UGBS Professor of Finance, Godfred Bokpin Urges Ghana’s President-elect, John Mahama to Prioritise a Competent Team to Address Economic Challenges

Prof. Godfred Bokpin, a Professor of Finance at the University of Ghana Business School (UGBS) has urged Ghana’s President-elect, John Dramani Mahama to prioritise a competent team to address Ghana’s economic challenges. This was captured in the article, “Addressing economic challenges: New govt needs a solid team- Experts” by the Daily Graphic on Friday 13th December 2024. Prof. Bokpin was among 3 other experts who shared their perspectives and expectations about the next president -elect and his government.

According to him, the complexity of issues ahead requires immediate action to restore trust among citizens and set the right governance tone. He pointed out that the incoming government cannot afford a honeymoon period. Instead, he urged the President-elect to take advantage of the post-election celebration to commence work like the United States President-elect. Prof. Bokpin noted that the impact of COVID-19 and the debt exchange programme worsened the economic situation in Ghana over the past decade. He stated that data as of November 2023 revealed that inflation for locally produced goods had exceeded that of imported goods, indicating a high cost of running a business in Ghana.

He recommended that the president-elect establish a strategic plan for the 24-hour economy initiative, outlining critical factors and key performance indicators. He added that the campaign promises may not always align with the reality of the situation once in office. However, he advised that the President-elect should prioritise food security stating that it is the quickest way to improve the lives of Ghanaians as the average household spends close to 44% of their expenditure on food. He explained that the election results show growing frustration among Ghanaians, who are impatient for solutions, urging the new government to safeguard Ghana’s democracy urgently.