Felix Ofosu Kwakye, spokesperson for President-Elect John Dramani Mahama's transitional team, has reaffirmed the incoming administration's commitment to addressing Ghana's economic challenges. Speaking at the second sitting of the joint transition team on December 13, 2024, Ofosu Kwakye outlined key economic priorities aimed at easing financial burdens on citizens.
Economic Stabilization Priorities
President-Elect Mahama emphasized plans to stabilize the economy, strengthen the cedi, and curb inflation to provide relief for Ghanaians. During a courtesy visit from the Chinese Ambassador to Ghana, Tong Defa, Mahama also highlighted his commitment to restoring Ghana’s economic growth.
He acknowledged the economic strain caused by recent debt defaults and pledged to work on restoring Ghana’s credit rating. Cooperation with China on infrastructure initiatives, including Sinohydro projects, will remain a key focus, alongside exploring benefits under the Forum on China-Africa Cooperation (FOCAC) and the Belt and Road Initiative.
Transition Team Concerns
The Mahama transition team raised alarms over:
Last-Minute Financial Decisions:
A planned payment of 240 million cedis to a company linked to the Electricity Company of Ghana.
Concerns about fiscal implications of last-minute recruitment and appointments.
Accountability Measures:
Calls for transparency in government decisions before the new administration takes office.
The establishment of a committee to investigate these issues thoroughly.
Call for Fiscal Prudence
Ofosu Kwakye stressed that major decisions on recruitment and payments should be deferred until the Mahama administration assumes office to ensure proper oversight.
“Once we take office, we will fully assess the state of affairs to guide our policy direction,” he assured.
Broader Vision
The incoming president aims to ease economic pressures through prudent financial management, ensuring a sustainable recovery that benefits all Ghanaians. The focus will be on reducing inflation, stabilizing the currency, and fostering stronger international partnerships to support infrastructure and economic growth.
Mahama's team has expressed confidence in their approach to rebuild the economy while addressing the immediate financial concerns of the Ghanaian people.
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