Ghana’s newly elected president, John Mahama, will assume office on January 7, 2024, at a time when the country is grappling with its worst economic crisis in decades. As Ghana faces mounting poverty, instability in key industries, and a surge in unemployment, over 60% of the population has expressed a desire to emigrate, according to a recent survey by Afrobarometer Ghana.
Mahama, who served as president from 2012 to 2017, emerged victorious in the December 2023 election after failed bids for re-election in 2016 and 2020. Despite celebrations from his party and supporters, Mahama faces an uphill battle as he inherits a nation in economic turmoil. Ghana, once one of the world’s leading producers of cocoa and gold, is now struggling to maintain its position in these sectors. The recent downturn in both industries has contributed significantly to the country’s current economic woes.
Upon his election, Mahama vowed to dedicate himself fully to improving the living standards of Ghanaians. He criticized the “heavy tax burdens” associated with the country’s current agreement with the International Monetary Fund (IMF), which he argues have made doing business in Ghana increasingly difficult. He promised to launch a review of government spending, including reducing waste in the presidency’s office, emphasizing that the government must lead by example. “If the president is asking us to tighten our belts, he must also tighten his,” Mahama stated.
The energy sector is another major area of concern. Ghana has long suffered from power outages and energy shortages, which continue to disrupt daily life. Mahama has acknowledged that the Electricity Company of Ghana is in a critical state and has pledged to take immediate steps to reform the sector. “We need to fix the electricity sector quickly,” Mahama said, underscoring the importance of sustainable solutions to end the frequent power cuts that have plagued the country.
However, the challenges facing Mahama go beyond economic reform. A growing number of Ghanaians, particularly young people and the unemployed, are seeking opportunities abroad. The desire to emigrate has increased dramatically in recent years, with the country’s first-ever debt default and ongoing debt restructuring adding to the sense of uncertainty. David Kofi Asante-Darko, an analyst with Afrobarometer Ghana, pointed out that many young, highly educated Ghanaians are now looking to North America and Europe for a better future.
According to Asante-Darko, while Mahama’s leadership may bring some relief, addressing the root causes of the economic crisis will require more than just a change in leadership. Corruption, poor governance, and systemic issues like nepotism are seen as major impediments to the country’s growth. “A change of government is not enough,” he said, calling for a complete overhaul of the nation’s democratic structure.
This sentiment is echoed by the low voter turnout in the 2024 elections, with only 60% of eligible voters participating—down from 80% in 2020. This decline in civic engagement reflects growing disillusionment with the political system and a lack of trust in the government’s ability to address the country’s problems.
As part of his electoral campaign, Mahama made fighting corruption a central theme. He pledged to tackle the endemic corruption that has plagued Ghana’s public sector, particularly in procurement processes. To that end, Mahama recently appointed a five-member anti-corruption task force, tasked with recovering misappropriated state funds and ensuring accountability. The group, which includes former Auditor General Daniel Domelevo and investigative journalist Raymond Archer, is expected to play a pivotal role in restoring public trust.
This initiative has been widely welcomed by civil society groups, who have long criticized the outgoing administration’s handling of corruption scandals, such as the controversial $190 million Power Distribution Services deal. Although Mahama’s previous presidency was also marred by allegations of corruption, no formal charges were ever brought against him. His new administration will now be under close scrutiny to ensure that the fight against corruption is not only a campaign promise but a key focus of his presidency.