Mahama accuses Akufo-Addo of squandering $33 billion. Money from Covid-19 on the 2020 election

President Akufo-Addo has been accused by former President John Mahama of misappropriating funds meant for Covid-19 relief.

According to him, the President poured $33 billion into his 2020 re-election campaign to help offset the pandemic’s devastating effects.

As a result, Mr Mahama believes that the money allegedly sunk into economic restoration measures has yet to be accounted for.

The former President made these accusations at the Harvard Business School’s 24th African Business Conference.

Ghana is currently experiencing a financial downturn, an unstable currency, and worsening debt distress levels, all of which have forced the NPP-led government to take drastic measures, much to the public’s dismay.

John Mahama acknowledged the efforts of countries that are successfully returning to a good footing through fiscal discipline and judicious use of resources during the crisis during his keynote address.

According to the 2020 NDC flagbearer, however, the situation in Ghana is not a good example worth trumpeting.

“With the current administration’s cavalier handling of the economy, Ghana’s fate was easy to predict.” “We went into the pandemic with insufficient buffers and emerged with a severely harmed economy,” he said.

“To make matters worse, the over GH33 billion pandemic windfall that could have cushioned the economy remains unaudited and is believed to have been used largely in the quest to win the 2020 elections at all costs,” Mr Mahama told the audience.

The former President also discussed the pandemic’s devastating effects on the African continent, citing research from the Economic Commission of Africa (ECA) that found “Covid-19 created the continent’s worst recession in 50 years, with real GDP shrinking by an average of 3% in 2020.”

“Poverty reduction was already a major challenge prior to the pandemic. The pandemic is thought to have pushed an additional 55 million Africans into poverty and put another 46 million at risk of hunger and malnutrition. Indeed, this pandemic is directly responsible for 70% of Africa’s hunger, which has been on the rise since 2014.”