Former President and flagbearer of the opposition National Democratic Congress (NDC), John Mahama, says that the next NDC administration will fully embrace technologies, including Artificial Intelligence (AI), as a critical component of their governance and development strategy.

According to him, Ghana stands at a critical and troubling crossroads, noting that the country has become a bankrupt and collapsed economy due to poor leadership.

He said this during the 8th Ghana CEO Summit and CEO Excellence Awards at the Kempinski Gold Coast Hotel on Monday, May 27.

The one-day summit was under the theme: "Reigniting Business and Economic Growth: Charting a Path Forward; Economic Diversification and Artificial Intelligence Transformation. A Private-Public Sector CEO Dialogue & High Impact-Learn.”

The former President emphasised the importance of collaboration to foster a supportive business environment and economic stability in Ghana. 

He highlighted persistent issues such as limited access to credit, high taxation, inflation, and regulatory hurdles, stressing the need for cooperation between the government and businesses. 

He also emphasised the significance of digital transformation and a 24-hour economy policy to enhance competitiveness, attract investments, and stimulate socio-economic development.

Mr Mahama noted the rapid advancements in AI, machine learning, and robotics, stressing that the next NDC administration under his leadership will fully embrace these technologies. 

He criticised the current government's economic mismanagement, which has led to high unemployment, inflation, and a weakened currency, urging business leaders to remain hopeful and committed to working with a new administration to create a conducive business environment.

Mr Mahama outlined plans to stabilise the economy through fiscal consolidation, reducing government expenditures, and boosting revenues. 

He emphasised the importance of economic diversification, focusing on agriculture, agribusiness, tourism, light industries, manufacturing, and the creative industries, advocating for investing in new sectors to create job opportunities and reduce poverty.

He underscored the need for vocational and technical training, leveraging AI for economic transformation, and implementing a 24-hour economy to increase economic activity and employment. 

The NDC flagbearer also called for an open and transparent regulatory framework to foster innovation and entrepreneurship, and highlighted the importance of collaboration between the private and public sectors, as well as academia, to achieve economic diversification and transformation.

“Economic diversification is imperative for reducing dependence on traditional industries and building resilience against external shocks. Collaboration between the private and public sectors is indispensable in this endeavour. We must work with the government, policymakers, and other stakeholders to create an enabling environment for innovation and entrepreneurship. 

“Through initiatives like an Annual presidential-CEO dialogue, we will foster open communication, identify common challenges, and develop actionable strategies to unlock the full potential of economic diversification, technology, and AI transformation,” he said.

He emphasised the role of CEOs in reigniting business and economic growth in Ghana through collaboration, innovation, and strategic leadership, aiming for a diversified and prosperous economic landscape. 

“Through collaboration, innovation, and strategic leadership, you, as the corporate leaders and captains of industry, will help chart a path forward towards a more prosperous, resilient, and inclusive future for all Ghanaians. 

“Our goal is an economically diversified landscape characterised by a balanced mix of industries and markets producing various higher-value-added activities. Working together with you, we can build the Ghana we want,” he said.