Vice President Mahamudu Bawumia has clarified the role of the Economic Management Team, which he chaired under the Akufo-Addo administration.
Contrary to the narrative by a section of Ghanaians, Dr. Bawumia has explained that the EMT has no decision-making powers since it is a cabinet sub-committee.
“I was, thankfully, appointed as Chairman of the Economic Management Team (EMT). As a sub-committee to cabinet, we do not have any decision-making powers, but I am very proud of the quality of advice we have been providing over the years to cabinet,” he clarified.
He also explained his focus on digitalisation.
“So when we assumed office in 2017, as Vice President, I made the decision, with the blessings and support of the President, to focus on the critical but underdeveloped systems that would expand the economy, improve systems, and create jobs through digitalisation,” the Dr Bawumia explained.
He noted, “Therefore, as the Minister for Finance oversees the budget (fiscal policy) and the Governor of the central bank also focused on monetary and exchange rate policy, I focused on the complementary data and systems improvement that would ensure the ease of doing business and change the fundamentals of the economy, making it more dynamic and responsive to modern trends, and the management of it more scientific and efficient.”.
“As Vice President, I was asked by the President to assist in solving some of the problems that were inhibiting the transformation of Ghana’s economy. My approach was to help formalise the economy through digitalisation, as stated in our 2016 manifesto. This is why my office has had oversight responsibility for many of the government’s digitalisation projects,” he pointed out.
Dr. Bawumia has promised various policies and reforms to create a vibrant and modernised economy.
“We can only build a vibrant modern nation if we have strong systems and institutions that work.”
Dr. Bawumia noted that artificial intelligence (AI) will soon transform the world; hence, the country must prepare to harness its benefits.
”I will now come to how we are using digitalisation to transform the economy and prepare our society to be competitive as Africa is busily becoming the largest single market in the world, with its 1.4 billion people,” ”r. Bawumia said.
