The dark side of rapid digitalization in Ghana that Dr. Bawumia might have overlooked; digitalization’s threat to the cedi

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• The dark side of rapid digitalization 1 year ago

  I don't totally agree with the author

  I don't totally agree with the author

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• Enough is Enough 1 year ago

  Sure
  But I think you should analyze the things more closely.
  His basic issue is "dependency on foreign stuff. We may not e able to eradicate all forms of imports but can do a lot about encouraging local production.
  As lon ...
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  Sure
  But I think you should analyze the things more closely.
  His basic issue is "dependency on foreign stuff. We may not e able to eradicate all forms of imports but can do a lot about encouraging local production.
  As long as we're depending on foreign goods and services, we will need the foreign currencies, making them to always be in demand --hence, the effects on the cedi.
  
  We're making them rich by depending on them. Thr profits go over there.
  All the phones we are using in Ghana generates profit for them because we import all the phones. Now, we import phones with foreign currencies. And this cuts across any other sort of goods and services.
  
  If we can apply what we learnt years back in JHS concerning "why Ghana is struggling to develop," things can change massively.
  
  I believe we can create our own ride-hailing app use, making the owners generate profit. They will in turn use their profit to buy kenkey in Ghana. That makes the money circulate within., other than giving it out to the owners out there. And this also cuts across all other goods and services.
  
  Producing what we use and using what we produce is all that Ghana need.
  
  Thanks

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• Help 1 year ago

  You’re right, when you consider how much we need to import vegetables and other essential foodstuff from our neighbours. Lasttume I checked, they don’t use Cedi as their currency.
  
  We should encourage and support local ...
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  You’re right, when you consider how much we need to import vegetables and other essential foodstuff from our neighbours. Lasttume I checked, they don’t use Cedi as their currency.
  
  We should encourage and support local farmers and manufacturers at the very least and reduce importation of our basics from neighbouring countries.

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• Afutuo 1 year ago

  That’s wrong to chose Cedi,Overllooked to his own Moslem people who runs him down ,this is the fact

  That’s wrong to chose Cedi,Overllooked to his own Moslem people who runs him down ,this is the fact

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• Bg F 1 year ago

  I knew all the secret printing press these NPP fools printed the EC ballot papers to rig the election.
  we are monitoring on where they are hiding the drugs and foreign currencies
  it is time for accountability and we are ...
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  I knew all the secret printing press these NPP fools printed the EC ballot papers to rig the election.
  we are monitoring on where they are hiding the drugs and foreign currencies
  it is time for accountability and we are ready give out information to incoming government
  if you went to join us in this fight just Call bold Citizen on 0277624585

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• Emmanuel 1 year ago

  Ghana is not ripe for digitalization.It is like pouring new wine into old wine-skins.

  Ghana is not ripe for digitalization.It is like pouring new wine into old wine-skins.

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• Natural Mystic. 1 year ago

  Bawumia, your naivity went overboard. Digitalization begun NOT with you.Politicizing it, over ambitiously to submerge NPP loots created cancer for you Natural Mystic thus flushed you out.Think sensibly, make haste slowly.

  Bawumia, your naivity went overboard. Digitalization begun NOT with you.Politicizing it, over ambitiously to submerge NPP loots created cancer for you Natural Mystic thus flushed you out.Think sensibly, make haste slowly.

  reply
• NANA KWADWO ADUSEI 1 year ago

  To be fair trading, we must export more to bring in foreign currency to beat how much money we spend on digitization. We mustn't be afraid of competition. Thanks.

  To be fair trading, we must export more to bring in foreign currency to beat how much money we spend on digitization. We mustn't be afraid of competition. Thanks.

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• Commentator 1 year ago

  All your write up was talking about how these tech companies and telecos will generate money and send to their home country. What happened to us the citizens also creating our own tech companies to cm.pete with them? You refu ...
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  All your write up was talking about how these tech companies and telecos will generate money and send to their home country. What happened to us the citizens also creating our own tech companies to cm.pete with them? You refused to mention "shaxi" which is also an online taxi app owned by a Ghanaian. The owner has challenged Ghanaians that it's possible to own an app like unber and the rest. Your reason for the disadvantage of "digitalisation" is not strong enough.

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• Opanin Kwabena Dakwa, J'burg, SA 1 year ago

  I am an NPP sympathiser but honestly, I didn't know why Dr. Bawumia highlighted digitalization in his campaign speeches at a crucial time like elections when the economy was at a mess. Digitalization wasn't what bothered the ...
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  I am an NPP sympathiser but honestly, I didn't know why Dr. Bawumia highlighted digitalization in his campaign speeches at a crucial time like elections when the economy was at a mess. Digitalization wasn't what bothered the voter, but how to put food on the table for his family, pay rent, etc.

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• Kwame 1 year ago

  Nobody is joining the dots, to the global players.
  WEF, other who want a ONE WORLD GOVERÑMENT want everybody's details, what's the best way ID cards.
  Is Ghana a member of the WEF?
  
  There's many things going on we the peo ...
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  Nobody is joining the dots, to the global players.
  WEF, other who want a ONE WORLD GOVERÑMENT want everybody's details, what's the best way ID cards.
  Is Ghana a member of the WEF?
  
