By Constance Gbedzo
In my previous article, published by the B&FT on Thursday, 18th April 2024 titled ‘Cost of Choosing the Path of Poor Corporate Governance Practices to the People of Ghana’, I sought to remind Ghanaian leaders on Section 36 (1) under the Directive Principles of State Policy and Economic Objectives that ‘the State shall take all necessary action to ensure that the national economy is managed in such a manner as to maximize the rate of economic development and to secure the maximum welfare, freedom and happiness of every person in Ghana and to provide adequate means of livelihood and suitable employment and public assistance to the needy’.
It was obvious then that ‘the state has actually failed its people’. ‘Leadership, over the years, have promised the youth Hope but gave them HOPELESSNESS’. ‘It does appear that Ghana is living without a goal, and this explains why we keep losing focus in delivering socio-economic transformation for the people’. ‘The mangers of the Ghanaian economy have complicated the issues on the economy.’ There was that clarion call that ‘they need to simplify Ghana’s developmental programmes to target the productive sectors of the economy and become prudent in decision making’. ‘Obviously, we needs to define our purpose as a nation. This purpose defines the quality of our collective determination to do or achieve something, living with a PLAN, living to achieve a goal, and working towards achieving such a plan.’
Notwithstanding, it’s becoming clear that in a political landscape often characterized by lofty promises and unfulfilled pledges, His Excellency, President John Dramani Mahama appears determined to rewrite the narrative.
Having recently taken office for a non-consecutive second term in January 2025, Mahama has swiftly moved to translate his campaign slogans into concrete action, demonstrating a renewed commitment to addressing Ghana’s pressing economic and social challenges. The sentiment that “the leader truly matters” finds compelling support in the early actions of President Mahama.
His swift transition from campaign promises to tangible policy implementation, particularly with the 24-Hour Economy, demonstrates a proactive and results-oriented approach that can significantly impact Ghana’s socio-economic trajectory.
In many respects, the President’s initial moves illustrate the importance of leadership.
- Translating Vision into Action: The 24-Hour Economy was a central plank of his campaign. The fact that it was officially launched just months into his presidency, with detailed policy documents and an advisory committee, shows a clear intent to move beyond rhetoric. This rapid execution signals a leader who is decisive and committed to delivering on his promises.
- Strategic Economic Overhaul: President Mahama emphasized that the 24-Hour Economy is not just about extending working hours but rather a comprehensive plan to unleash productivity, expand opportunities, and accelerate exports through well-structured and inclusive interventions, making it a multi-faceted strategy. It includes tax incentives, discounted electricity tariffs, fast-tracked regulatory clearances, and improved access to credit for businesses operating round-the-clock. This comprehensive approach, designed to boost productivity, exports, and job creation, demonstrates strategic thinking and an understanding of the interconnectedness of economic factors. This initiative aims to boost economic growth, create well-paying jobs, and make Ghana more competitive on the global stage. It is envisioned to impact various sectors, including agriculture, manufacturing, and public institutions with large customer bases such as ports and harbors.
- Addressing Core Economic Challenges: Mahama’s focus on areas like agriculture, manufacturing, and export diversification directly addresses Ghana’s long-standing reliance on raw material exports. The establishment of an Accelerated Export Development Advisory Committee, chaired by the President himself, further underlines this commitment, with a stated goal of growing Ghana’s non-traditional export earnings from $3.5 billion annually to at least $10 billion by 2030. Obviously, President Mahama is setting ambitious but measurable targets that, if achieved, could fundamentally transform Ghana’s socio-economic landscape.
- Fiscal Responsibility and Tax Reforms: The prompt abolition of unpopular taxes like the E-Levy, betting tax, and emissions tax, as outlined in his government’s 2025 budget, provides tangible relief to citizens and businesses. While this presents a challenge for revenue generation, it also signals a responsiveness to public sentiment and a willingness to ease the burden on ordinary Ghanaians. The introduction of new fiscal rules, including an Independent Fiscal Council and a debt cap, also points to a commitment to responsible financial management.
- Prioritizing Social Welfare: Beyond economic revitalization, Mahama’s administration is also demonstrating a proactive stance on social welfare and governance. The immediate attention given to senior citizens, including efforts to strengthen the pension system and revamp the National Health Insurance Scheme, highlights a leader who recognizes the importance of social safety nets and the dignity of the elderly. Reintroducing free sanitary pads for female students and expanding access to education further underscore this commitment.
- Long-Term Vision and Institutional Strengthening: President Mahama has tasked the newly inaugurated 8th National Development Planning Commission (NDPC) with consolidating existing long-term development frameworks into a unified, coherent plan that transcends political cycles. This move echoes Ghana’s first President Kwame Nkrumah’s vision for long-term national development, aiming to reduce reliance on primary commodities and foster sustainable growth. This aims to provide stability and continuity in national development, irrespective of changes in government, reflecting a mature and forward-looking leadership.
- International Engagement: In line with his long-standing commitment to social justice, President Mahama has also been a vocal advocate on the international stage. In February 2025, at the 38th Ordinary Session of the African Union Assembly, he called for collective action on reparations for historical injustices faced by Africans and people of African descent, aligning with the AU’s Agenda 2063. This demonstrates a broader vision that extends beyond national borders, positioning Ghana as a leader in addressing continental issues. His demonstrable willingness to champion pan-African issues raises Ghana’s profile on the global stage.
While the challenges facing Ghana, including persistent economic hardship and the need for debt restructuring, remain significant, President Mahama’s initial months in office suggest a clear determination to move beyond rhetoric. His administration’s focus on practical implementation, strategic partnerships, and a holistic approach to national development signals a serious effort to deliver on the aspirations of the Ghanaian people. The transition “from slogan to action” requires strong political will, effective team building, and a clear roadmap, all of which seem to be hallmarks of the President’s current approach. The coming months will undoubtedly test the efficacy of these initiatives, but the early signs indicate a leader focused on concrete action rather than mere slogans.
In essence, President John Mahama’s early actions in his second term indicate a leader who is not only articulate in his vision but also highly engaged in the intricate details of policy implementation. While the long-term success of these initiatives remains to be seen, the initial demonstration of leadership in converting promises into actionable strategies is a powerful indicator that, indeed, the leader truly matters.
As business development expert and social entrepreneur, my advice to Ghanaian is that President John Mahama’s initiatives, particularly the 24-Hour Economy, present a significant opportunity for us to improve our economic well-being and contribute to national development. In order to effectively take advantage of these policies, individuals, entrepreneurs, and businesses need to be proactive and strategic
We need to stay informed, participate in national dialogue, network and collaborate, embrace digital transformation and practice fiscal prudence. By actively engaging with and understanding the specifics of President Mahama’s initiatives, Ghanaians can position themselves to not only benefit personally but also contribute significantly to the nation’s economic revitalization and progress.
The writer is a Risk & Enterprise Development Expert
