Fatshimetrie is a publication that is your guide to the latest economic and political news from Ghana. Amid persistent economic challenges, the country continues to struggle with high debt and a weakened local currency. Inflation hit 23% in November, rising for the third consecutive month, highlighting the challenges facing the Ghanaian economy.
This precarious economic situation has sparked growing discontent among the youth, prompting them to participate in the electoral process for the first time. With a population of 31 million, 35% of whom are under the age of 14 and 38% are youth aged 15 to 35, these new voters are expressing their urgent desire to see meaningful change in the country’s economic management.
Citizens like David Tapi, a student, are vocal about their concerns: “We need someone who can tackle the very foundations of our economy. Unemployment, inflation, the devaluation of our cedi. That’s the kind of person we need as a leader, and that’s what motivated my decision to vote this Saturday.”
This sentiment is echoed by many other voters, including Anti, a trader in Accra, who says: “I want to vote to bring down the current government because it has not been kind to the youth.”
Political parties are mobilizing to offer concrete economic solutions to capture the youth vote, recognizing that these voters are key to winning elections. With 18.7 million registered voters, both major political parties understand the importance of addressing youth concerns, particularly rising unemployment.
In this tense election, Ghana’s Vice President Mahamudu Bawumia, the candidate of the ruling New Patriotic Party, is facing off against former President John Mahama, leader of the opposition National Democratic Congress. At their final campaign rallies on Thursday, both candidates presented their parties as the solution to the country’s economic woes.
Bawumia, a former deputy governor of the central bank, has promised to continue the efforts of the outgoing administration and stabilize the economy. “I know what I want to do from the first day of the presidency,” Bawumia, 61, told cheering supporters in Accra.
For his part, Mahama reaffirmed his promise to “reset” the country on various fronts. “We need to reset our democracy, our governance, our economy, our finance, our agriculture, our infrastructure, our environment, our health sector, and everything that we cherish as a people,” the 65-year-old former president said.
In addition to economic hardship, illegal gold mining, known locally as galamsey, is a major source of concern in Ghana, sparking protests in recent weeks. Although Ghana is Africa’s largest gold producer, illegal mining, which pollutes rivers and the environment, has increased as people desperately seek a better life.
A total of 12 candidates are vying for the presidency of Ghana, but elections have always been a two-way race – and this time is no exception.
Ghana’s current president, Nana Akufo-Addo, was elected in 2016, amid widespread discontent with the ruling National Democratic Congress party. Months of severe power shortages and massive corruption scandals led to widespread discontent with then-President John Dramani Mahama.
Mahama is now fighting his way back to power, and victory seems possible.
However, whoever wins, addressing the country’s economic challenges remains a daunting one. The issue of high debt, rising inflation and other economic problems can only be addressed with strong leadership and effective economic policies. The upcoming elections in Ghana thus highlight the vital importance of prudent economic management and a policy that focuses on the well-being of citizens.