Ghana’s former Vice President, Dr. Mahamudu Bawumia, has said that innovation potential abounds in Africa, except that the continent lacks the systems that can help scale up and sustain these ideas.
Dr. Bawumia says that when these ideas are complemented with ecosystems that reward them, it will help keep the ambition to take the continent where it deserves.
According to him, the absence of reliable infrastructure, capital accessibility, and a culture of trust has hindered the growth and sustainability of these innovations.
Speaking at the Cambridge Africa Business Conference themed ‘Africa’s Digital Transformation: Building Resilient Economies Through Innovation,’ on Saturday, May 17, 2025, Dr. Bawumia stated, “Africa does not lack innovation. We lack systems that scale it. We do not lack ideas. We lack ecosystems that reward and retain them. We do not lack ambition. We lack access to capital, infrastructure, and trust.”
He foresees an Africa where its innovations will be embraced by the global world.
Dr. Bawumia cited scenarios such as a tech start-up in Nairobi serving clients in São Paulo, or a shea butter cooperative in Tamale selling directly to buyers in Tokyo using blockchain traceability, as part of the heights the continent can attain.
The former Deputy Governor of the Bank of Ghana reemphasised the need to view Africa’s innovations as the norm, not an exception.
He urged African nations to focus on building robust systems and ecosystems that can nurture and scale innovations, thereby unlocking the continent’s full economic potential.
Bawumia visits injured KNUST student at KATH, donates GHC50k to support medical bills
