Ghana’s former president, John Dramani Mahama, is vying for re-election in the upcoming 2024 elections, presenting a bold vision for economic transformation. As the National Democratic Congress (NDC) presidential candidate, Mahama has outlined a series of ambitious policies aimed at revitalizing Ghana’s economy despite skepticism from opponents.
Vision for a 24-Hour Economy
Central to Mahama’s agenda is the implementation of a 24-hour economy, an innovative model where key sectors, including businesses, factories, government services, restaurants, shops, healthcare, and banking, operate round-the-clock. This approach seeks to extend productivity into the night, offering increased opportunities for both businesses and consumers.
Mahama has argued that while digitization is important, as championed by his main competitor, it alone cannot sustain a 24-hour economy. He contends that many services and industries require broader systemic adjustments to function effectively on a 24-hour basis. Currently, only a few sectors, such as hotels, transportation, some media outlets, and restaurants, operate continuously. If re-elected, Mahama plans to expand this framework to include private companies, manufacturing, and other industries.
Potential Benefits of a 24-Hour Economy
The proposed 24-hour economy is expected to drive numerous benefits, including:
- Increased Employment: Creating more job opportunities for Ghanaian youth.
- Enhanced Business Competitiveness: Boosting opportunities for businesses and entrepreneurs.
- Economic Growth: Increasing consumer spending and fostering tourism.
- Improved Productivity: Maximizing output across sectors.
- Economies of Scale: Enabling manufacturers to reduce costs and expand production.
To implement this model effectively, Mahama plans to introduce a three-shift system, each lasting eight hours, to maximize efficiency and productivity. He envisions Ghana transitioning into an import-substitution and export-led economy, with increased public service accessibility and the creation of well-paying jobs for the unemployed.
Drawing inspiration from countries such as the USA, Canada, the UK, and Singapore, Mahama asserts that the 24-hour economy is achievable in Ghana with proper planning and execution.
Broader Economic Reforms
In addition to the 24-hour economy, Mahama has pledged to address other pressing economic issues:
- Tax Reforms: Abolishing the unpopular electronic levy (e-levy) and reviewing taxes on betting winnings to alleviate financial burdens.
- Port Charges: Rationalizing fees and scrapping unnecessary charges at Ghana’s ports, ensuring 24/7 operations, including weekends and holidays.
- Corruption and Government Size: Reducing corruption, streamlining government operations, and improving revenue generation.
- Oil, Mining, and Cocoa Investments: Fast-tracking new oil and gas wells, boosting the mining sector, and revamping cocoa production to ease tax burdens on citizens and businesses.
- Private Sector Collaboration: Creating an environment to attract private-sector investments for job creation.
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Revitalizing Banking and Technology
Mahama plans to reform the Bank of Ghana and restore banking licenses revoked by the current administration. He also aims to rejuvenate the financial sector, prioritizing local participation in industries like telecommunications, agriculture, and construction to generate employment.
On the technology front, Mahama intends to launch a Digital Jobs Initiative, creating 300,000 skilled jobs for the youth and establishing a $50 million FinTech Growth Fund. His government also plans to train one million coders in digital skills and provide free WiFi for public secondary and tertiary institutions.
National Economic Dialogue
Within his first 100 days, Mahama has promised to convene a National Economic Dialogue to craft homegrown policies tailored to Ghana’s unique challenges. This move underscores his commitment to inclusive and sustainable economic reform.
As Ghanaians face economic hardships, Mahama’s ambitious plans—spanning tax relief, job creation, digital innovation, and structural economic reforms—aim to reset the nation’s trajectory. With the elections scheduled for December 7, 2024, Mahama remains optimistic about his chances of winning and delivering on his promises to transform Ghana’s economy.
John Dramani Mahama: From Teacher to President
John Dramani Mahama, born on November 29, 1958, is a Ghanaian politician who served as President of Ghana from July 24, 2012, to January 7, 2017. He ascended to the presidency following the death of his predecessor, John Evans Atta Mills, making him the first Ghanaian vice president to assume the presidency under such circumstances. He was also the first head of state born after Ghana’s independence in 1957.
A member of the National Democratic Congress (NDC), Mahama began his political career as a Member of Parliament for Bole-Bamboi, serving from 1997 to 2009. He held roles as Deputy Minister for Communications from 1997 to 1998 and later as the substantive Minister for Communications. In 2009, he became Vice President under President Mills. After completing Mills’ term, he won the December 2012 presidential election, securing a full term as president. However, in 2016, he lost his reelection bid to Nana Akufo-Addo, marking the first time a sitting Ghanaian president failed to win a second term.
Early Life and Education
Mahama was born in Damongo in present-day Savannah Region to Emmanuel Adama Mahama, a prominent rice farmer and teacher who served as the first Member of Parliament for West Gonja and Regional Commissioner of the Northern Region under President Kwame Nkrumah. Raised primarily by his mother, Mariko Wada-Westbrook, Mahama grew up in a modest environment.
He attended Accra Newtown Experimental School and Achimota Primary School before completing his secondary education at Ghana Secondary School in Tamale. Mahama earned a bachelor’s degree in history from the University of Ghana, Legon, in 1981 and a postgraduate diploma in communication studies in 1986. He furthered his studies at the Institute of Social Sciences in Moscow, specializing in social psychology, where he earned a postgraduate degree in 1988.
Professional Beginnings
Before entering politics, Mahama taught history at the secondary school level and worked as an Information, Culture, and Research Officer at the Japanese Embassy in Accra from 1991 to 1995. He then joined Plan International, an anti-poverty NGO, where he managed international relations and sponsorship communications. Mahama also participated in professional training programs in Tokyo and Nairobi, broadening his expertise in public relations and management.
Political Career
Member of Parliament and Ministerial Roles
In 1996, Mahama was elected as Member of Parliament for Bole-Bamboi, a position he held for three terms. As Deputy Minister for Communications from 1997 to 1998, he was instrumental in stabilizing Ghana’s telecommunications sector after its deregulation. Promoted to Minister for Communications in 1998, Mahama chaired the National Communications Authority and played key roles in initiatives like the Ghana AIDS Commission and the reintroduction of VAT.
From 2001 to 2004, he served as the Minority Spokesperson for Communications in Parliament. Mahama also became the Director of Communications for the NDC and participated as an international observer for Zimbabwe’s parliamentary elections. His contributions extended to the Pan-African Parliament, where he chaired the West African Caucus from 2003 to 2011.
Vice Presidency and Presidency
Sworn in as Vice President on January 7, 2009, Mahama chaired key national committees, including the National Economic Management Team and the Armed Forces Council. Following President Mills’ death in July 2012, Mahama assumed the presidency, later winning the December 2012 election to serve a full term.
During his presidency, Mahama prioritized infrastructure development, energy reforms, and regional integration. Despite these efforts, he faced criticism over economic challenges and corruption allegations, leading to his defeat in the 2016 elections.
Legacy and Personal Life
A champion for education and youth empowerment, Mahama is known for his charisma and eloquence. He authored My First Coup d’État, a memoir that reflects on his personal and political journey.
Mahama is married to Lordina Mahama and has five children.