  There's many things going on we the people don't know.
  Governments should be for their own country, we really play to other countries tune, people what the western style life here.
  It happening those above university line, live in a different world, all for self, those under the line are not considered, the just through crumbs to them.
  They are controlled by the dark forces, materialistic, not Godly, forget they cannot take a single hair into the next life. There's no money power control.
  Why There's so much dark power around.

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• KWASI IN EUROPE 1 year ago

  The average Ghanaian is disturbed about the poisoning of Ghana's water bodies. If farms are not destroyed and we have clean water and a lot of food, nobody will think about the dollar, Euro or cedi. In Germany there is a lot ...
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  The average Ghanaian is disturbed about the poisoning of Ghana's water bodies. If farms are not destroyed and we have clean water and a lot of food, nobody will think about the dollar, Euro or cedi. In Germany there is a lot of food. There is even coconut all year round when Germans have not even seen a coconut tree before. If food is always available 99% of all problems have been solved. It would have still been 1 dollar to 1 Cedi if nobody needs the phone to be making calls to make arrangemments that will enable him put food on the table.

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• À ç t ï ø ñ 1 year ago

  Bawuliar doesn't know anything

  Bawuliar doesn't know anything

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• Mark 1 year ago

  Why such a post now? Why didn't the subjection approach the vice for further angles and perspective but now that the man lost the election, then coming up with this plenty English. All that the write said the NPP government d ...
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  Why such a post now? Why didn't the subjection approach the vice for further angles and perspective but now that the man lost the election, then coming up with this plenty English. All that the write said the NPP government did all that: foreign investors are sending their money long before this NPP came into power yet dollar was ¢4 then. Digitalization wouldn't affect our cedi. Corruption is what destroys everything. When we say corruption it seems people doesn't understand the entire scope.
  
  Corruption is always accompany by bad governance. If your income is ¢10 a day as a country and you want to spend ¢30 a day therefore you want to go and borrow amount to bad governance and corruption. And this is how the white man is making a fool out of Africans. So if you have a natural resource that can equally give you the ¢30 you need daily should you strike a good deal with the white man, because of corruption, you will take ¢10 for the country then the white man gives you ¢1 for your personal pocket then he turned around to borrow you ¢20 after selling your natural resources at ¢500 sometimes to you. That is how bad corruption and bad governance is. So let the vice relax and check his how far.

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• Adu-Sei Amankwah 1 year ago

  It's unbelievable for anyone to write against digitisation in this current world environment.
  How does the fact of Ghana printing cedis in London at a cost of 20% charge of the face value. Madness!
  Do you also know that di ...
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  It's unbelievable for anyone to write against digitisation in this current world environment.
  How does the fact of Ghana printing cedis in London at a cost of 20% charge of the face value. Madness!
  Do you also know that digitisation prevents corruption since monies does not change hands in transactions.
  Very unfortunate Ghana. I am neither for any of the parties.
  Writing as an informed Ghanaian.

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• BB 1 year ago

  Most of these apps created by vice president are hosted in cloud services like AWS and Azure which require dollars to service their operations. For example, the GhanaPost GPS relies on Google maps to deliver its service and a ...
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  Most of these apps created by vice president are hosted in cloud services like AWS and Azure which require dollars to service their operations. For example, the GhanaPost GPS relies on Google maps to deliver its service and at the time of lunch, Ghana was paying over $400,000 a month to use the Google map services incorporated into it and all of these require dollars to be exported out of the country thereby contributing to the depreciation of the cedi.
  
  A typical example is the elevy API which helps in calculating the elevy tax resides in AWS cloud and I wonder how much GRA is paying in terms of dollars to keep the service running for elevy.

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• Essilfe Aihoon 1 year ago

  Indeed local entrepreneurs should be encouraged with this digitalization drive. If all these IT systems NPP and NDC used in collating their party's results were good or efficient enough then surely an investment in developing ...
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  Indeed local entrepreneurs should be encouraged with this digitalization drive. If all these IT systems NPP and NDC used in collating their party's results were good or efficient enough then surely an investment in developing these local apps should be encouraged.

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• Shamu 1 year ago

  I think you are out of step with events. All that you have talked about happen in the traditional economy too. Foreign owned companies have been repartriating their profits in the form of dollars since time immemorial. Again, ...
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  I think you are out of step with events. All that you have talked about happen in the traditional economy too. Foreign owned companies have been repartriating their profits in the form of dollars since time immemorial. Again, the tendency to consume more of foreign commodities by Ghanaians is there for long time and shall continue to remain so into the future, if we don't produce such goods in the country.
  If you have missed the point, the Vice President hints of putting measures in place through which the youths shall acquire digital skills and with that, they can be employed by companies abroad and through that, they'll be paid in hard foreign currencies, which will see inflows of dollars into the country same way as investors repatriate their profits in dollar terms, and that will reduce the pressure on the cedi in a way. In addition, through the digital literacy the youths can become innovative in the ways you are talking about.

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• Raymond 12 months ago

  Who said Uber's $160bn valuation is due to the app only. The revenue is due to the services Uber provides. The app is just a means to using the services and paying for them. How can this be lost to the VP?

  Who said Uber's $160bn valuation is due to the app only. The revenue is due to the services Uber provides. The app is just a means to using the services and paying for them. How can this be lost to the VP?

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