Mahama Plans Launch Of Ghanas 24-hour Economy

In December, John Mahama was elected president of Ghana with 57 of the vote, a decisive victory for his National Democratic Congress. For Mahama, the victory represents a return to the highest office following his previous stint as president from 2012 to 2017.

Mahamas reelection indicates a desire to emerge from the economic turmoil that followed the countrys 2022 debt default, which was triggered by years of runaway expenditure. The default led to extended negotiations with international lenders over a 13bn debt restructuring, culminating in a 3bn IMF bailout. The fallout has hit the population hard, with poverty climbing to 30, according to the World Bank, and consumer inflation hitting 23.8 year on year in December.

In a speech at his 7 January inauguration, Mahama cast his victory as a demand to improve citizens living standards.

They Ghanaian citizens have openly voiced their dissatisfaction through the decisive action they undertook at the recent pollsOur people also understand that democracy is not just a token adorned with periodic elections followed by pomp and pageantry when a new government is established. They expect that if democracy is celebrated as a superior means of governance, its outcomes must be more tangible and benefit their individual lives, said Mahama.

In the speech Mahama vowed to initiate governance reforms and restore confidence in leadership. Jervin Naidoo, political analyst at Oxford Economics Africa, said that accountability would be a key goal of the administration.