Biography of Mahamadu Bawumia: Real age, date of birth, wife, children, net worth, contact
Mahamudu Bawumia is a well-known economist and currently the Vice-President of the people of Ghana. He turned into a Deputy Governor of the Bank of Ghana till his appointment as Vice Presidential candidate for the New Patriotic Party (NPP) Presidential led by President Nana Akufo-Addo in 2008.
He additionally ran as the vice-presidential candidate of the New Patriotic Party (NPP) in Ghana’s 2012 nationwide general elections and was the lead witness for the petitioners in 2012/2013 which the NPP lost.
Bawumia is legally married to Samira Bawumia and they have 4 children.
Bawumia who was born on October 7, 1963, in Tamale to Alhaji Mumuni Bawumia who is late. His father is the former Chairman of the Council of State (1992–2000), and Hajia Mariama Bawumia.
His father aside from being chief was also a founding member of the Northern Peoples’ Party along with Chief S. D. Dombo, the Tolon Naa, and J. A. Braimah, Kabachewura, Chief Abeifa Karbo, Yakubu Tali
The Northern Peoples Party, collectively with the National Liberation Movement and different opposition political groups later merged into the United Party, the present-day New Patriotic Party.
Alhaji Bawumia served beneath numerous Ghanaian governments in diverse capacities, which includes a member of the Northern Territories Council, the Gold Coast Legislative Assembly, Northern Regional Minister, a Member of Parliament of the First Republic, and Ghana Ambassador to the Kingdom of Saudi Arabia.
In March 1999 Alhaji Mahamudu Bawumia was given the very best country-wide honor, the club of the Order of the Star of Ghana.
Born right into a massive family, H.E Mahamudu Bawumia became the 12th of his father’s 18 kids and the second one of his mother’s 5.
He attended the Sakasaka Primary school in Tamale in the northern region of Ghana and in 1975 received admission to Tamale Secondary School. He became President of the Ghana United Nations Students’ Association (GUNSA) in 1981.
After graduating from Tamale Secondary School, he went to the UK where he studied banking and received the Chartered Institute of Bankers Diploma (ACIB). He had a First Class Honours Degree in Economics at Buckingham University in 1987.
He then received a master’s diploma in Economics at Lincoln College, Oxford, and received a Ph.D. in Economics at the Simon Fraser University in Vancouver, British Columbia, Canada in the year 1995.
His regions of specialization encompass Macroeconomics, International Economics, Development Economics, and Monetary Policy. He has several publications.
Starting from early 1988 to 1990, Bawumia labored as a lecturer in Monetary Economics, and International Finance at the Emile Woolf College of Accountancy in London, England.
He, later on, served as an economist at the relevant Research Department of the International Monetary Fund in the USA, Washington, DC.
Later on in1996 and 2000, H.E Bawumia served as an Assistant Professor in Economics at Hankamer School of Business, also based in the US. Baylor University, Texas, USA, in which he additionally obtained the Young Researcher Award in the year 1998. Also In 1999, he changed into indexed “Who is Who Among America’s Teachers’
Mahamudu Bawumia lowers back to Ghana in 2000 to paint as an economist at the Bank of Ghana. He rose from Senior Economist to Head of Department, and in the end as Special Assistant to the Governor of the Bank. President J.A. Kufuor appointed Bawumia as Deputy Governor of the Bank of Ghana in June 2006.
At the Bank of Ghana Bawumia: As Head of the Monetary Policy and Financial Stability Department, he changed into a part of the crew that designed and applied the inflation-concentrated framework that keeps to manual economic coverage and the workings of the Monetary Policy Committee on the Bank of Ghana.
The inflation-concentrated framework mounted decreased inflation from over 40% in 2000 to 10.2% with the aid of using 2007 (i.e., earlier than the oil fee surprise of 2007/2008) at the same time as retaining relative alternate fee stability. Was a part of the crew that changed into instrumental in designing and enforcing coverage projects consisting of the abolition of the secondary reserve necessities and the hole up of the banking zone to competition.
This led to a first-rate boom withinside the availability of credit scores to the non-public zone from 12.5% of GDP in 2001 to 28.5% of GDP with the aid of using 2008.
Led Bank of Ghana’s technical negotiation crew and changed into the authorities crew that negotiated with the World Bank and International Monetary Fund on account that 2001 via HIPC and PRGF. Partly due to those negotiations, Ghana with the aid of using 2007 effectively ended its dependence on IMF assistance.
Served as a member of the Government technical negotiating crew on HIPC Paris Club and Completion Point Negotiations. Ghana finished the HIPC technique effectively with tremendous debt comfort of near to $four billion. He changed into a member of the Government Team to Negotiate the Millennium Challenge Account Compact with American Government.
The MCA resulted in lots of tremendous tasks consisting of the currently inaugurated George Bush Highway. He Was a member of the Government Technical Team at the Deregulation of Ghana’s Petroleum Sector.
As Chairman of the Capital Markets Committee changed into accountable for the method for having access to the global capital markets with a debut US$750 million, which changed into 4 instances oversubscribed. Was a part of the crew that designed and applied the successful redenomination of the cedi. Through; his intervention, the cedi changed massively and ain’t strength against other foreign currencies.
