Ghana’s presidential and parliamentary elections kicked off on Saturday, marking a pivotal moment for the country as it battles the aftermath of its worst financial crisis in decades. With polling stations opening at 0700 GMT and closing at 1700 GMT, voters are casting ballots to choose a new leader following the two-term presidency of Nana Akufo-Addo. Full presidential results are expected by Tuesday, though early trends may offer an early indication of the winner.
Twelve candidates are competing to replace Akufo-Addo, but the race has largely narrowed to a contest between Vice President Mahamudu Bawumia of the ruling New Patriotic Party (NPP) and former President John Dramani Mahama, who served from 2012 to 2016 and represents the opposition National Democratic Congress (NDC). Opinion polls have suggested that Mahama could make a comeback after Ghana’s economic struggles under Akufo-Addo’s leadership, which saw a significant debt default and an IMF bailout last year.
Bawumia, 61, a former central banker, has championed the government’s gradual recovery, citing a 6.9% economic growth rate in the second quarter of 2024 as evidence of progress. He has promised further reforms, including simplifying the tax system, cutting public spending, and reducing the number of ministers if elected. Bawumia expressed confidence in the incumbent government’s efforts, saying at a rally, “We will win this election because of the good work we’ve done.”
In contrast, Mahama, 66, has sharply criticized Bawumia’s policies, blaming them for the nation’s economic woes. He has vowed to renegotiate the terms of the $3 billion IMF bailout, which was secured in 2023 to help stabilize Ghana’s economy after a debt crisis peaked in 2022. “I will fight corruption to restore integrity and fairness,” Mahama declared in his final campaign speech in Accra’s Madina neighborhood.
While the Ghanaian cedi has shown signs of strengthening, inflation and government debt remain significant concerns for both candidates as they campaign on economic recovery. As Oxford Economics highlighted, this election is not just crucial for Ghana, but also for West Africa, where the state of democracy is under increasing scrutiny.
With the future direction of the country at stake, all eyes are on the outcome of this election, which could shape Ghana’s path toward recovery or signal a return to a leadership that promises a different approach to economic management.