Ghana Heads to Polls Amid Economic Recovery Hopes

 Ghana held its presidential and parliamentary elections on Saturday, with citizens eager for a leader to steer the nation toward economic recovery after experiencing its worst financial crisis in decades. The crisis, marked by a major debt default, has cast a long shadow over this election in the cocoa and gold-producing West African nation.

Key Contenders

Outgoing President Nana Akufo-Addo, completing his constitutionally mandated two terms, leaves the field open for a fierce contest. The race is primarily between Vice President Mahamudu Bawumia, representing the ruling New Patriotic Party (NPP), and former President John Dramani Mahama of the opposition National Democratic Congress (NDC). While 12 candidates are vying for the presidency, opinion polls suggest Mahama, who previously served as president from 2012 to 2016, has strong momentum for a political comeback.

Economic Recovery Takes Center Stage

Mahama, 66, has criticized the current administration's economic policies, framing Bawumia as a continuation of the government that oversaw Ghana’s financial turmoil. He has vowed to renegotiate the terms of a $3 billion IMF bailout, secured last year to address the country's debt crisis, and pledged to tackle corruption to restore "integrity and fairness" in governance.

In contrast, Bawumia, a 61-year-old former central banker, has highlighted signs of economic recovery. He pointed to a year-on-year growth rate of 6.9% in the second quarter of 2024—the highest in five years—and promised reforms, including simplifying the tax system, reducing government ministers by half, and cutting public spending by 3% of GDP. “The reason why we are going to win this election is because of the good work that we've done as a government,” Bawumia told supporters at a rally at the University of Ghana campus on Thursday.

Voter Sentiments and Turnout

Polling stations opened at 7:00 AM GMT and were expected to close at 5:00 PM GMT, with provisional legislative results anticipated by Sunday. The presidential result is likely to be announced by Tuesday, though early trends may provide an indication sooner. In Accra's Jamestown neighborhood, voters expressed their desire for change. Comfort Saaquah Aidoo, a 68-year-old small trader, arrived at her polling station at 4:30 AM GMT to cast her vote. “I want a new government. The old one can’t do the work properly; they promised and failed,” she said. Similarly, Joyce Adjadji, a teacher in Afienya, lamented the harsh cost of living. “We can’t cope,” she said after voting.

Economic Challenges Persist

While the Ghanaian cedi has shown signs of strengthening, challenges such as high inflation and concerns over government debt sustainability persist. Approximately 18.7 million registered voters out of Ghana’s 34 million population are participating in this critical election, which will shape the nation’s trajectory in addressing its economic and social challenges. The stakes are high as Ghana looks to its next leader to navigate the aftermath of a debt crisis, restore investor confidence, and meet the aspirations of its citizens for stability and prosperity.