Ghana’s newly re-elected President, John Dramani Mahama, began his second term on Tuesday by addressing the shifting global political and economic landscape, stressing the country’s need to adapt to new international realities. In his inaugural address at Accra’s Independence Square, Mahama outlined the growing challenges posed by global tensions and shifting alliances.
Mahama emphasized that Ghana’s current geopolitical environment is far removed from the one experienced under previous administrations. He noted that new tensions and conflicts between nations are creating significant uncertainty, particularly in the way international alliances function. “The world in which Ghana exists today is not the same world in which we have lived under in other presidencies,” Mahama stated.
One of the key focal points of Mahama’s address was the increasing influence of the BRICS bloc—Brazil, Russia, India, China, South Africa, and other emerging economies. Since its formation in 2009, BRICS has become a major force, now representing 40% of the global population and 35% of global GDP. In 2023, the bloc controlled 33.7% of global GDP wealth, underscoring its growing power on the world stage.
Mahama questioned the implications of BRICS’ rise for Ghana and its economic future. “What role does Ghana play in this shifting global order?” he asked, pointing out that the nation must navigate these global changes to secure long-term, sustainable growth. He also stressed the importance of aligning Ghana’s economic policies with global trends to tap into opportunities presented by emerging markets like BRICS.
Under Mahama’s leadership, Ghana has seen steady economic growth. In 2023, the country’s economy, valued at $76.37 billion, recorded a 3.8% growth rate in the fourth quarter, driven largely by the oil and gas sectors. Non-oil growth reached 3.4%. Mahama emphasized the need for continued economic diversification and integration into the global economy to ensure Ghana remains competitive in the years ahead.
The president, who won the December election with 56.7% of the vote, was sworn in alongside Jane Naana Opoku-Agyemang, Ghana’s first female vice president. The ceremony was attended by over 20 African leaders, including Nigerian President Bola Tinubu and the head of the Economic Community of West African States (ECOWAS). Outgoing President Nana Akufo-Addo, in his farewell address, urged vigilance amid growing regional instability, highlighting the importance of strengthening security and regional cooperation in the face of increasing challenges.
As Ghana embarks on a new political chapter, Mahama’s administration will face the complex task of navigating an increasingly multipolar world and ensuring that the country capitalizes on the shifting dynamics of global alliances and economic power.