest 2025 Policy Notes on Ghana, the Bank made clear that while the COVID-19 pandemic and Russia’s invasion of Ukraine worsened the situation, they were not the root cause.
  
  “The deterioration of global conditions… was not the cause of the 2022 macroeconomic crisis; rather, it merely exposed an economy already beset with deep structural vulnerabilities and precarious macroeconomic conditions,” the report said.
  
  The government has frequently blamed external shocks for the collapse, which saw inflation spiral, the cedi plummet, and the country default on its debt.
  
  But the World Bank said years of weak governance, fiscal indiscipline, and stalled reforms were the real culprits of Ghana's "dark days".
  
  Interbank Market: Cedi trades at GH¢12.35 to $1
  
  The bank also argued that the easy access to international credit and expectations of resource windfalls encouraged short-term political decisions at the expense of long-term stability.
  
  The report noted that the cycle of expansionary spending followed by painful corrections, one that has forced Ghana into 17 IMF programs over the past 68 years, is damaging.
  
  “Sudden macroeconomic stops and crises have led the country to request a record number of IMF programs, remaining under active IMF support for 40 out of its 68 years of history,” the Bank said.
  
  The report also noted that more than 800,000 people were pushed into poverty in the aftermath of the 2022 crisis, with per capita incomes stuck at around US$2,200 for over a decade.
  
  Today, more than a quarter of Ghanaians live below the poverty line, it noted.
  
  Looking ahead, the Bank also raised alarms about Ghana’s fiscal management in the 2024 election year.
  
  It flagged unbudgeted spending commitments of roughly US$4.8 billion, equivalent to 5.7% of GDP, much of it accumulated outside official financial systems.
  
  “Spending indiscipline poses a critical challenge…undermining efforts to maintain fiscal discipline and compromising long-term sustainability,” the report cautioned.
  
  Also, the energy sector arrears still cost around 2% of GDP annually, while COCOBOD’s debts reached US$1.8 billion in 2024, with interventions distorting markets and hurting farmers.
  
  The bank warned that Ghana now stands at a critical crossroads, and temporary fixes will not be enough.
  
  “There is an urgent need to signal a clear break from the past and a commitment to change… Success will ultimately be measured by the ability of the government to regain the trust of its citizens.”
  
  Its recommendations are focused on restoring fiscal discipline, broadening the tax base, reforming state-owned enterprises, and enhancing governance.
  
  Without decisive reforms, the World Bank cautions, Ghana risks remaining trapped in its cycle of crisis and bailouts for decades to come.
  
  =-=====------
  87222222222222222222222444444444444444444444444444444iiiioo

  reply
• Kojois 7 hours ago

  Even the dead goat who took ghana to IMF 2015 has come back to rule NDC fools.

  Even the dead goat who took ghana to IMF 2015 has come back to rule NDC fools.

  reply
• COD 5 hours ago

  We are already centuries left behind. We are still unable to enjoy reliable energy and water supply.
  Our roads are deathtraps killing us daily.
  It is not the embrace of AI (Artificial Intelligence) that will pull us up abre ...
  read full comment

  We are already centuries left behind. We are still unable to enjoy reliable energy and water supply.
  Our roads are deathtraps killing us daily.
  It is not the embrace of AI (Artificial Intelligence) that will pull us up abreast with others.

  reply
• Toda 5 hours ago

  Digitalisation Digitalisation and you sent the economy into a ditch. You promised to use drones to fight galamsey and how did it end. Stop the Digitalisation hype.

  Digitalisation Digitalisation and you sent the economy into a ditch. You promised to use drones to fight galamsey and how did it end. Stop the Digitalisation hype.

  reply
• Raphael Abeam US 5 hours ago

  The great man who has wisdom and always think ahead.

  The great man who has wisdom and always think ahead.

  reply
• Koppong 5 hours ago

  Champion,

  Champion,

  reply