In just nine months in office, President John Dramani Mahama has delivered what many describe as a “bouncing baby economic recovery,” turning around an economy once crippled by debt, inflation, and waning investor confidence.
The most symbolic of his early wins has been the scrapping of the controversial Electronic Transfer Levy (E-Levy) within 90 days of assuming office. The levy had long been described by mobile money users, fintechs, and small businesses as a suffocating burden. Its removal has sparked renewed enthusiasm among entrepreneurs and consumers alike, restoring vibrancy to Ghana’s digital and financial ecosystems.
President Mahama has also acted decisively to rein in government expenditure. He capped ministerial appointments at 60, cutting down what had become a bloated cabinet in previous administrations. In February, he went further by banning non-essential foreign travel by government officials, a move many saw as both symbolic and substantive in redirecting public resources toward pressing national needs.
These bold measures are already showing results. Inflation has fallen sharply from 23.8% in December 2024 to 11.5% by August 2025. Meanwhile, the Ghana cedi — once a symbol of economic decline — is now among the best-performing currencies globally, according to Bloomberg.
Analysts note that while challenges remain, including high food prices and youth unemployment, the pace of recovery is remarkable given the state of the economy President Mahama inherited. High debt levels, depleted reserves, and a fragile IMF programme left little room for maneuver. Yet his early policy choices have begun restoring confidence at home and abroad.
For many Ghanaians, this nine-month turnaround represents more than just statistics — it signals hope that the nation is back on the path of stability and growth.
