Barely half a year into his tenure, President John Dramani Mahama’s “Reset Agenda” is showing promising signs of revitalising Ghana’s economy.
Since assuming office in January 2025, the nation has witnessed a tangible shift, fueled by strategic policy implementations and a renewed sense of optimism. While challenges remain, the early indicators suggest a positive trajectory under the new leadership.
One of the most significant achievements has been the taming of inflation. The previous administration struggled to control rising prices, leaving the nation grappling with economic uncertainty.
However, the latest figures paint a more encouraging picture. In May 2025, the inflation rate stood at 18.5%, a substantial decrease from the alarming 23.8% recorded in December, 2024. This reduction, attributed to a combination of prudent fiscal management and targeted interventions, provides much-needed relief for Ghanaian citizens struggling with the rising cost of living.
Furthermore, Ghana’s economy has demonstrated robust growth in the first quarter of 2025. According to recent data, the economy grew by 5.3%, surpassing the 4.9% growth recorded in the same quarter last year.
This acceleration in economic activity signifies a resurgence in key sectors, demonstrating a potential rebound from the challenges faced in the preceding years. This growth is being driven by a renewed focus on attracting foreign investment and supporting local businesses through accessible financing and streamlined regulations.
Perhaps the most visible indicator of the positive change is the strengthening of the Cedi. Under the previous administration, the national currency experienced a dramatic decline, plummeting to record lows and sparking widespread concern.
At one point, the Cedi reached an alarming exchange rate of approximately GHS17 to 1 USD. This instability eroded purchasing power and hindered economic progress.
However, the Mahama administration has successfully reversed this trend. Through a series of strategic interventions, including prudent monetary policies and measures to curb illicit financial flows, the Cedi has strengthened considerably, currently hovering around GHS10 to 1 USD. This stabilisation provides much-needed confidence in the economy and contributes to a more predictable business environment.
These early successes have been met with widespread goodwill from the Ghanaian people. President Mahama is currently enjoying a resurgence of support, fueled by the tangible improvements in key economic indicators. His commitment to transparency, accountability, and inclusive governance resonates deeply with the public, creating a positive atmosphere for further progress.
While these initial gains are encouraging, it is crucial to acknowledge that challenges remain. Sustaining this positive momentum requires unwavering dedication to the “Reset Agenda” and continuous adaptation to the evolving global economic landscape. Key priorities include further reducing inflation, diversifying the economy, addressing unemployment, and investing in critical infrastructure.
With the massive goodwill he is enjoying from the good people of Ghana, this is undoubtedly the season of President John Dramani Mahama.
This is his opportunity to shine again, to solidify his legacy, and to leave behind an unmatched contribution to the nation’s development.
The initial signs are very promising, but the journey towards a truly transformed Ghana has only just begun.
Anthony Obeng Afrane
