Mahama SONA – Adomonline.com

Mahama’s “I will fix the economic crisis” pledge inspires hope – Godfred Bokpin

Gertrude Okyere — Fri, 28 Feb 2025 11:34:54 +0000

Finance and Economics professor at the University of Ghana Business School (UGBS), Professor Godfred Bokpin, has described President John Dramani Mahama’s pledge to fix Ghana’s economic challenges as refreshing and reassuring.

During his State of the Nation Address on Thursday, February 27, President Mahama declared, “I will fix the economic crisis of the country,” attributing the current economic downturn to the Akufo-Addo administration.

Speaking on Joy FM’s Super Morning Show on Friday, Professor Bokpin said the president’s statement signifies a willingness to take ownership of the country’s financial difficulties, which he believes is crucial in addressing the crisis.

“In fact, the president said, ‘I will fix it,’ and for me, that gives hope,” he noted. “It is a demonstration of leadership taking ownership of the crisis, which is essential in times like these.”

Professor Bokpin compared the economic situation in 2017, when President Mahama handed over power to the Akufo-Addo administration, to the current state of affairs, highlighting the need for strong economic leadership.

“This is not, as some have suggested, a lamentation,” he added. “I don’t think President Mahama intended to write the second book of Lamentations in the Old Testament. Instead, he laid out a clear and actionable plan.”

According to him, while State of the Nation addresses often contain broad political statements, Mahama’s speech went beyond rhetoric by outlining specific actions to address the economic downturn.

“Clearly, the president outlined what they are going to do,” he stated. “Others may say these speeches are just political positioning, but the president took it a step further by detailing specific actions they will take.”

Professor Bokpin expressed optimism that the commitment to “fix it” signals a responsible approach to tackling Ghana’s financial challenges. While the road to economic recovery may be tough, he believes the pledge offers a sense of confidence that the country can overcome its difficulties.

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‘Big promises, no funding plan’ – Abena Osei-Asare tells Mahama

Gertrude Okyere — Fri, 28 Feb 2025 06:54:31 +0000

Former Minister of State at the Finance Ministry, Abena Osei-Asare, has criticized President John Mahama’s State of the Nation Address (SONA), accusing him of proposing ambitious social intervention programs without outlining a clear funding strategy.

“It is ironic that, on the one hand, the President describes the economy as being in an intensive care unit (ICU), yet, on the other hand, he is pushing for massive new social intervention programs without indicating how they will be financed,” the Atiwa East MP said in response to Mahama’s address.

She argued that while the New Patriotic Party (NPP) government faced economic challenges, it took “decisive and responsible actions” to stabilize Ghana’s economy.

Osei-Asare highlighted improvements in the financial sector, increased private sector credit, and enhanced foreign reserves as signs of recovery before Mahama took office.

“The financial sector is in a much stronger position today than it was at the end of 2016,” she stated.

“Total banking sector assets rose from GH¢81.2 billion in December 2016 to GH¢367.2 billion in October 2024. Private sector credit increased by 28.8% in October 2024, compared to negative 7.5% in 2023. These are indicators of an improving financial system.”

Despite these gains, she accused Mahama of painting an exaggeratedly bleak picture to justify his expansionary policies.

“Ghana’s economy was not ‘criminally handled,’ as the President implies. Like many economies worldwide, we faced challenges, but we took responsible measures to address them. The signs of economic recovery were evident before the change in government.”

She expressed concerns over Mahama’s newly announced programs, including the Agriculture for Economic Transformation Agenda (AETA), the Feed Ghana Programme, the Poultry Farm-to-Table Project (Nkoko Nkitinkiti), the Adwumawura Programme, the One Million Coders Programme, and the Ghana Medical Trust Fund (MahamaCare).

“These are very expensive programs, yet the President failed to tell Ghanaians how they will be funded,” she said.

“Given his own pessimistic economic assessment, the expectation would have been for the government to stabilize the economy first before announcing major spending initiatives.”

Osei-Asare warned that Mahama’s policies signal a return to the NDC’s high-spending approach, which led Ghana into an IMF bailout in 2015.

“Instead of focusing on sustaining and improving growing confidence in the economy, the President is committing to large-scale social programs without a sustainable funding plan. This is a dangerous fiscal path.”

She also dismissed Mahama’s call for a National Economic Dialogue, suggesting it was a political maneuver rather than a sincere attempt at consensus-building.

“Instead of resorting to endless committees, commissions, and dialogues, he should get down to implementing the policies he campaigned on. Governance is about leadership and execution, not deferring responsibility through unnecessary consultations.”

Concluding her statement, Osei-Asare called for responsible economic planning and strong leadership.

“Ghana does not need more rhetoric—it needs a vibrant private sector, fiscal discipline, and policies that empower individuals to thrive. A leader who spends too much time looking back will eventually stumble. Ghana needs vision, not an obsession with the past.”

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Livestream: Mahama delivers first SONA

Gertrude Okyere — Thu, 27 Feb 2025 10:45:34 +0000

President John Mahama is set to deliver his first State of the Nation Address (SONA) for his second today, February 27 in Parliament.

This is in fulfillment of Article 67 of the 1992 Constitution.

The address will set the tone for the Mahama-led administration’s ambitious “Resetting Ghana” agenda, which aims to revive the economy, create jobs, and restore stability.

The President will also use the opportunity to provide an in-depth assessment of the country’s current economic situation, outlining the challenges inherited and the government’s plans for economic recovery.

Ahead of the address, there have been demands for the President to outline measures to tackle the galamsey menace, ensure sustainable development, and protect natural resources.

Key stakeholders, including the Trades Union Congress (TUC), business leaders, and civil society groups, have also called for measures to address the soaring cost of living, wage disparities, and infrastructure challenges.

Watch a livestream of the proceeding below:

Mahama to deliver first State of the Nation Address today

Gertrude Okyere — Thu, 27 Feb 2025 06:52:47 +0000

President John Mahama is scheduled to present his first State of the Nation Address (SONA) today, February 27, 2025, as programmed by Parliament.

The presentation aligns with constitutional provisions requiring the President to update the nation on the country’s state.

The event is expected to take place at 10:00 am.

It will set the tone for the Mahama-led administration’s ambitious “Resetting Ghana” agenda, which aims to revive the economy, create jobs, and restore stability.

Ahead of the address, there have been demands for the President to outline measures to tackle the galamsey menace, ensure sustainable development, and protect natural resources.

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Suhuyini reiterates Mahama administration’s commitment to developing untarred roads