Mahamudu Bawumia: From Ghana's “Economic Messiah” to a “Digitalization Visionary”

Mahamudu Bawumia soared from being a political outsider to becoming Ghana's second-in-command - and in December 2024 he could make history as the country's first Muslim president.

His political career has been characterized by transformation, resilience, and controversy. Once regarded as the New Patriotic Party's (NPP) economic expert, his current emphasis on digitalization represents a strategic shift aimed at portraying himself as a modernizer in Ghana's political environment.

Dr. Bawumia entered politics in 2008 as the NPP’s vice-presidential candidate, paired with Nana Addo Dankwa Akufo-Addo. With a background as a Deputy Governor of the Bank of Ghana and a PhD in economics, he was touted as the technocrat who could deliver economic prosperity. Although the NPP lost the elections in 2008 and again in 2012, Bawumia played a critical role in framing their campaign narratives, focusing on economic issues such as inflation, currency stabilization, and job creation.

In the aftermath of the 2012 elections, Dr. Bawumia emerged as a key figure in the NPP’s legal challenge at the Supreme Court, which sought to overturn the election results. His testimony as a witness and detailed analysis of alleged electoral irregularities earned him widespread admiration as a meticulous and strategic thinker, cementing his reputation as a party stalwart. This earned him the nickname, “Dr. Pink sheet”, and further soared his popularity especially among the NPP’s grassroots.

The 2016 elections marked a turning point for Bawumia and the NPP. Campaigning on a platform of economic reform, job creation, and anti-corruption, the party swept to power, unseating the incumbent National Democratic Congress (NDC). As Vice President, Dr. Bawumia was tasked with delivering on the NPP’s ambitious economic promises. He headed the country’s Economic Management Team (EMT), a close-knit committee of technocrats responsible for the economy, which he popularized while in opposition through relentless attacks on opponents’ “mismanagement”. Among his most notable pledges was to "arrest the dollar" and stabilize the cedi, which had been depreciating rapidly.

Initially, Bawumia’s economic stewardship seemed promising. His government implemented policies such as the reduction of import duties and the rollout of the Planting for Food and Jobs program. However, as external shocks and internal fiscal mismanagement took their toll, the economy faltered.

The cedi’s depreciation accelerated, inflation soared to a record 54%, and Ghana entered negotiations with the International Monetary Fund (IMF) for a bailout. Critics accused Bawumia of failing to live up to his promises and questioned his expertise as an economist.

Faced with economic challenges, Dr. Bawumia shifted his focus to digitalization, a move seen as both strategic and practical. Under his leadership, Ghana implemented several digital initiatives, including the Ghana Card, National Digital Property Addressing System, and mobile money interoperability. These efforts earned him praise for modernizing Ghana’s infrastructure and enhancing government efficiency.

Bawumia’s pivot to digitalization has defined his current political identity. Presenting himself as a forward-thinking leader, he argues that technology is the key to unlocking Ghana’s development potential. This shift has also helped him distance himself from his economic track record, allowing him to campaign on a platform of innovation and progress.

In 2023, Bawumia rose to the leadership of the NPP, becoming the party’s flagbearer for the country’s December 7 elections. His campaign has been characterized by a focus on digitalization and a vision of a modern, technology-driven Ghana. However, he faces significant challenges, including internal party divisions, public skepticism about his economic record, and strong opposition from the NDC, led by former President John Dramani Mahama.

As the election approaches, the question of whether Bawumia can secure victory remains uncertain. If he wins, Bawumia would become Ghana's first Muslim President, a historic moment that has the potential to transform the country's politics. However, a defeat might have serious consequences for his political career and the NPP's future, relegating it to opposition status for years.

His destiny and that of the NPP is in the balance, as the 2024 election promises to be one of the most fiercely contested in Ghana's history.