As Ghana prepares for its upcoming presidential election, the two main contenders have unveiled their manifestos, each promising solutions to the country’s economic woes. Voters will head to the polls on December 7 to elect a successor to President Nana Akufo-Addo, who is stepping down after serving two terms as the head of the West African nation known for its gold, oil, and cocoa production.
The election will be a showdown between ex-president John Dramani Mahama of the National Democratic Congress (NDC) and Vice President Mahamudu Bawumia from the ruling New Patriotic Party (NPP). Notably, no party has ever won more than two consecutive terms in Ghana’s democratic history.
Akufo-Addo’s presidency has been marred by economic challenges. In 2022, Ghana defaulted on most of its $30 billion external debt due to years of excessive borrowing, compounded by the COVID pandemic, the war in Ukraine, and rising global interest rates. Seeking assistance, the government turned to the International Monetary Fund and is now restructuring its debt as part of a $3 billion support package.
Mahama, 65, has pledged to eliminate first-year university fees to boost tertiary education and reduce taxes within his first three months in office. He also vowed to wage a relentless war against corruption and recover misappropriated assets. During his previous presidency (2013-2017), Mahama focused on infrastructure development but faced criticism over power shortages, economic instability, and alleged state corruption.
On the other side, NPP critics argue that graft worsened under Akufo-Addo’s administration. Bawumia, an economist and former central banker, has outlined his policy proposals, including simplifying the tax system, reducing the number of ministers by almost half, and cutting public spending by 3% of GDP. Additionally, he aims to provide digital training to one million young people to enhance their job prospects.
Both candidates hail from northern Ghana, historically an NDC stronghold where the NPP has made significant inroads in recent years. As the election approaches, analysts predict a closely contested race between Mahama and Bawumia, despite other candidates also vying for the presidency.