By Constance Gbedzo
In my earlier article, which was featured in the B&FT on Thursday, 18th April 2024, titled 'The Cost of Following Poor Corporate Governance Practices for the People of Ghana', I aimed to bring to the attention of Ghanaian leaders Section 36 (1) within the Directive Principles of State Policy and Economic Objectives, which states that 'the State must take all necessary measures to ensure that the national economy is managed in a way that maximizes economic growth and ensures the greatest possible well-being, freedom, and happiness for every individual in Ghana, while also providing sufficient means of subsistence, suitable employment, and public support for those in need'.
It was clear at that time that 'the state has truly let its people down.' 'Leadership, over the years, has promised the youth hope but delivered despair instead.' 'It seems that Ghana is functioning without a clear objective, which is why we continually lose direction in bringing about social and economic progress for the people.' 'Those responsible for managing the Ghanaian economy have made the issues more complicated than they need to be.' There was a strong appeal that 'they must simplify Ghana's development programs to focus on the productive parts of the economy and make more careful decisions.' 'Clearly, we need to establish our nation's purpose. This purpose determines the level of our shared commitment to accomplish something, living with a plan, aiming for a goal, and striving to achieve that plan.'
Nevertheless, it is becoming evident that in a political environment frequently marked by grand promises and broken commitments, His Excellency, President John Dramani Mahama seems resolved to change the story.
Having recently assumed office for a non-consecutive second term in January 2025, Mahama has quickly begun transforming his campaign promises into tangible initiatives, showcasing a fresh dedication to tackling Ghana's significant economic and social issues. The belief that "the leader truly matters" is strongly reinforced by the initial steps taken by President Mahama.
His rapid shift from campaign pledges to concrete policy execution, especially regarding the 24-Hour Economy, highlights a forward-thinking and outcome-focused strategy that could greatly influence Ghana's socio-economic development.
In numerous ways, the President's early actions demonstrate the significance of strong leadership.
- Translating Vision into Action:The 24-Hour Economy played a key role in his election platform. The official launch occurring only a few months into his presidency, along with comprehensive policy papers and an advisory panel, indicates a strong determination to go beyond mere talk. This swift action demonstrates a leader who is resolute and dedicated to fulfilling his pledges.
- Strategic Economic Overhaul:President Mahama highlighted that the 24-Hour Economy is not merely about increasing working hours, but rather a broad strategy aimed at boosting productivity, creating more opportunities, and speeding up exports through carefully planned and inclusive measures, making it a multi-dimensional approach. It involves tax breaks, reduced electricity rates, expedited regulatory approvals, and better access to financing for businesses that operate continuously. This holistic method, intended to enhance productivity, exports, and employment, reflects thoughtful planning and an awareness of the interrelated nature of economic elements. The initiative seeks to drive economic expansion, generate high-income jobs, and increase Ghana's competitiveness globally. It is expected to influence several sectors, including agriculture, manufacturing, and public entities with significant customer volumes like ports and harbors.
- Addressing Core Economic Challenges:Mahama's emphasis on sectors such as agriculture, manufacturing, and export diversification tackles Ghana's prolonged dependence on unprocessed commodity exports. The creation of anAccelerated Export Development Advisory Panel, led by the President personally, highlights this dedication, with an objective to increase Ghana's non-traditional export revenues from $3.5 billion per year to a minimum of $10 billion by 2030. Clearly, President Mahama is establishing challenging yet quantifiable goals that, if met, could significantly reshape Ghana's economic and social environment.
- Financial Accountability and Tax Policy Changes:The removal of unliked taxes such as the E-Levy, betting tax, and emissions tax, as mentioned in his administration's 2025 budget, offers real support to individuals and companies. Although this poses a difficulty for generating income, it also shows an openness to public opinion and a desire to reduce the pressure on regular Ghanaians. The implementation of new financial guidelines, such as an Independent Fiscal Council and a limit on debt, further demonstrates a dedication to prudent economic management.
- Prioritizing Social Welfare:In addition to economic renewal, Mahama's government is showing a forward-thinking approach towards social welfare and leadership. The swift focus on older adults, such as initiatives to enhance the pension system and improve the National Health Insurance Scheme, reflects a leader who values social support systems and the respect due to the elderly. Bringing back free sanitary products for female students and increasing access to education also show this dedication.
- Future Goals and Organizational Development:President Mahama has assigned the newly established 8th National Development Planning Commission (NDPC) the responsibility of merging current long-term development strategies into a single, consistent plan that goes beyond political terms. This initiative mirrors Ghana's first President Kwame Nkrumah's idea for sustained national progress, seeking to decrease dependence on raw materials and promote lasting growth. The goal is to ensure stability and consistency in national development, regardless of shifts in leadership, showcasing a sophisticated and progressive approach.
- International Engagement:In keeping with his longstanding dedication to social justice, President Mahama has also been a strong voice on the global stage. In February 2025, during the 38th Ordinary Session of the African Union Assembly, he urged unified efforts regarding reparations for historical wrongs experienced by Africans and people of African heritage, in line with the AU’s Agenda 2063. This highlights a wider perspective that goes beyond national boundaries, establishing Ghana as a leader in tackling regional challenges. His clear readiness to support pan-African causes enhances Ghana's standing internationally.
Although Ghana continues to face major challenges such as ongoing economic difficulties and the necessity for debt restructuring, President Mahama's first few months in power show a strong commitment to moving past empty promises. His government's emphasis on practical execution, forming strategic alliances, and adopting a comprehensive strategy for national progress indicates a genuine attempt to meet the expectations of Ghanaians. The shift "from slogan to action" demands firm political resolve, effective team formation, and a well-defined plan, all of which appear to be characteristics of the President's current strategy. The upcoming months will certainly assess the success of these efforts, but the initial signs point to a leader dedicated to tangible actions rather than just empty words.
At heart, President John Mahama's initial steps in his second term reveal a leader who is not only clear in his vision but also deeply involved in the complex aspects of putting policies into action. Although the ultimate effectiveness of these efforts is yet to be determined, the early showing of leadership in turning pledges into real strategies is a strong sign that the leader does make a difference.
As a business development specialist and social entrepreneur, my recommendation to Ghanaians is that President John Mahama's efforts, especially the 24-Hour Economy, offer a major chance for us to enhance our economic situation and support national growth. To make the most of these policies, individuals, business owners, and companies should be active and plan wisely.
It is essential to remain updated, take part in national discussions, build connections and work together, adopt digital changes, and maintain financial responsibility. By actively involving themselves and gaining a clear understanding of President Mahama's programs, Ghanaians can place themselves in a position to gain personal advantages while also making a substantial contribution to the country's economic renewal and development.
The author is an expert in Risk and Enterprise Development.
Provided by SyndiGate Media Inc.Syndigate.info).