Arise Ghana Lauds Economic Stabilisation, Demands Accountability One Year into Mahama Administration

Accra, January 7, 2026 — Pressure group Arise Ghana has acknowledged significant economic stabilisation under President John Dramani Mahama’s first year in office, but insists that the gains will be meaningless without firm action against corruption and sustained governance reforms.

At a press conference held on Wednesday at the International Press Centre in Accra, the group presented what it described as an “independent national reflection” on the performance of the Mahama administration, exactly one year after it assumed office.

Addressing the press on behalf of the group, Co-Convener Marion Gifty Nyaaba said Ghana had moved from “economic free fall” to relative stability, citing sharp improvements in inflation, currency performance, debt management and investor confidence.

“Ghana was cornered in January 2025—economically battered, socially strained and institutionally fragile. Today, the ship has been steadied. But stability is only the foundation, not the destination,” she said.

Economic Turnaround Highlighted

Arise Ghana noted that inflation has dropped from over 23% to 6.3%, while economic growth has rebounded to above 6%. The group also pointed to a strengthened external position, with foreign reserves exceeding $11 billion, enough to cover nearly five months of imports.

According to the assessment, Treasury bill rates have fallen from over 30% to about 11%, easing credit conditions for businesses, while public debt has been restructured to reduce immediate repayment pressures.

The group singled out the Ghanaian cedi as a standout performer, noting its appreciation to about GH¢10.4–10.6 to the US dollar, making it one of the world’s best-performing currencies in 2025.

“For the first time in over three decades, the cedi has recorded an annual appreciation. This is not cosmetic; it directly lowers imported inflation and restores confidence,” Nyaaba stated.

Tax Relief and Business Confidence

Arise Ghana welcomed the abolition of the E-Levy, the COVID-19 Health Recovery Levy, betting taxes and emissions taxes, describing them as relief measures that have injected liquidity into households and small businesses.

The group argued that the shift from what it called “crisis taxation” to incentive-based fiscal policy has helped revive consumption and enterprise growth.

Governance and Anti-Corruption Warning

Despite commending the administration’s consultative approach to governance, Arise Ghana issued a strong warning that anti-corruption efforts must move beyond rhetoric.

It welcomed initiatives such as the Code of Conduct for public officials, Operation Recover All Loot (ORAL) and constitutional reform discussions, but insisted that success would be measured only by prosecutions and convictions.

“Justice must be blind. At all costs, individuals implicated in past financial scandals must not escape accountability,” the group said.

Arise Ghana specifically called for the arrest and extradition of former Finance Minister Ken Ofori-Atta, arguing that failure to pursue high-profile cases would undermine public trust and erase recent economic gains.

Sector Reforms: Cocoa, Gold and Energy

The group praised reforms at COCOBOD, noting improved debt management and higher producer prices, but urged the government to accelerate value addition to reduce Ghana’s dependence on raw cocoa exports.

On mining, Arise Ghana described the establishment of GoldBod as a “decisive intervention”, crediting it with formalising small-scale mining, curbing smuggling and contributing over $4 billion to foreign reserves through gold exports.

The revival of the Tema Oil Refinery (TOR) after more than six years of inactivity was also hailed as a major step toward energy security and foreign exchange conservation.

24-Hour Economy and Youth Unemployment

Arise Ghana said the government’s 24-Hour Economy policy holds promise but warned that its success depends on reliable electricity, security, transport systems and worker protections.

The group identified youth unemployment, with over 1.3 million young people idle, as one of the most urgent threats to social stability, calling for skills training, entrepreneurship financing and inclusive growth strategies.

Rejection of Third-Term Agenda

The pressure group also rejected any talk of a third-term presidency, describing it as unconstitutional and dangerous.

“Ghana needs strong institutions, not perpetual leaders. President Mahama must govern effectively and exit gracefully,” the statement said.

Call for Sustained Vigilance

In its closing remarks, Arise Ghana said Ghana had reached a critical threshold, moving from crisis to stability, but warned that corruption, complacency and weak enforcement could reverse the gains.

The group pledged continued engagement with the media, civil society and citizens to monitor government performance and enforce what it described as the social contract between the state and the people.

 

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