Ghana’s Vice President Takes Aim at Top Job With Digital Shoutout

(Bloomberg) -- Ghanaian Vice President Mahamudu Bawumia, vying to be the West African nation’s next leader, touted technology as key to achieving a smaller and more efficient government.

Bawumia, the ruling New Patriotic Party’s candidate in presidential elections to be held in December, said digitalization was the way to fix the economy’s problems as he launched his campaign in the capital, Accra, on Wednesday.

He also pledged to reduce the cabinet to less than 50 ministers and deputy ministers, if he won the vote.

“I am eager to serve. I am ready to work. I am determined to make a difference,” he said in the text of his prepared remarks. “I have clarity in my mind as to what I want to do from day one if you make me President. I will not ask for a honeymoon.”

President Nana Akufo-Addo will step down after serving his second and final term. Bawumia, 60, is competing for the top job with former President John Mahama, who is running for a fourth time. If elected, Bawumia, who is the first economist in Ghana’s 66 years of independence to lead a major party, will face the task of pulling the country out of crisis.

Africa’s biggest gold producer is reorganizing most of its $47 billion public debt to meet the conditions of a $3 billion bailout program from the International Monetary Fund. The government halted payments on most of its external debt, including $13 billion in eurobonds, just over a year ago. Ghanaians are also tackling rising living coasts, with inflation hovering above 20%.

Boosting Reserves

Bawumia would aim to increase gold production to stabilize the exchange rate of the local currency, the cedi, and reduce the country’s dependence on global debt markets.

He would also leverage technology to improve the tax-to-gross domestic product ratio. At 14%, the ratio remains below the average of 33 African countries, according to Organization for Economic Cooperation and Development data. He would however scrap a controversial levy on digital transactions introduced less than two years ago. 

“My administration will introduce a very simple, citizen- and business-friendly flat tax regime,” Bawumia said.

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