Business Hilights
Tracking Nigeria's Headline Business News Online

Nations still relying on resources than knowledge economy’ll crash soon—Bawumia

The Vice President of Ghana, Dr Mahamudu Bawumia, has said that the era where nations relied on natural resources for socio-economic development are over, but economies that are knowledge or technology driven is in the right path.

He said the world has taken a paradigm shift to a stage where knowledge is fundamentally driving the global economy.

He averred that “Nations seeking rapid socio-economic advancement rely on a knowledge-based, rather than a resource-based approach to develop and as such Ghana cannot afford to do anything different”.

Speaking as the Guest of Honour at the 141st Speech and prize-giving Day celebration of the Mfantsipim School in Cape Coast recently, he noted that  Ghanaian government would continue to invest national resources in the development of Ghanaians through policies and programmes that would build the required knowledge needed for the growth of the economy.

The anniversary celebration which was on the theme: “Delivering Quality Secondary Education in Ghana’s paradigm shift,” brought together people from all walks of life including; eminent old boys, present students and staff, parents and other distinguished personalities from across the country.

In his further submission, Dr. Bawumia listed some of the policies of the government tailored towards knowledge-driven Ghana to include the Free SHS policy, national ID Cards and the National Digital Property Addressing system.

He said “If you look at the World today, it is a world dominated by knowledge, it is a knowledge driven global economy. It is not about resources, it is not about gold, diamond, cocoa or oil. It is fundamentally about knowledge”.