Former Vice President, Dr. Mahamudu Bawumia has urged African countries not to miss out on the Fourth Industrial Revolution, which he said presents great opportunities to the African continent for the transformation of its economies and the prosperity of Africans.

Speaking at Harvard University on Saturday, as keynote speaker on the theme, "Africa Beyond Borders: A Myth or a Mandate for Africa’s Progress", Dr. Bawumia warned that having missed out on the first three industrial revolutions, Africa risks staying further behind the rest of the world if it does not embrace the immense opportunities the technological fourth industrial revolution presents. 

"Africa missed the first industrial revolution which saw the transition from manual small-scale production to mechanized production in agriculture and goods like textiles, mostly powered by steam and coal energy.  Then we missed the second industrial revolution where the widespread use of electricity powered mass production and assembly lines. The third industrial revolution, which was set off by the introduction of computers also did not see Africa jump on and develop like others," Dr. Bawumia said.

"We are now in the fourth industrial revolution where the technologies have come together in a global network to create the internet, which is the greatest machine ever created by mankind, and using that to also energise tools and equipment to make them ‘smart’ to create the internet of things (IOT), and Artificial Intelligence (AI), which have opened up amazing possibilities with no end in sight."

Dr. Bawumia stressed that Africa must draw lessons from missing out on the first three revolutions, and adopt a positive mindset of possibilities to embrace the new order and progress.

"For us as a continent, the key lesson from our past experiences and those of others, developed and developing, is the awareness of the importance to recognise when something qualitatively new is going on, and for the will to face what’s new – to act boldly, decisively, yet cooperatively."

"Policymakers in Africa must act with a mindset of possibilities. We should embrace technology and not be intimidated by it. We must believe that we can leapfrog the advanced nations in many areas if we put our minds to it," the former Vice President added.

“Let me conclude by saying that the digital economy holds the key to unlocking Africa's vast potential and creating jobs for the youth. By working together – governments, businesses, educators, and innovators – we can build a future where every African has the opportunity to thrive and contribute to a brighter tomorrow.”

Concluding, Dr. Bawumia was unequivocal in his belief that the fourth industrial revolution will unlock Africa's full potential and create more opportunities for economic transformation, having highlighted to the audience, Ghana's own digital journey, and the impact it is having, as foundation for economic transformation.

"The digital economy holds the key to unlocking Africa's vast potential and creating jobs for the youth," Dr. Bawumia stressed, adding that "By working together, governments, businesses, educators, and innovators, we can build a future where every African has the opportunity to thrive and contribute to a brighter tomorrow."