Intro:
On the 7th December, Ghana will have presidential elections as current President Nana Akufo-Addo steps down after finishing his 2nd term. These elections are crucial as the country suffers mounting pressures of debt repayment, economic hardship, and regional instability, which will be discussed in further detail down below. The country will also simultaneously have parliamentary elections, in which voters in 275 (one independent so 276) constituencies across the country will be choosing their MP.
Current Affairs:
At the time of writing, Ghana is facing a severe economic crisis, mainly due to its external debt and depreciating currency. The cedi, which is the currency used in Ghana, deprecated a lot compared against major foreign currencies, resulting in an increase in the cost of imports, which has had a knock-on effect on consumer prices. Essential goods such as food and fuel have increased in price, reducing the purchasing power of families and the private sector. Higher operational costs may eventually lead to companies relocating in a more low-cost environment, due to their competitive nature.
One way the government addressed this issue was a bailout with the International Monetary Fund (IMF). The Ghanaian government was given $3 billion, and it was also given instructions to help manage debt repayments, by enforcing expenditure reduction and potentially increasing tax. However, this has caused public dissatisfaction due to the reduced number of jobs in the public sector. Given Ghana’s rich natural resources, it seems that they may be stuck in the primary sector for a long time
Main Candidates:
The main candidates of these elections are as follows,
- Mahamudu Bawumia - The 61-year-old Oxford graduate and former central bank deputy represents the ruling NPP and is a Muslim from the historically disadvantaged north of the country. He is currently vice president of Ghana. He was also Former Deputy Governor of the Central Bank of Ghana. He is in the New Patriotic Party (NPP), which is currently in power.
- John Dramani Mahama – The Ghanian politician who is 66 years old and is in the National Democratic Congress party, or NDC for short. He was the President of Ghana between 2012 and 2017, due to the death of his predecessor, John Evans Fiifi Attah Mills, who was President between 2009 and 2012. John Mahama also has various other roles in government, such as in the national communications authority and vice president between 2009 and 2012.
Just to clarify, Presidential terms are for four years, and no candidate may serve more than two terms. However, if Mahamudu Bawumia wins the election, he will be Ghana’s first Muslim President, and it will also be the first time the NPP will have a 3rd term, which is allowed.
Various Polls:
There are 12 candidates in these presidential elections, however it is mainly a battle between the two men mentioned above and given their age and experience in different sectors of government, it will be a close one. There are no official elections polls for these candidates, however there are a few key bits of information that will give a unique perspective of what’s going on in Ghana, and how people generally feel. The data below was all recorded in 2024.
- 77% of Ghanaians say the level of corruption in the country increased during the previous year.
- 87% of citizens think Ghana is heading “in the wrong direction.”
- 74% of Ghanaians disapprove of the country’s new electronic transaction levy (e-levy). The E-Levy is a Levy on all electronic transfers of money apart from those excluded by law. What is the rate of the E-Levy? The rate is 1.5%.
A local research company, Global InfoAnalytics says that Mahama is projected to get 52.2% of the vote, followed by Bawumia, with 41.4%, however that was published via apnews, so whether that is confirmed is not clear, due to the public not having access to that information, only certain organisations.
Wider context:
Ghana hasn’t had a severe conflict in decades but has recently dealt with clashes in towns like Bawku in the North. Since Ghana is near the Sahel region, the conflicts there can have major consequences, affecting neighbouring countries, and as Burkina Faso is part of the Sahel region and borders Ghana, things could escalate further in the North of Ghana, but hasn’t in the past decades. Ghana has a relatively neutral stance and doesn’t get involved in neighbour conflicts. When it comes to trade, the exports and imports partners are in varying countries, such as the UK, India, China, Netherlands, etc.
Ghana is small yet powerful country when it comes to production. The GDP is around $77 billion and compared to countries like Mali and Burkina Faso with a GDP of around $20 billion, that’s significant. It’s mainly due to Gahan’s oil industry and if it develops and corruption and other issues are dealt with, Ghana can be a significant secondary player when it comes to energy/oil security for Europe and Africa.