Bawumia Thrills Audience

Dr. Alhaji Mahamudu Bawumia was at his best behind the microphone last Thursday during a book launch of which he is a co-editor.

Being a publication about the determinants of national development, the launching offered him an opportunity to recall the economy-changing initiatives under the political auspices of former President John Agyekum Kufuor when he was Deputy Governor of the Bank of Ghana and his colleague editor, Prof. Kwaku Apeadu a policy analyst.

It was an apolitical function, a book launch, which of course drew in politicians, giants of academia and traditional rulers to the Asante Hall, Alisa Hotel venue of the activity in Accra.

He was modest yet emphatic about the gains recorded during what some have lavishly dubbed the ‘golden years’ of post-independence Ghana.

Bawumia who described the period when he served Ghana under former President Kufuor as ‘the most fulfilling in my public service career’ added that ‘Kufuor is one of the best Presidents Ghana has ever produced.’

From the gains the country reaped under Kufuor, he could not have resisted the urge to point out that ‘I am more convinced that leadership is key to national development.’

Gleefully and deservedly, he referred to the introduction of the ‘Universal Banking Act’ which expedited the transformation of the country into a hub for internet banking.

As if by rote and  to the admiration of his audience he moved on to other feats in rapid succession, the anti-money laundering act, the insolvency act, the central security deposit act, national pension act, treasury single account among others.

So much work was done according to him during the period under review that one director recalled asked him whether they did not want to leave something for their successors to come and continue. His audience could not help bursting into of mirth of laughter.

‘The body of work under President Kufuor was so phenomenal’ he said pointing out that these resulted in positive developments, among them, the chasing of people by banks to come for loans.

‘I am glad we could all be part of the process’ he said as he pointed out that countries are in competition. ‘We cannot be playing one game while others are figuring out better ways of doing it. It is a global competitive game’ he said.

Continuing he said ‘we should understand the rules. Some of them are unwritten. You have got to formalize your economy.’

It is for recipients of donor money to figure out how best to utilize them because according to him ‘they just give you the money but you as the recipient country should know the key determinants of developments.

By A.R. Gomda

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