For Many Ghanaians, President John Mahama Is off to a Great Start

President Mahama's win in the 2024 elections was a historic demonstration of voting power and an expression of widespread discontent towards the previous administration. In his campaign, Mahama’s promises centred on policies around revitalising the Ghanaian economy and trimming the government.

Upon resumption, Mahama developed a social contract — a list of policies and developments expected to have been completed or implemented within his first 120 days in office. The contract, in 26 key points, promised amongst many things, to promote exports, implement the famous 24-hour economy proposition that was at the forefront of his campaign, scrap infamous taxes like the e-levy and COVID-19 levy, known to increase cost of doing business in Ghana, create a lean and cost efficient government and launch the Black Star Experience a culture, arts and tourism outfit reminiscent to the Year Of Return campaign launched by the previous administration.

"Most of the key economic indicators are moving in the right direction," Caleb Wuninti Ziblim, an economic analyst, tells OkayAfrica. "We have seen some stability in the exchange rate, ease of inflation, and signs of growth. That is a strong footing."

Different time, same playbook?

On the ground, opinions about Mahama's current administration are treated with a level of caution. During his first tenure, he was criticised for failing to deliver on many of his campaign promises. Critics say high levels of economic challenges, unbearable inflation, and infrastructural issues marked his previous administration. Others say he is rectifying that reputation.

So far, Mahama has removed the E-levy tax as promised and launched investigations into former government officials accused of misconduct. "Hopefully it doesn't end at just uncovering it, but uncovering and jail time for culprits," Nana Kojo Mula, a writer and publicist who describes the first six months of Mahama's administration as a breath of fresh air, tells OkayAfrica.

While many of his policy changes are yet to translate into a lower cost of living, some issues have seen improvement. "The drop in fuel prices has had a great impact on my monthly expenses," Antoinette Boama, a legal practitioner, tells OkayAfrica. "I used to spend between 800 and 1200 Cedis weekly on fuel, but in the last month and a half, I spent between 500 and 700 weekly. Not ideal, but at least we know that if our leaders want things to work, they will work."

Experts say Mahama's winning strategy lies in his proactive and receptive approach to governance.

"For instance, despite introducing an ESLA levy increase, which went against what the 2024 budget initially indicated, the government quickly suspended it after the Israel–Iran conflict began, citing the need to shield Ghanaians from further hardship. That kind of responsiveness is rare and commendable," Ziblim, the economic analyst, says.

This responsiveness is also evident in the constitutional reforms and policies that dragged on during the previous administration. "This administration appears serious about pushing through some long overdue amendments. The speed with which they have revived the process is promising," says Ziblim.

A long way to go

With three and a half years to go, Mahama still has time to prove the strength of his current style of governance while fulfilling his promises. For many Ghanaians, the primary pain points revolve around stabilizing the economy, reducing the cost of living, and ensuring that policies have a trickle-down effect on utilities and everyday commodities.

Media personality Emmanuel Kwame Sarpong hopes that the current administration will focus on addressing galamsey, an illegal mining issue that is destroying precious water bodies and causing health problems. "While campaigning, he promised us a complete revocation of LI 2462 (the environmental protection regulation), which allowed mining of any kind in forest reserves. Unfortunately, it has been a slow and shaky approach, especially with the latest development in parliament, where the aforementioned regulation has only been amended," Sarpong tells OkayAfrica.

Ghana also has a vibrant creative community that Sarpong hopes will see infrastructural support from this administration. According to him, this support would help bridge earning gaps and ensure Ghanaians have improved access to global earning tools. There is also the matter of reducing the cost of data and internet access, a costly commodity in the country. "The Communications Minister has hinted at works underway to reduce the high cost of internet despite MTN's near-monopoly. We are looking forward to seeing the manifestation of the real plans to regulate pricing or promote competition," he says.

Additionally, economists like Ziblim believe that the Ghanaian industrial sector needs a complete overhaul. Ziblim notes that the previous administration's One District, One Factory initiative was poorly designed and didn't yield desired results. "Much of the current economic momentum is driven by high gold prices, but we are still exporting raw gold. If we refined and processed it locally, we would retain more value, create jobs, and stabilise forex inflows," he says.

With so much at stake for Mahama, not merely because this is his second try at presidency but also his legacy tenure, which will define the rest of his political reputation, the energy on the ground is one of cautious hope. One that is being sustained by the current administration's responsive approach to the needs of the Ghanaian people. As Sarpong puts it, "It feels like the country we once loved again."