Former Vice President, Dr. Mahamudu Bawumia, has highlighted the game-changing impact of digital technology on financial inclusion, by explaining how mobile technology has brought banking services to millions of unbanked Ghanaians.
Speaking at the Cambridge Africa Business Conference, Dr. Bawumia made a compelling case for a digitally empowered Africa, asserting that digital transformation is the cornerstone of the continent’s development.
He shared how Ghana’s digital journey has significantly reduced inefficiencies in public administration.
From digital land records to e-pharmacy systems, Dr. Bawumia detailed reforms that have not only improved service delivery but also saved millions in public funds. “When you digitalize, you formalise,” he stressed.
A key highlight of his presentation was Ghana’s implementation of a groundbreaking mobile money interoperability platform, which has become a model for other countries.
This platform has enabled seamless transfers between mobile money wallets and traditional bank accounts, breaking down long-standing barriers to financial inclusion.
Dr. Bawumia tackled the issue of financial exclusion, particularly among the youth and informal sector workers.
He explained how mobile technology has brought banking services to millions of unbanked Ghanaians. These innovations, he argued, are key to building economic resilience in the face of global shocks.
Declaring that “Africa’s time is now,” Dr. Bawumia said that the continent has all it needs to lead in innovation – if only leaders and institutions stay committed to bold, tech-driven reforms. Using Ghana as a beacon, he recounted how digitization has improved government transparency and expanded access to services.
He noted the implementation of a national digital property address system, the Ghana Card as a unique identifier and the interoperability system that connects financial institutions and telecoms.
He pointed out that digital platforms have allowed governments to collect revenue more efficiently, deliver social interventions with precision, and fight corruption through traceable transactions.
“When the systems work,” he stated, “the people benefit.” His remarks echoed a broader theme of building trust in public institutions through smart technology.
Dr. Bawumia emphasised the need for Africa to build homegrown digital solutions. “We cannot rely on imported systems that do not understand our unique challenges,” he warned.
He encouraged the continent’s entrepreneurs and developers to lead the next wave of African innovation and pledged Ghana’s support for regional tech collaboration.
Throughout the conference, attendees praised Dr. Bawumia’s clarity, energy, and vision. His central message that digital transformation is not a luxury but a necessity – resonated with the students, scholars, and professionals present. For many, his appearance was more than a keynote; it was a call to action.
Dr. Bawumia also acknowledged the challenges that still remain, including infrastructure gaps, digital literacy disparities and the need for more investment in cybersecurity.
However, he was optimistic: “These are not roadblocks—they are simply the next hurdles to overcome.”
The post Bawumia Tells Cambridge Biz Forum: MOMO Has Changed Ghana’s Economy …Has Brought Banking Services To The Unbanked appeared first on The Ghanaian Chronicle.
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