Former president John Dramani Mahama and Ghana’s vice president Dr. Mahumudu Bawumia engaged in an open debate at the 8th Ghana CEO Summit.
John Dramani Mahama addressed the 8th Ghana CEO Summit in Accra on Monday and said “unemployment has jumped to 14.7 per cent from 8.5 per cent in 2017, the highest level recorded in the history of the 4th Republic,” he said.
He said inflation on its part was above 25 percent, and the current interest rates range between 30 and 50 per cent.
The former President said the exchange rate, which was previously at 4.00 Ghana Cedis to the US dollar, has crossed the 15 Ghana Cedi threshold, and there appears to be no end in sight to the deterioration of the cedi.
“Despite this, the government remains unconcerned, unwilling to cut expenditures, and continues to spend more on creature comforts instead of investing in the transformational infrastructure that will propel this nation forward.”
Vice President Bawumia’s counter of Mahama’s position at the CEO Summit
At the 8th Ghana CEO Summit, Vice President Dr. Mahamudu Bawumia joined the debate remotely via the internet and counted former President Mahama’s position as the two engaged in a spirited exchange of ideas and policies.
The debate, a highlight of the summit, brought together two of Ghana’s prominent political figures to discuss critical issues affecting the Ghana’s economy and development.
Dr. Bawumia, known for his economic acumen, presented a case for the current administration’s policies, emphasising the strides made in digital transformation, financial inclusion, and infrastructural development.
He highlighted the government’s achievements in the various sectors of the economy, and the social intervention programmes that he said have positively impacted millions of Ghanaians.
In contrast, Mr Mahama critiqued the government’s performance, focusing on areas where he said more progress was needed.
He raised concerns about unemployment, the rising cost of living, and what he described as the administration’s failure to effectively manage public resources. Mahama proposed alternative strategies to address these issues, drawing on his experience as a former president.
The debate was a key event at the Ghana CEO Summit, which brings together business leaders, policymakers, and industry experts to discuss and shape the future of Ghana’s economy.
This year’s summit focused on fostering innovation, driving sustainable growth, and building resilient institutions.