Dr Mahamudu Bawumia, the New Patriotic Party (NPP) flagbearer, has defended his emphasis on digitalisation during the 2024 general election campaign, dismissing claims that he abandoned key economic issues.
Speaking at a town hall meeting in Tokyo, Japan, the former Vice President argued that digital technology has become a major driver of the global economy, making it impossible for countries to achieve sustainable economic growth without embracing it.
According to Dr Bawumia, the increasing integration of technology into global economic activities means that countries must develop strong digital frameworks to remain competitive and avoid being left behind.
“Many people don’t understand that the world economy is now digital. The world economy is digital. If you don’t go digital, you cannot prosper in this global economy. You cannot. And if you don’t take your time and put your digital framework together, you’ll be left behind,” he said.
Dr Bawumia’s comments come amid criticisms from some quarters that he focused excessively on digitalisation during the 2024 election campaign at the expense of addressing pressing economic concerns.
However, he maintained that digitalisation should not be separated from economic development, stressing that it is central to prosperity in the modern global economy.
The former Vice President also attributed the GH¢1.7 billion losses recorded by the Bank of Ghana to the central bank’s decision to trade portions of the country’s gold reserves.
Dr Bawumia argued that the losses could have been avoided if the central bank had maintained the original objective of the Gold for Reserves programme, which was to accumulate gold and strengthen the country’s reserves rather than trade the commodity.
“If they had followed the way that we had wanted to do the Gold for Reserves programme in terms of accumulating reserves, those losses would not have been made. But once you decide to start trading in gold, you will make those losses,” he said.
Meanwhile, some weeks ago, Dr Mahamudu Bawumia jabbed the NDC government, describing Ghana’s current economy as a tale of two economies.
According to Dr Bawumia, Ghana now has a paper economy and a pocket economy.
Dr Bawumia argued that despite the NDC government’s claim of lower inflation and a stronger cedi, life is still hard for Ghanaians.
Speaking at the NPP’s National Thanksgiving Service at the Church of Pentecost in Sunyani, Dr Bawumia stated, “As you can all attest, things are not going well. Things are really hard for the people. And when you ask them what they have done, they will tell you that inflation is down and the dollar is down. The reason we all want inflation and the dollar to go down is that we want it to have a positive impact and make life and the cost of living easier. But if inflation and the dollar go down and the people are suffering, is that how we want it?”.
“You cannot have a stable economy with people suffering. The stability should be a way of improving the lives of the people. So what is the use of the stability they are talking about when the people are suffering?”
Dr Bawumia added, “Have cocoa farmers benefited? They told them they will pay them 6000 cedis per bag. Has that happened? Have cashew farmers benefited? They told cashew farmers to look for land and expand their farms because they will pay them more, but that has not happened. Soybean, rice and maize farmers have all been deceived. Teachers, too, are the same. Same with nurses and doctors. Traders are also complaining because people are not buying their goods”.
“Galamsey is even worse. Maybe when they mentioned 1:3:3, they meant galamsey because galamsey has now more than tripled. Dr Sam Jonah said our river bodies now look like chocolate milk. They said they would end galamsey within one month, but they have failed”.
“They promised Ghanaians a new economy called a 24-hour economy. We have been waiting for nearly 2 years to see it, but it has not happened. Clearly they did not even understand what they were talking about. It was campaign propaganda to deceive Ghanaians. They said 1:3:3 – one job for three people, and the question Ghanaians are asking is, where are the jobs? They also promised to complete Agenda 111 hospitals, but they have failed”.
He added, “One is a paper economy – they say inflation is down and the exchange rate is down. The second economy is the pocket economy – the high cost of living and your sufferings. That is more important to the people of Ghana. The stability of the economy is meaningless if it cannot be linked to the liberation of the suffering of our people”.
Watch the video below:
NPP flagbearer Dr. Mahamudu Bawumia has held a town hall meeting with Ghanaians in Japan, where he raised concerns about what he described as the poor management of certain aspects of the Ghanaian economy. He also addressed the alleged losses recorded by GoldBod, arguing that they could have been avoided if the government had followed the procedures established by the previous administration for the gold reserves initiative. [🎥: Metro TV]
— SIKAOFFICIAL🦍 (@SIKAOFFICIAL1) November 5, 2026
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