Ghana’s Economic Shift: Mahama’s ‘Reset Agenda’ Gains Traction Amid Growth and Governance Debates

The Centre for Democratic Development (CDD-Ghana) has released a significant first-year assessment of President John Dramani Mahama’s administration, commending the 'Reset Agenda' for achieving notable macroeconomic stability. According to the report, the government has successfully steered the economy toward lower inflation and reduced prices for essential goods like fuel and food. This assessment aligns with announcements from the Minister for Labour, Jobs, and Employment, Rashid Pelpuo, who revealed that Ghana has climbed from the 10th to the 8th richest country in Africa. With the national GDP now exceeding GH100 billion, the administration attributes this progress to prudent economic management and a firm commitment to job creation.

Despite these economic milestones, the flagship '24-hour economy' initiative has sparked intense debate regarding its implementation. Kojo Oppong Nkrumah, Member of Parliament for Ofoase-Ayirebi, argued that the policy’s success depends on 'effective consumer demand' rather than mere regulatory enforcement. He cautioned that businesses might struggle to maintain overnight operations without a corresponding increase in market activity, citing past industrial failures. Conversely, Minority Leader Alexander Afenyo-Markin criticized the government for what he termed 'slogan-driven governance,' alleging that such initiatives distract from the rising cost of living and unfulfilled campaign promises regarding youth employment.

On the governance front, Majority Leader Mahama Ayariga has reassured the public that the administration will strictly adhere to its pledge of appointing no more than 60 ministers. This commitment aims to address long-standing concerns regarding the size of government and the need to reduce public expenditure. However, the administration faces pressure regarding accountability; the Ghana Federation of Labour has urged the Attorney-General to secure the return of former Finance Minister Ken Ofori-Atta from the United States to face investigations into alleged economic mismanagement and procurement irregularities related to the National Cathedral project.

Parallel to these political developments, the government is intensifying efforts to protect local industries and revenue. Minister of Finance Dr. Cassiel Ato Forson recently implemented an immediate ban on the land transit of cooking oil following the interception of 18 trucks suspected of diverting goods to evade taxes. Additionally, the business environment has been clouded by a $2.6 million gold supply dispute involving JG Resources Limited. Director Papa Yaw Owusu-Ankomah has alleged a smear campaign and political pressure from a Council of State member, Gabriel Tanko Kwamigah Atokple. As the 'Reset Agenda' enters its next phase, CDD-Ghana concludes that while the framework is credible, the administration must address persisting gaps in transparency, environmental management, and selective justice to ensure balanced national development.