Top Development Economist backs Bawumia, says VP’s digitalization visionary, futuristic

A Development Economist and Senior Lecturer at the University for Development Studies(UDS), Dr. Michael Ayamga Adongo, has underscored the significance of digitalization in the prudent management of an economy.

He disclosed on Bolgatanga-based A1 radio monitored by MyNewsGh.com that those who choose not to migrate into what is now becoming the modern trend, risked an expensive and ineffective way of doing things.

According to him, digitalization is becoming a global trend warning that any business or country that chooses to be analog in its dealings may not keep up to speed with the pace of transformation.

“It relatively transforms how business is done, how nations relate, and how many corporate entities transact businesses. To the extent that nations that are not able to keep pace with these transformations find it extremely difficult to at certain levels of economic engagements. It is very true that as systems advance, you to a point where it becomes less attractive to do things your way.

It becomes expensive and inefficient to do things outside digitalization…largely you are left behind. You get to certain places they have electronic passports or chip-embedded passports they go scan their through and you have your paper passport and have to join a long queue.

You do realize that you have a better passport you spend less time at the airports, you spend less time at borders and you are able to go. If we had those digitized forms of documents, tracking people, the city and their activities it is easy and it also enhances the security,” he disclosed.

He however wondered if the country has the requisite infrastructure to go about the digitalization of the economy in the wake of modern trends.

“The key problem is whether we are harnessing those potentials right in the country and whether we are supporting digitization with the educational reforms and the needed infrastructure”

Dr. Ayamga was reacting to Vice President Dr. Mahamudu Bawumia’s assertion during Tuesday’s Ashesi University Lecture that digitalization of economies globally is on course warning that those who fail in this regard will become uncompetitive in the emerging global digital revolution.

Speaking at Ashesi University in the Eastern Region on Ghana’s digitization drive under the theme “Transforming an economy through digitalization: The Ghana story,” the head of the country Economic Management Team noted that Forum’s Global Information Report estimates that “an increase of 10% in a country’s digitalization score fuels a 0.75% growth in GDP per capita.”

“It is therefore clear that going forward, countries that fail to digitalize their economies are likely to be uncompetitive in the emerging global digital revolution,” he revealed.