Economist and Professor of Finance at the University of Ghana, Godfred Bokpin, has emphasized the critical importance of how the country manages its affairs, particularly during the transition period, for its economic growth or potential decline.
Professor Bokpin stated that the incoming administration will face significant challenges in forming the government during the transition from January to March 2025, which he described as a “crucial” time for Ghana’s future.
“The first three months will be very critical, and that is also the transition period. How they manage the transition will be crucial,” he maintained
He explained that the first three months of the transition will be especially important, stressing that previous transitions have not been well managed in the past.
Ghana is scheduled to hold elections on December 7, 2024, to choose new parliamentary members and a president for the next government. According to Bokpin, whenever there has been a regime change since 1992, the country has experienced chaos, which has negatively impacted the investment climate. He urged that this transition should be managed efficiently and smoothly, regardless of which party wins the election.
In a conversation on Joy FM’s Super Morning Show on November 20, 2024, Prof. Bokpin also highlighted the importance of prioritizing agriculture in the upcoming administration’s policies to boost the economy. He argued that focusing on agriculture would not only improve food security but also create jobs and help stabilize the cost of living.
Effective leadership, Prof. Bokpin noted, is essential for Ghana’s success, with an emphasis on addressing inflation.
“Reducing food prices and inflation will directly benefit the people of Ghana,” he said, pointing out that tackling inflation is crucial for alleviating the financial burdens on citizens.