Significant financial savings had been additionally made with the aid of using the Bank of Ghana in foreign money printing costs. He Was worried withinside the layout and implementation of the e-zwich not unusual place platform for all banks, financial savings and loans companies, and rural banks, imparting interoperability throughout one-of-a-kind monetary institutions. As the Deputy Governor in fee of monetary stability oversaw the steadiness of the banking zone.
As Deputy responsible Governor Bawumia duly served on the Boards of the prestigious Bank of Ghana, Ghana International Bank (UK) Ghana Telecom, Revenue Agencies Governing Board, Social Security, and National Insurance Trust. Right after the 2008 election Bawumia resigned as Deputy Governor of the Bank of Ghana.
Mahamudu Bawumia was the appointed running mate to the Akuffo Addeo lead New Patriotic Party candidate during the 2008 general elections. The NPP improved its percentage of the vote in comparison to 2004 in all of the 3 Northern Regions, in each of the primary and 2nd rounds.
H.E Bawumia duly served as a Consultant to the Economic Commission of Africa between February and March 2009. Between the month of April and October 2009, he changed into a Visiting Scholar at the University of British Columbia Liu Centre for Global Studies and UBC Fisheries Centre.
Alhaji Bawumia also served adequately on these and many other functions until his reappointment to be the Vice-Presidential Candidate to Nana Akufo-Addo on the flagship of the NPP for Ghana’s 2012 General Presidential Election.
In March 2012, Bawumia was re-appointed to be the Vice-Presidential Candidate to Nana Akufo-Addo for the 2012 General Elections.
The Party gained ten (10) seats within the Northern Region which includes Bimbilla, Chereponi, Kpandai, Tatale – Sanguli, Tolon , Yendi, Walewale, Yagaba – Kubore, Bunkpurugu, and Zabzugu. It additionally won the Nabdam and Talensi Constituencies within the Upper East Region.
In all, Nana Akufo-Addo and Bawumia lost the Presidential Elections to the sitting President John Dramani Mahama.
“Monetary Policy And Financial Sector Reform In Africa: Ghana’s Experience by Mahamudu Bawumia (Aug 31, 2010).
“The Determination of Bank Interest Spreads in Ghana: An Empirical Analysis of Panel Data” with Martin Ofori and Franklin Belnye, September 2005.
“Developing a Composite Indicator of Economic Activity in Ghana”, with Benjamin Amoah, Bank of Ghana Working Paper, February 2004.
“A Simple Vector Error Correction Forecasting Model for Ghana”, with Joseph Atta-Mensah, Bank of Ghana Working Paper, August 2003.
“Monetary Growth, Inflation and Exchange Rate Policy in Ghana” Research Department, Bank of Ghana, Journal of the West African Monetary Institute, 2003
“The Transmission Mechanism for Monetary Policy in Ghana”, with Philip Abradu-Otoo, Bank of Ghana Policy Paper, August 2003.
“The Determinants of Exchange Rates in Ghana”, with Zakari Mumuni. Bank of Ghana Working Paper. March 2003. “The Feasibility of Monetary Union in West Africa”. Mimeo. Economic Commission for Africa, November 2002.
“Comparative Institutional Features of Different Common Central Banks”, West African Monetary Institute. Mimeo. February 2002.
“Designing an Exchange Rate Mechanism for the West African Monetary Zone”, West African Monetary Institute. Mimeo. February 2002.
“Explaining African Economic Growth Performance: The Case of Ghana”, with Ernest Aryeetey and A. Fosu. Paper prepared for the African Economic Research Consortium. April 2001.
“Assessing the effectiveness of Intervention on the Foreign Exchange Market in Ghana”. Research Department, Bank of Ghana, February 2000.
“A Review of the Literature of the Impact of Financial Sector Liberalisation on the Poor”, with Dr. E.K.Y. Addison and Maxwell Opoku Afari, Research Department, Bank of Ghana, August 2000.
“Financial Markets in Africa. Issues and Challenges for Research,” with Professor Ernest Aryeetey, ISSER. October 2000 AERC.
“Currency Substitution and Money Demand in Ghana: A Cointegration Analysis”. Research Department, Bank of Ghana, November 2000. “Why the Apparent Rush to Market Reform”? Journal of Economics, 1999.
“The Sequencing of Fiscal Reform during Structural Adjustment. Lessons from Ghana, Uganda, and Zimbabwe”, Comparative Economic Studies, Vol. XXXVIII No.2/3 Summer-Fall 1996
“A Closer Look at The Distributional Impact of Ghana’s Structural Adjustment Program (1983–1992).
Journal of Modern African Studies. Vol.36 No.1, March 1998
“Estimating the Aggregate Values of Human Capital in Sub- Saharan Africa”, co-authored with Samuel A.Laryea. Review of Human Factor Studies. Vol. III No.1. June 1997
“Africa, the Challenge of Development”. Book Chapter in Stephen. Gardner’s Comparative Economic Systems, Dryden 1999
Scholarships and awards
2007 — Fellow of the Chartered Institute of Bankers (FCIB).
2000 — Who Is Who Among America’s Teachers? – Baylor University.
1999 — Young Researcher Award: Baylor University, Texas, USA.
1995–1999 — President’s Research Fellowship: Ph.D. Simon Fraser University.
1991–1995 — 4 Graduate Fellowships: Ph.D. Simon Fraser University, Canada
1986 Sir Alan Peacock Prize. Best Economics Student, Department of Economics, University of Buckingham
Bawumia is estimated to have a net worth is $100Million.