Ghanaians are set to vote on Saturday to elect their next president, as the country grapples with its worst economic crisis in decades. With incumbent President Nana Akufo-Addo reaching his two-term limit, twelve candidates are vying for the presidency, though the race is largely seen as a contest between two prominent figures from the country's major political parties: the ruling New Patriotic Party (NPP) and the opposition National Democratic Congress (NDC).
Opinion polls indicate a close race between Vice President Mahamudu Bawumia, 61, of the NPP and former President John Mahama, 66, of the NDC, who is seeking a political comeback. Mahama's bid mirrors that of US President-elect Donald Trump's, aiming for a return to office after a term in power.
Economic concerns are top of mind for voters. Economist Godfred Bokpin from the University of Ghana notes that, "the economy is a priority for the electorate," but other issues such as high unemployment and illegal gold mining, locally known as “galamsey,” are also significant factors. Kwame Asah-Asante, a political science lecturer at the University of Ghana, adds that these issues will play a crucial role in shaping voter decisions.
Rising Poverty and Economic Struggles
Environmental damage from unlicensed small-scale mining has sparked public outrage, with illegal mining sites continuing to proliferate despite government efforts to curb the practice. High inflation, youth unemployment, and soaring living costs, partly driven by global gold price surges, are also fueling public dissatisfaction. As of September, over 1.3 million young people aged 15-35 were unemployed, exacerbating the country’s economic woes.
The World Bank reports that the COVID-19 pandemic worsened poverty levels in Ghana, with weak economic growth, limited government spending, and high inflation—particularly in food prices—further diminishing living standards. In December 2022, the country's inflation rate peaked at 54.1%, triggering widespread protests over alleged economic mismanagement.
Supporters hold a placard depicting the portrait of Mahamudu Bawumia, in Takoradi, on August 18, 2024.
Bawumia, a UK-trained economist, has led the government's economic policies, but has faced criticism for the country's economic downturn. He has defended his role, claiming that his position is advisory, with no decision-making power. His political rival, Mahama, has pointed to Bawumia’s silence on the economy as an indication of his failure to address the crisis.
Bawumia’s spokesperson acknowledged the economic difficulties, noting that inflation had been reduced from 54% to 21%, but admitted the challenges posed by volatile exchange rates.
Campaigns and Promises
Both candidates have promised solutions to Ghana's economic struggles. Bawumia’s manifesto highlights stabilizing food prices, digitalizing the economy, and enforcing safer mining practices. He also touts the success of reducing power shortages, which plagued Mahama's first presidency between 2012 and 2017.
On the other hand, Mahama has vowed to "reset" the country’s governance, promising to reduce taxes, cut unemployment, and combat illegal mining. He has also promised to introduce a 24-hour economy and improve accountability if re-elected.
More than half of Ghana's 34 million people are registered to vote in this year’s election. Many are hoping for change, with Asah-Asante expressing optimism that the election will be peaceful and that the democratic process will be respected, regardless of the outcome.
Election Details
The presidential election will be held alongside parliamentary elections. A candidate must secure more than 50% of the vote to win outright. If no candidate achieves this, a run-off election will be held between the two leading candidates.
With tensions high over the economic challenges facing the country, analysts expect a closely contested election. However, there is widespread confidence that Ghana’s strong democratic traditions will ensure a peaceful transfer of power.
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Politics