Article: Can Ghana’s Economy Be Reset? – Richard Hagan Writes

Ghana’s economy has been experiencing significant challenges, but with the recent elections in December 2024, there’s a new voting behavior that prioritizes economic improvement.

Richard Hagan, an expert advisor on global economic strategies, has noted that Ghanaian voters have shifted their focus from personality-based to party-based preferences.

He revealed that historically, Ghanaian voters have alternated between the two major political parties, the National Democratic Congress (NDC) and the New Patriotic Party (NPP), in eight-year cycles.

According to him, this shift in voting behavior emphasizes which government can improve the economy by creating enough money in their pockets and reducing daily cash demand.

‘This pattern indicates that voters prefer to give each party a full two-term period to implement their policies and projects. President Mahama, representing the NDC, faced an electorate ready for change after the NDC’s eight-year rule, which began with ex-president John Atta Mills in 2009 and continued with President Mahama after ex-president Mills’ death in 2012″.

He noted that several issues contributed to President Mahama’s defeat in 2015. Economic challenges, such as rising unemployment, unreliable electricity, and corruption, played a significant role in swaying public opinion against the NDC.

He believes that the NPP, led by ex-President Akufo-Addo, capitalized on these issues by presenting a focused campaign that promised economic recovery, job creation, and anti-corruption measures.

Richard Hagan said that in December 2024, Ghana’s elections reflected a new voting behavior, emphasizing which government could improve the economy by creating enough money in Ghanaians’ pockets and reducing daily cash demand in the economic system.

He noted that this balance of economy and infrastructure suggests that if the demand for cash is low, Ghanaians will perceive the economy as better, regardless of the actual amount of money in their pockets.

He also asked several questions and congratulated the new government.

 

See the full statement below.

 

Can Ghana’s Economy be Reset?

2024 was a year marked by significant global elections, with voters focusing on economic development within a four-year period, unlike the previous eight-year infrastructure-building cycles. Ghana was no exception to this trend, which I call “Global Economic Voting Behaviour (GEVB).” Both the United States of America and the Democratic Republic of Ghana held elections in the last quarter of 2024, displaying similar voting behavior where electorates prioritized economic improvement.

And I ( Richard Hagan) Quote: “ECONOMY = MONEY IN THE POCKET ( MITP)”. Better Economy means “ENOUGH MONEY IN THE POCKET” and Worse Economy Means: “NO MONEY IN THE POCKET”.

Examining Ghana’s electoral voting behavior since the 1992 Constitution was amended to establish a democratic system in the 4th Republic, it is evident that from 1993 to 2008, voters focused on a balance of personality and infrastructure, with political figures’ names being chanted in the streets.

From 2009 to 2024, the voting behavior shifted to a balance of political party and infrastructure, with either the National Democratic Congress (NDC) or the New Patriotic Party (NPP) dominating eight-year terms.

A case study is the 2015 elections. President John Mahama’s defeat to Ex President Nana Akufo-Addo in the 2015 elections can be attributed to several factors, with a notable shift in voting behavior from personality-based to party-based preferences.

Historically, Ghanaian voters have alternated between the two major political parties, the National Democratic Congress (NDC) and the New Patriotic Party (NPP), in eight-year cycles. This pattern indicates that voters prefer to give each party a full two-term period to implement their policies and projects. President Mahama, representing the NDC, faced an electorate ready for change after the NDC’s eight-year rule, which began with Ex President John Atta Mills in 2009 and continued with President Mahama after Ex President Mills’ death in 2012.

Several issues contributed to President Mahama’s defeat in 2015. Economic challenges, such as rising unemployment, unreliable electricity, and corruption, played a significant role in swaying public opinion against the NDC. The NPP, led by Ex-President Akufo-Addo, capitalized on these issues by presenting a focused campaign that promised economic recovery, job creation, and anti-corruption measures.

In December 2024, Ghana’s elections reflected a new voting behavior, emphasizing which government could improve the economy by creating enough money in Ghanaians’ pockets and reducing daily cash demand in the economic system. This balance of economy and infrastructure suggests that if the demand for cash is low, Ghanaians will perceive the economy as better, regardless of the actual amount of money in their pockets.

I would like to take this opportunity to congratulate the new government. However, several questions remain:

– Will Ghana’s economy improve within the four-year period of better economic governance that Ghanaians now expect?

– Will the “Money in the Pockets” of Ghanaians be sufficient daily?

– Will the demand for cash in Ghana’s economy be low for every citizen?

These questions are crucial as we look forward to the future of Ghana’s economic landscape.

Based on the factual grounds stated in this article, I can deduce with reference to current Global Elections especially Ghana’s electoral Voting behavior that Ghana does not need more than a 4 year term to be reset.

The writer, Richard Hagan is recognized as an entrepreneur, political leader, scholar, philanthropist, and expert advisor on global economic strategies.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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