In his inaugural address, President John Dramani Mahama outlined four strategic pillars to reset Ghana’s economy and society, setting an ambitious agenda to restore stability and foster development.
The newly sworn-in President identified economic restoration and stabilization, improving the business and investment climate, constitutional review, and fighting corruption and enhancing accountability as the cornerstones of his administration.
Economic restoration and stabilization
President Mahama pledged to tackle Ghana’s economic challenges head-on, prioritizing macroeconomic stability to restore investor confidence and economic growth.
“The circumstances we find ourselves in are dire, but we will be decisive and swift in our actions. Our first priority is the restoration and stabilization of the macroeconomic environment,” he said.
Following the COVID-19 pandemic, a cost-of-living crisis, an ongoing bailout from the International Monetary Fund and a sovereign debt default, Ghana’s economy is again growing.
Ghana’s economy displayed a remarkable rebound in 2024, achieving a GDP growth rate of 7.3% in the third quarter, the highest in five years.
This surge followed a challenging 2023, marked by high inflation that peaked at 39.23%.
While inflation remains a concern, it has shown signs of cooling, easing from 26.4% in 2023 to 23% in third quarter of 2024.
However, food inflation continues to impact vulnerable households significantly.
The non-oil sector, a key driver of growth, averaged 6.2% growth in the first three quarters of 2024, a substantial improvement from 2.6% in the same period of 2023.
This robust performance across quarters – 4.3% in the first quarter, 6.6% in the second quarter, and 7.3% in the third quarter positioned Ghana to exceed its projected GDP growth target under the IMF-supported programme.
Improving the business and investment climate
The President emphasized making Ghana “open for business” by fostering a business-friendly environment that attracts investment.
Key reforms will target job creation and sustainable development, with a particular focus on agriculture and agribusiness.
“Our policies will ensure decent, well-paid jobs for Ghanaians, especially the youth,” he noted, underscoring the need to modernize industries and equip citizens with skills for a competitive future.
Governance and constitutional review
The administration plans to undertake significant governance reforms, including a constitutional review to strengthen democratic institutions and ensure inclusivity in decision-making.
“We need a reset in our nation. Let’s envision a Ghana we want to live in and leave behind for future generations,” President Mahama said, urging citizens to contribute to nation-building.
Accountability and the fight against corruption
President Mahama vowed to prioritize transparency and integrity in public office, declaring that his government would adopt stringent measures to combat corruption.
“Accountability will be at the heart of our governance. We must rebuild trust in public institutions,” he stated.
A covenant with Ghanaians
The President, alongside Vice-President Professor Jane Naana Opoku-Agyemang, called on Ghanaians to support the administration’s vision of inclusivity, accountability, and innovation.
“Our leadership will ensure every citizen has an opportunity to thrive,” he affirmed, adding, “What behaviors, attitudes, and mindsets can we reset to build a better Ghana?”
A new chapter for Ghana
President Mahama urged the nation to come together, describing this period as a “national reset” to rebuild trust, foster unity, and create a better future for all.
“I ask that we enter into a covenant with Ghana and envision the nation we want for ourselves and our children,” he concluded.
Meanwhile, President-elect Mahama and the Vice-President Prof. Jane Naana Opoku-Agyemang were sworn into office to lead Ghana for a four-year term.
The ceremony was graced by 19 Heads of State and five former Presidents from around the world.
The event marked the official end of the eight-year tenure of outgoing President Nana Addo Dankwa Akufo-Addo, who has been a staunch advocate of the rule of law.
It is the ninth successful democratic transition under the Fourth Republican Constitution, a feat admired in the West African region, especially in a time when democracy has been under threat elsewhere.
President Mahama, who won the December 7, 2024, elections with 6,328,397 votes (56.55%), defeated the New Patriotic Party’s (NPP) Dr. Mahamudu Bawumia, who secured 4,657,304 votes (41.61%).
The official result still awaits the final count from nine outstanding constituencies.
Taking the oath of office, President Mahama reaffirmed his commitment to serving the people with loyalty and dedication, promising to uphold the nation’s sovereignty, protect the constitution, and implement policies aimed at the betterment of all Ghanaians.
Vice-President Opoku-Agyemang also took her oath, pledging to uphold the laws of Ghana and protect the nation’s constitution.
Thousands of Ghanaians gathered at Black Stars Square in Accra on Tuesday to witness the historic swearing-in of President-elect John Dramani Mahama and Vice-President Professor Jane Opoku-Agyemang.
The event was a vibrant display of Ghanaian culture and tradition.
It saw a mix of former African leaders, top diplomats, and government officials, as well as enthusiastic supporters waving flags.
Cultural performances, including drumming by the Ghana Dance Ensemble, highlighted the nation’s rich heritage.
Attendees wore elegant Kente Cloth, with a mix of National Democratic Congress (NDC) colours and white apparel, reflecting unity and celebration.
A historic return for Mahama
President Mahama’s victory solidifies his position as one of Ghana’s most enduring political figures.
Starting as Vice-President under the late John Evans Atta Mills, he became President in 2012 following Mills’ death and went on to win the subsequent election.
After losing his reelection bid in 2016 and another attempt in 2020, President Mahama’s 2024 victory is a testament to his resilience in Ghanaian politics.
Democratic milestone for Ghana
This is the fourth time an incumbent government hands over power to the opposition, underscoring Ghana’s strong democratic tradition.
No political party in Ghana has won more than two consecutive terms in power, a trend that continues with Mahama’s return.
His leadership will mark another chapter in the alternating power dynamic between the NDC and the NPP, the two dominant political parties in Ghana.
