Bawumia highlights link between digitalization and the economy

Vice President Dr. Mahamudu Bawumia expressed astonishment on Wednesday at views downplaying the role of digitalization in modern economies, stressing that countries not embracing the digital revolution risk falling behind.

Speaking at the launch of GoRide, a new digital platform for Ghanaian taxi drivers, in Accra, Dr. Bawumia highlighted how digital innovation is transforming economies globally and called on Ghanaians to take part in the Fourth Industrial Revolution.

"Sometimes people don’t quite get what we are doing," he remarked. "They say, ‘Oh, the Vice President is launching an app,’ and question what that has to do with the economy."

To underscore his point, Dr. Bawumia compared the value of global digital giants to Ghana’s economy, illustrating how a single app or platform can generate value far exceeding entire national economies. "When you look at a company like Uber, which is an app for ride-hailing, what is its value? I checked yesterday—the most recent value for Uber is $163 billion. That’s twice the whole of Ghana's economy, which is $75 billion," he explained. 

He continued, "Apple is worth $3.5 trillion dollars—46 times Ghana’s total economy—because they are building apps that we are all using. Even Airbnb is worth $85 billion, more than Ghana’s economy, from just one app."

The Vice President, who has championed several digital initiatives in Ghana, emphasized that adopting digital infrastructure such as a national identity system, mobile money interoperability, and digital addresses is critical for the country to participate fully in the global digital economy. "In this Fourth Industrial Revolution, you must understand the link between digitalization and the economy," he stressed.

According to Dr. Bawumia, countries that fail to develop their own digital tools are at risk of becoming mere users rather than creators. "So, as you enter the Fourth Industrial Revolution, you’re either going to be developers of these apps or users of these apps, and we have to make that choice,” he said. "If you want to empower your local economy and be a full participant, you have to be developing many of these apps."

Reflecting on Ghana's digital journey, Dr. Bawumia said he was proud to have contributed to advancing the nation's digital infrastructure. "This is the thinking behind Ghanacard, mobile money interoperability, digital addresses, Ghana.gov, e-health, and everything else we’re doing. We’re going to make sure Ghana is not left behind in the digital revolution and needs to see more local empowerment in this space."