Ghana’s Vice President, Mahamudu Bawumia, has been chosen as the ruling New Patriotic Party’s (NPP) candidate for the upcoming December 2024 presidential election. This decision sets the stage for a highly anticipated contest with former President John Mahama, as the nation braces itself for a significant political showdown.
A seasoned economist and former central banker at the age of 60, Bawumia has played a crucial role as the second-in-command and the face of economic policy throughout the tenure of President Nana Addo Akufo-Addo. President Akufo-Addo is set to step down in January 2025, in accordance with Ghana’s constitution, which limits presidential terms to eight years.
Bawumia secured a resounding victory by winning 61% of the votes cast in the second stage of the primary. This triumph had been widely expected, following his first-place finish in the initial stage of the primary election held in August.
In his acceptance speech, Bawumia pledged to prioritize the revival of Ghana’s economy, which has been grappling with a severe crisis. “I want to lead a nation that improves and unleashes the talents of our youth and offers good jobs with good pay and sustainable growth with macroeconomic discipline,” he declared.
Ghana’s political landscape has seen a pattern where ruling parties are often considered favorites to win presidential races. However, it is worth noting that no party has ever clinched more than two consecutive terms in the country’s history. This factor, coupled with the nation’s ongoing economic challenges, could potentially raise questions about Bawumia’s track record.
Ghana, known for its production of oil, gold, and cocoa, found itself in a precarious financial situation, leading it to seek a $3 billion bailout from the International Monetary Fund. This financial crisis was exacerbated by the economic repercussions of the COVID-19 pandemic and Russia’s invasion of Ukraine.
Said Boakye, a researcher at Ghana’s Institute for Fiscal Studies, expressed concerns about the state of the economy during Bawumia’s tenure as vice president: “With Bawumia as vice president, one would have expected that the economy would be doing well, especially as he is the head of the economic management team, but not much has been achieved.”
Bawumia’s selection as the NPP candidate is also notable for its emphasis on diversity. He became the first Muslim to lead a major party in Ghana since 1992 and the first individual outside the dominant Akan-speaking ethnic group to head the NPP.
As Ghana eagerly awaits the 2024 presidential election, the stage is set for a riveting political contest that will shape the nation’s future. With both Bawumia and Mahama vying for the presidency, Ghanaians are poised to make a choice that could have a profound impact on the country’s economic recovery and political landscape.
Source: Reuters
