Digitalisation

Digitalisation of Ghana: The Role of Bawumia from Its Genesis

Google search engine

The street in the direction of digitisation of Ghana’s economic system didn’t begin immediately, it largely began underneath President Kufuor in 2007 with Dr. Paul Acquah as Governor of the Bank of Ghana who made his deputy Dr. Mahamudu Bawumia to be in cost of the digital revolution.

I get pleasure from saying that Dr. Bawumia’s position within the ‘digital coup’ underneath President Kufuor led to the introduction of Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) a wholly-owned subsidiary of the Bank of Ghana which was integrated in May 2007 with a mandate to implement and handle interoperable cost system infrastructures for banks and non-bank monetary establishments in Ghana.

I’m not stupefied when the New Patriotic Party returned to energy in 2017, Dr. Bawumia has been the champion of the digitisation of the economic system. He has confirmed past all doubt that the boldness reposed in him by President Kufuor had not relinquished and his current observe file has additional deepened his good testomony of championing a digi economic system.

I want to talk merely and instantly on this specific level. Dr. Bawumia has leveraged know-how to assist reform and enhance Ghana’s institutional and regulatory processes in the direction of the creation of a digital economic system to maintain financial progress and enhancing the wellbeing of Ghanaians. Traces of these ft could be seen at DVLA, Passport Office, GRA, Ports, NIA, NHIS, Ghana Health Service, Ghana Post, amongst different important public service centres.

The knowledge from GhIPSS signifies that worth of transaction was solely 3.8 million Ghana cedis in its first 12 months of operations (2008) and the most recent knowledge from The Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) at shut of 2020 was 77 million transactions with a price of transactions processed in 2020 was GHS 254 billion.

According to the efficiency report, GhIPSS processed a complete of 70.2 million transactions representing a progress of 142 p.c in comparison with 2020 half 12 months.
Total worth processed was GHs 158 billion, representing a progress of 40%

GhIPSS 2021 mid 12 months report additionally exhibits that the general public continues to favor actual time funds to different digital cost channels. Total quantity of actual time transactions shot up by 254.6 p.c from 16.3 million to 57.8 million, whereas whole worth of transactions jumped by 402.8% from GHs 3.8 billion in 2020 to GHs19.5 billion in 2021.

If the movers and shakers of the digital world have acknowledged the yeoman’s work spearheaded by Dr. Bawumia, who am I to remain aloof and never reward him for the sumptuous work he’s doing?

I’ll finish with a citation from the previous -Governor of the Central Bank of Nigeria & Emir of Kano, Mohammed Sanusi Lamido right here once more the testimony affirms my remark of the digital works of Dr. Bawumia.

“Your Excellency Dr. Bawumia, I’ve heard so many good issues about your work in Ghana. Your digital work I’m conscious of as a result of I occur to be on the worldwide board of MTN and we have now an working workplace in Ghana so we get reviews in Johannesburg on what is occurring in several nations. So we do know what is occurring within the digital house, Fintechs and so forth inside Ghana.

I need to say that I’m jealous as a result of the Bank of Ghana has gotten forward of the Central Bank of Nigeria on Fintech and others. We all began with banking modules, however I feel you shortly realised it was restricted and also you broke off. But I’m comfortable the central financial institution of Nigeria is on now, the roles are being reversed and we are actually copying from Ghana.

I’m positive that [Ghana’s digitalisation drive] was largely because of your enter and expertise from central banking and regulation of digital funds.”

Regardless of Sanusi’s wail for Nigeria being mild years behind Ghana within the digital agenda, nevertheless, it’s to me a refreshing factor and I’m proud of Ghana and thank God for giving Ghana Dr Bawumia at this epoch.

God bless our homeland Ghana.

By Krobea Kwabena Asante

I’m not stupefied when the New Patriotic Party returned to energy in 2017, Dr. Bawumia has been the champion of the digitisation of the economic system. He has confirmed past all doubt that the boldness reposed in him by President Kufuor had not relinquished and his current observe file has additional deepened his good testomony of championing a digi economic system.

Source: https://ghananewsupdates.com/digitalisation-of-ghana-the-role-of-bawumia-from-its-genesis/

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button