9 months of Mahama and a Bouncing Baby Economic Recovery
The set of facts we have before us are nothing short of extraordinary. Nine months! A mere gestation period for bringing forth new life, and President Mahama has already delivered a bouncing baby economic recovery that would make any midwife proud. If this were a ludo match, John Mahama’s dice has fallen on six, for nine months straight.
Let's talk about taxes, shall we? The man promised to scrap the E-Levy within 90 days, and with the spirit of Nkrumah, he actually did it, chale! In politics, keeping promises is about as common as finding an obese Makola woman doing backflips whilst reciting Kofi Awoonor, yet here we have a chap who said he'd do something and then — wait for it — actually went ahead and he’s doing the damn thing!
Mobile money users and fintech companies are positively jubilant, and who can blame them? The E-Levy had become something of a national irritant, like a pebble in one's shoe during a marathon. Every transaction, taxed! Every mobile money transfer, dinged! It was suffocating enterprise and innovation. But Mahama understood what the previous lot simply couldn't grasp: sometimes you need to let people breathe, let businesses flourish, let the economy find its natural rhythm without the government's hand perpetually in everyone's pocket.
Urban professionals and small business owners — the engine room of any modern economy — have responded with enthusiasm that borders on relief. These are the people who create jobs, who innovate, who take risks. And they'd been feeling rather stifled, shall we say, like a plant trying to grow in a pot three sizes too small. Now they can expand, invest, dream bigger dreams!
Now, the naysayers will mutter about “revenue streams” and “fiscal responsibility” wringing their hands and predicting doom. But here's the thing about economic growth: you can't tax your way to prosperity any more than you can drink yourself sober. Sometimes bold moves are required, and Mahama has shown the sort of courage that marks the difference between managers and leaders.
Consider this magnificent display of self-discipline: Mahama capped ministerial positions at 60, wielding the axe of austerity with the precision of a Christie Brown tailor making a piece. For decades, Ghana has suffered from bloated cabinets stuffed with political appointees like a Christmas goose, each one adding to the wage bill whilst achieving precious little. But Mahama looked at this absurdity and said, “No more!”
And he didn't stop there. He banned non-essential government travel in February — imagine that! Politicians voluntarily limiting their own jollies abroad! It's like turkeys voting for Christmas, except these turkeys are actually serious about governing rather than gallivanting around international hotels on the taxpayer's dime.
This isn't just symbolic gesturing — though the symbolism is rather powerful, one must admit. This is real money being saved, real resources being redirected toward things that actually matter: schools, hospitals, roads, agricultural development. The sort of investments that build nations rather than merely padding the comfort of those who govern them.
The opposition grumbles that it doesn't go far enough, but honestly, when have opposition parties ever been satisfied? If Mahama walked on water, they'd complain he couldn't swim. The point is he's taking action where others merely talked about it, and in Ghanaian politics, that's refreshingly rare.
But here's where it gets truly spiffing, where the pudding reveals its proof: inflation has plummeted from 23.8% in December 2024 to 11.5% by August 2025. That's not just good; that's spectacular! That's the kind of turnaround that economic textbooks write about!
Think about what that means in practical terms. When inflation is raging at nearly 24%, money melts in your pocket like ice cream in the Accra sun. Savings become worthless. Planning becomes impossible. The future becomes uncertain. But cut that nearly in half in nine months? That's the sort of achievement that deserves applause, perhaps even a standing ovation!
And the cedi! Oh, the glorious cedi! This currency that had been treated like yesterday's akple, that had been the butt of jokes and the source of national embarrassment, is now strutting about like prime Suzie Williams! Bloomberg reported it as one of the best-performing currencies globally. The symbolism is delicious: Ghana, once again, can hold its head high in international markets.
Now, I'll grant the critics this much: not every Ghanaian has felt these improvements yet. Food prices remain stubbornly high in some markets. Young people still struggle to find meaningful employment.
But here's what's crucial to understand: Mahama inherited an absolute mess! High debt levels, an IMF bailout programme with more conditions than a Christian marriage, depleted reserves, and a population that had quite reasonably lost faith in government's ability to manage anything beyond its own incompetence. That's not a blank canvas; that's a canvas that's been painted over seventeen times with increasingly dark colours!
Turning that around requires not just policy changes but restoring confidence, rebuilding institutions, and convincing both domestic and international partners that Ghana is back in business. And in nine months, he's made remarkable progress on all fronts.
Ghana’s reset is in progress, and the early returns suggest the program is running rather well indeed. Give it time to fully boot up, and we might just see something extraordinary emerge.
Authored by V. L. K. Djokoto