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The Vice President, Dr Mahamudu Bawumia, was on Tuesday, recognised for his immense contribution and commitment to excellence in the banking sector that transcends across the African Continent.

The Chartered Institute of Bankers, Ghana, presented the Award to him, during its 22nd Annual National Banking Conference in Accra.

Vice President Bawumia was awarded the Followership of the Chartered Institute of Bankers (CIB), Ghana in 2007, and made outstanding contributions both within and outside the banking industry.

In a citation, the Institute said the Vice President has distinguished himself through outstanding contributions both within and outside the banking industry.

“Vice President Bawumia has brought honour to the profession by assuming the high office as Vice President of the Republic of Ghana, and this significant pinnacle was not achieved on a silver platter, but through hard work and determination,” it said.

Dr Bawumia joined the Bank of Ghana in the year 2000 as an Economist and rose through the ranks to a Senior Economist then to the Deputy Governor in 2006.

He served as a Consultant to the Economic Commission of Africa and also as an Advisor to the Central Bank of Sierra Leone on re-designing of the organizational structure and monetary policy framework of that country.

In January 2010, Dr Bawumia was appointed as the President Representative of the African Development Bank (AfDB) for Zimbabwe.
The Vice President has distinguished himself in the field of academia and worked as a Lecturer in Monetary Economics and International Finance at the Emile Woolf College of Accountancy in London, England.

He also served as an Economist at the Research Department of the International Monetary Fund (IMF) in Washington, DC, USA.

Dr Bawumia obtained a Master's Degree in Economics at Lincoln College, Oxford, and obtained a Ph.D. in Economics at the Simon Fraser University, Vancouver, British Columbia, Canada in 1995.

Vice President Bawumia’s areas of specialization include Macroeconomics, International Economics, Development Economics and Monetary Policy. He has numerous publications.

Vice President Bawumia also headed the Monetary Policy and Financial Stability Department of the Bank of Ghana and was part of the team that designed and implemented inflation targeting framework that guided the monetary policy.

He was also part of the team that designed and implemented the e-switch common payment platform, Savings and Loans Companies and Rural Banks offering interoperability across different financial institutions.

The Vice President currently heads the Economic Management Team of Government.