– Daniel Akande

The Ghanaians went to the poll for their general elections on December 7, 2024, with most of the Nigeria political analysts and social media commentators stating that Nigeria has a lot to learn from Ghana’s election as it was reported that there were little or no fatalities as a result of the elections and that the Ghana electoral body put forward modesty, and conducted a free and fair election.

The election resulted in a significant political shift, with former President John Dramani Mahama of the National Democratic Congress (NDC) securing the presidency and the NDC obtaining a majority in parliament. The winner John Dramani Mahama of the NDC got 56.55% in that election and the former vice President Mahamudu Bawumia (New Patriotic Party – NPP), Bawumia conceded defeat on December 8, 2024, congratulated Mahama on his victory. The Electoral Commission officially certified the results on December 9, 2024. Also, Jane Naana Opoku-Agyemang, the Vice-President-elect, became Ghana’s first female Vice President upon inauguration on January 7, 2025.

With the Voter Turnout at 60.9% and the total votes at approximately 18.8 million, if compared with the previous election this marks a decline from the 79% turnout observed in the 2020 elections which suggests a clear disillusion and lack of political trust due to the failures and inability of the electorates to deliver on their electoral campaign promises. And because governance has little or no positive impact on the people of Ghana, thereby, fewer people came out to vote this time around. The Electoral Commission of Ghana provides detailed regional voting data. For instance, in the Greater Accra region, Mahama secured 1,260,823 votes, while Bawumia received 681,535 votes. In the Ashanti region, Bawumia led with 1,366,800 votes to Mahama’s 697,076.

The Economic Community of West African States (ECOWAS) reported that the elections were generally peaceful completely ignoring incidences of damage to election materials at collation centres, delaying results in nine constituencies, causing injury to some few persons and the reported death of person.

This election occurred amid significant economic challenges, including high inflation and unemployment rates. Mahama has pledged to address these issues by renegotiating a $3 billion International Monetary Fund (IMF) bailout, simplifying business regulations, implementing tax reforms, and investing $10 billion in infrastructure modernization. However, these policies are unlikely to address the systemic issues underpinning Ghana’s economic woes. They largely conform to directives from international financial institutions that prioritize austerity, privatization, and commercialization—measures that historically exacerbate poverty and inequality.

These election outcomes reflect a global trend favoring opposition parties during periods of economic dissatisfaction. The election generally shows the general disillusionment of the people, due to the economic hardship and monumental failure of the subsisting political parties.  The Ghana inflation rate in 2023 surged to 38.11%, marking a significant increase from 31.26% in 2022. 

As of November 2024, consumer inflation has risen for the third consecutive month, reaching 23%, the steepest since May. This uptick is primarily driven by rising costs in food, non-alcoholic beverages, housing, water, fuel, and transport, which collectively contribute to about two-thirds of the overall inflation rate. Food inflation according to Reuters remains a significant concern.

In November 2024, food prices increased by 25.9% compared to the same month in the previous year. Notably, locally produced foods have been major contributors to this rise, with items like vegetables, tubers, and plantains experiencing substantial price hikes. The transportation sub-index of the Consumer Price Index (CPI) in Ghana increased to 225.70 points in November 2024 from 223.57 points in October 2024, indicating a rise in transportation expenses.

The combination of high inflation and rising costs has adversely affected the standard of living for many Ghanaians. The World Bank notes that weak economic growth, limited government spending, and high inflation—particularly in food prices—have worsened living standards, pushing more people into poverty and increasing the risk of food insecurity. According to the World Bank, there has been a steady increase in crime, especially in large cities such as Accra, Kumasi, and Takoradi. Incidents of robbery, burglary, and serious assault have become more common since 2021, with some cases involving the use of weapons. Northern Ghana faces security challenges due to the presence of Islamist militants from Burkina Faso. These groups use the area as a logistical and medical base, posing potential risks of further instability.

Although, Mahama’s victory reflects the Ghanaian electorate’s desire for change and effective governance. The fundamental question to be asked is what political and economic ideas the incoming president put forward that can salvage the people of Ghana. The point is that there is no fundamental difference between the outgoing political party idea and the new one – they are all ideas pointing at the directive from the IMF and World Bank, the policies of austerity, commercialization, and privatization which have continued to render the lives of the mass of the working people to nothingness.

For the working class in Ghana—and globally—real hope lies not in alternating or switching between capitalist-oriented political parties but in building a mass-based workers’ party that roots itself within the scientific ideas of Marxism — and challenges the exploitative structures of capitalism. This party must dwell within the rank-and-file workers’ movement and advocate for socialist policies, including wealth redistribution, public ownership of key industries, investment in social services, and democratic economic planning to meet the needs of the majority, not the elite. Only through such fundamental transformations can Ghana—and other nations—truly address the economic woes and injustices inherent in the capitalist system.