The Bank of Ghana Chair in Finance and Economics at the University of Ghana, Prof. Yegandi Imhotep Paul Alagidede, has called on Africans to go beyond traditional paradigms established by orthodox and other heterodox schools in addressing the continent’s economic problems.
Delivering the first keynote address on Day 2 of the African Review of Economic and Finance (AREF) Conference on November 20, 2025, he proposed that the continent adopt what he describes as the “Omnidox approach” to tackling its economic challenges.
The approach, which is a phase within the Metanomic framework, merges orthodox and heterodox economics with resource-backed monetary systems to create a balanced, harmonious, and regenerative future grounded in the principles of Ma’at and Sankofa.
He explained that this approach is well suited to Africa, considering the wealth of diverse resources available at the continent’s disposal.
“We can actually go beyond the traditional paradigms established through orthodox and other heterodox schools, and I think that the Omnidox world offers an alternative way of tapping into the inexhaustible resources that Africa already has, channeling those resources into real development here. The excess of those resources can then be used to trade with others outside our borders. This is the hope for Africa. Omnidox is the future. And the future is now.”
Prof. Yegandi further proposed four national policy actions that governments across the continent can adopt in developing an Omnidox Policy Architecture. He urged them to enact Sovereign Tokenisation Acts, build Central Bank Omnidox Units (CBOUs) and Natural Capital Treasuries (NCTs), and implement resource-backed, system-linked budgeting.
“We are arguing for national policy actions through what we call the Sovereign Tokenisation Act. The ministries of finance and the authorities in charge of national development processes must also link their budgets to the actual resource systems for budgeting purposes. We can also establish Central Bank Omnidox Units across the continent, where we tokenize, verify, and monetize resources. This approach can unlock a significant amount of capital for economic development. We also propose the establishment of Natural Capital Treasuries.”
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Story by Kwadwo Owusu Anane| univers.ug.edu.gh
Edited by Deborah Owusu and Gabriel Tecco Mensah
