Former Ghanaian President and current opposition leader John Dramani Mahama has outlined his economic vision for the country as he campaigns for the upcoming December 2024 election.
Mahama, who is the flagbearer for the National Democratic Congress (NDC), is positioning himself as the candidate to stabilize Ghana’s economy and implement far-reaching reforms.
In a recent statement, Mahama declared, “Sound and prudent economic management, founded on broad and far-reaching governance and economic reforms, will take root in Ghana under my leadership.” This pledge comes at a time when many Ghanaians are concerned about the country’s economic stability.
Mahama, who previously led Ghana from 2013 to 2017, emphasized that his top priority would be to “stabilise the economy and halt the deterioration in the Cedi’s value against other currencies.” The value of the Ghanaian Cedi has been a point of concern for citizens and economists alike in recent years.
Mahama’s promises come against the backdrop of significant economic challenges facing Ghana. The Ghana Cedi has been struggling against major currencies, with the exchange rate reaching 15.12 Cedi to one US dollar, despite ambitious promises made by the ruling New Patriotic Party (NPP). This ongoing currency depreciation has put pressure on the cost of living and business operations in the country.
The NDC flagbearer also promised to focus on sustainable growth, stating that “Economic policy will be geared towards sustainable growth, with an equitable distribution of the proceeds of that growth.” This commitment to equitable distribution suggests an attempt to address income inequality, a growing issue in many developing economies.
Mahama’s political journey includes serving as Vice President from 2009 to July 2012, before assuming the presidency following the death of President Evans Fiifi Atta Mills. He won the 2012 election but was ousted in 2016.
As Ghana approaches the December 2024 election, Mahama’s economic promises are likely to be a key part of the national debate. Voters will have to weigh his past performance and current promises against those of his opponents as they decide the country’s economic future.
The effectiveness of these proposed reforms and their potential impact on Ghana’s economy remain to be seen, but they have certainly set the tone for Mahama’s campaign in the lead-up to this crucial election.
