‘Smart formalisation’ holds the answer to Africa’s problems – Bawumia

Former Vice President of Ghana, Dr. Mahamudu Bawumia, spoke about Africa's challenges. He believes the solution lies in “smart formalisation.” This is a digital strategy to improve public administration and services.

Dr. Bawumia delivered his keynote address at the Cambridge Africa Business Conference on May 17. The theme was *‘Africa’s Digital Transformation: Building Resilient Economies Through Innovation.’* He noted that many African nations still face serious problems after over sixty years of independence.

He listed several challenges affecting the continent. These include a lack of unique identification systems and functional property address systems. The informal sector relies heavily on cash, leading to widespread financial exclusion. Other issues are high interest rates, fragmented government databases, and poor healthcare access in rural areas.

These structural problems have led to poverty, high unemployment, and low productivity across Africa. Dr. Bawumia emphasized the need for solutions to overcome these challenges.

He introduced “smart formalisation” as a way to accelerate development in Africa. He stated that digital transformation is essential for resilience on the continent.

“Smart formalisation” involves creating integrated systems for better government-citizen interaction. This would lead to improved public service delivery and increased civic engagement.

Dr. Bawumia compared this approach to post-World War II models in the Global North. He highlighted modern technologies like blockchain and artificial intelligence as opportunities for African nations.

He urged governments to embrace digital transformation as a strategic necessity. This approach can help tackle deep-rooted socio-economic issues.

In conclusion, Dr. Bawumia believes “smart formalisation” can lead to inclusive growth and better public services. It can also help build resilient economies that withstand future challenges.