NPA CEO Says NPP Members Privately Praise Mahama Governance However, partisan divide remains evident in approval figures. Ninety three percent of NDC supporters approve of presidential performance compared to only 28 percent of NPP voters. Among floating voters, Mahama maintains a 69 percent approval rating, suggesting broader satisfaction beyond partisan bases.
Ghana’s economy showed signs of recovery in 2025 following years of fiscal stress requiring International Monetary Fund (IMF) intervention and comprehensive debt restructuring. Inflation declined from 23.8 percent to 6.3 percent over 11 consecutive months through December 2025, while the cedi appreciated more than 35 percent against the US dollar, marking the first sustained appreciation since 2007.
Foreign reserves reached approximately USD 12 billion in 2025, up from USD 9 billion in 2016, according to Bank of Ghana figures. Government settled a USD 709 million Eurobond obligation December 30, 2025, described by the Finance Ministry as a major milestone in Ghana’s economic recovery and debt management strategy.
Policy analysts including IMANI Africa Vice President Kofi Bentil have cautioned that while recent economic improvements are positive, they remain limited and therapeutic primarily because of political transition effects. Bentil noted that although the Domestic Gold Purchase Programme operated by Ghana Gold Board has achieved results, its impact on the cedi has been modest at less than 10 percent.
Highlighting Ghana’s dependence on gold exports, Bentil stated that because Ghana’s exports are so dominated by gold, and exports are an important factor in exchange rate movements, observers must bear in mind that gold prices rose over 70 percent in 2025 alone. He emphasized the real challenge is what happens in the next three years as initial political transition effects fade.
Private legal practitioner Martin Kpebu told economic managers not to celebrate yet regarding recovery progress, emphasizing that sustainability is key rather than short term improvements. No time for celebration. It’s the sustainability that is key. If we can do this for one year, two years, three years, that is when we can say we are on track, Kpebu stated.
Whether positive economic indicators in 2025 represent genuine transformation or temporary relief driven by favorable external circumstances including record high gold prices and global dollar weakness remains subject to ongoing debate among analysts and political observers. Sustaining improvements will require addressing structural challenges including limited export diversification, persistent fiscal deficits, and high debt servicing costs.
Tameklo’s assertion that NPP members privately acknowledge satisfaction with current governance reflects broader political dynamics as the Mahama administration enters its second year. Whether such private acknowledgments translate into public political realignment or remain confined to informal conversations will influence opposition strategy and national political discourse throughout 2026.
The NPA chief stated that with unity of purpose, 2026 presents renewed opportunities to deepen efficiency across Ghana’s petroleum distribution chain while advancing reforms that improve service delivery to consumers and stakeholders. His message comes as the Authority prepares to build on momentum established during his first year leading the regulatory body.