By Juliet ETEFE
President Nana Addo Dankwa Akufo-Addo has delivered his final State of the Nation Address (SONA) to Parliament, offering a comprehensive reflection on his eight years in office.
The address captured the strides Ghana has made under his leadership, the challenges faced, and a hopeful vision for the future.
Economic recovery and stability
President Akufo-Addo highlighted the resilience of Ghana’s economy, which faced significant hurdles, particularly during the COVID-19 pandemic.
Through the IMF-supported Post-COVID-19 Programme for Economic Growth (PC-PEG), the administration stabilised the economy.
“Mr Speaker, the country is not broke, as some propagandists want us to believe. We are handing over the country with Gross International reserves of almost eight billion United States dollars ($8 billion. This is more than the six-point-two-billion United States dollars ($6.2 billion) of Gross International Reserves my administration inherited in 2017.
Economic growth has also returned to the pre-COVID trajectory, with an impressive growth rate, rising from four-point-eight-percent (4.8%) in the first quarter of 2024; seven percent (7%) in the second quarter and seven-point-two percent (7.2%) in the third quarter. It is projected that this year’s growth rate will be six-point-three-percent (6.3%), significantly higher than the three-point-four percent (3.4%) my administration inherited in 2017.
The growth of the economy is further reflected in the growth of private sector credit. Private sector credit in nominal terms grew by twenty-eightpoint eight seven percent (28.87%) in October 2024, compared to the negative seven-point five percent (-7.5%) growth recorded in the same comparative period of 2023. In real terms, growth in credit to the private sector improved to five-point five percent (5.5%) compared to a contraction of thirty-one-point six percent (31.6%) recorded in October 2023.
It is further reinforced by improved external balances, with the current account balance improving significantly to a surplus of two-point six percent (2.6%) of GDP in the first nine months of the year, compared to a deficit of six-point six percent (6.6%) of GDP in 2016.
In much the same way, the trade balance has improved, and stands at a surplus of three point eight five billion US dollars ($3.85 billion), compared with a deficit of one point eight billion US dollars ($1.8 billion) in 2016,” he stated.
Debt restructuring, though difficult, was pivotal. The President acknowledged the sacrifices made by Ghanaians but emphasised that these measures restored investor confidence and laid the foundation for sustained economic growth.
Transformations in education
Education reform was a hallmark of President Akufo-Addo’s administration. The Free Senior High School (Free SHS) initiative, alongside Technical and Vocational Education and Training (TVET) programmes, provided opportunities for 5.7 million students.
“We have ensured that secondary education is accessible to all, not just a privileged few,” he stated.
The development of STEM and TVET institutions and improvements in examination results underscored the impact of these initiatives. Ghana’s youth, he noted, are now better equipped for the demands of a modern economy.
Healthcare and social interventions
President Akufo-Addo emphasised strides in healthcare, including the Agenda 111 project to expand access to medical facilities and the revitalisation of the National Health Insurance Scheme (NHIS).
Coverage now includes critical treatments for childhood cancers and sickle cell disease, reflecting a commitment to enhancing health equity.
“The most important intervention is the Agenda 111 project we have embarked upon that aims to place a hospital in every district. Out of the one hundred and one (101) district hospitals and two (2) Psychiatric hospitals on the project list, there are ninety-nine (99) district and two (2) psychiatric hospitals where contractors are deployed and work is in progress.
I had hoped that construction would be completed on all of them, but that was not to be. I am pleased to report that on December 5, I had the utmost pleasure to commission three (3) of the district hospitals. Progress of works on the other ninety-eight (98) active sites range from five percent (5%) for sites whose work commenced recently to ninety-five percent (95%) at other sites.
“I am hoping that the incoming Mahama administration would ensure that the project is completed to put our health infrastructure on a sound footing,” he stated.
The NHIS, which faced challenges before 2017, now serves 17.9 million subscribers, a testament to the administration’s focus on accessible healthcare.
“Furthermore, we launched the National Ambulance Service’s revitalisation programme, increasing the number of ambulances from fifty-five (55) barely functioning ambulances to over three hundred (300), ensuring timely emergency response and saving countless lives,” he added.
Infrastructure Development
Infrastructure development was another cornerstone of the Akufo-Addo administration. Over 12,000 kilometers of roads were constructed and rehabilitated, enhancing connectivity and trade. Major projects, including the Pokuase and Tema Motorway interchanges, were completed, alongside significant investments in aviation and railway infra rehabilitation structure.
Industrialisation also advanced, with Ghana reclaiming its position as Africa’s leading gold producer and establishing its first large-scale gold refinery. Initiatives like the Ghana Integrated Aluminum Development Corporation and the Ghana Integrated Iron and Steel Development Corporation laid the groundwork for long-term industrial growth.
“We have implemented some of the boldest and most progressive policies in the mining, forestry and land sectors.
As a result of these policies, we overtook South Africa as the leading producer of gold on the continent, and have consistently increased gold production to reach an unprecedented four million ounces (4 million oz), last year.
Not only have we revamped dormant mines, like the Obuasi and Bibiani Mines, we have, also, worked to deliver the Cardinal Namdi Mine, the first large scale mine in northern Ghana, and the first greenfield gold mines in our country in more than a decade, with the ongoing construction of new mines in Ahafo by Newmont and Upper West by Azumah Resources.
To add value to these volumes of minerals, we have constructed, through a Public Private Partnership, a four hundred kilogramme (400kg) capacity gold refinery, here in our country. We have, also, concluded discussions with the parent company of Ghana Manganese Company Limited, for the construction of a four hundred and fifty million United States dollars (US$450 million) manganese refinery at Nsuta,” the president stated.
Environmental and sustainability efforts
Sustainability featured prominently in the President’s address. The Green Ghana initiative, responsible for planting over 52 million trees, demonstrated a commitment to combating environmental degradation. Renewable energy projects, such as solar installations at Bui and Kaleo, aligned with global climate goals, positioning Ghana as a leader in sustainable development.
Acknowledging challenges
While celebrating achievements, President Akufo-Addo acknowledged unresolved challenges, including the Bawku chieftaincy conflict and the incomplete Agenda 111 projects.
He urged the incoming administration to address these issues and build on the foundations laid during his tenure.
A Call for unity and progress
President Akufo-Addo congratulated President-elect John Dramani Mahama and expressed confidence in Ghana’s trajectory. “The progress we have made provides a strong foundation for continued growth and prosperity,” he stated.
A legacy of resilience
As he concluded his address, President Akufo-Addo reflected on his administration’s legacy saying “I leave office with immense gratitude and pride in what we have accomplished together”.
Emphasising unity, resilience, and progress, the President expressed hope that Ghana’s best days lie ahead, encouraging all citizens to continue striving for a self-reliant and prosperous nation.
