ACCRA, 7 January 2021 – Ghanaian President Nana Akufo-Addo has unveiled his plans to invest about $17 billion (100 billion Ghana cedis) to revitalize the country’s economy.
In an address to parliament, Akufo-Addo said the funds will restore the economy to better health than before the new coronavirus pandemic hit and offer hope for the future.
“This program will anchor bright prospects for the medium-term and create better opportunities in all sectors,” President Akufo-Addo told parliament.
Ghana’s economic growth is expected to accelerate in 2021, after being hit hard in 2020 by the coronavirus pandemic.
FocusEconomics project that the Ghanaian economy will expand 4.8 percent in 2021, being o.2 percentage points from the forecast last month.
Growth is expected to rise slightly to 5.3 percent in 2022..
Akufo-Addo Inaugurated for Second Term
Meanwhile, Akufo –Addo called Thursday for unity.
He spoke during his inauguration and that of his running mate, vice-president-elect Mahamudu Bawumia.
The night before had turned ugly in the parliament as scuffles broke out between rival lawmakers, obliging soldiers to enter the parliament to break up the fighting.
“All I do will be for the commong good,” Akufo-Addo told attendees at his inauguration at Black Star Square in Accra.
The ceremony was attended by over a dozen presidents from West and Central Africa.
Akufo-Addo won last month’s presidential ballot with 51.59 percent of the votes cast, ahead of former Ghanaian head of state John Mahama.
Five people were killed in violence that followed the election, a very rare occurrence in elections in modern Ghana.
Mahama’s party has gone before the Supreme Court to contest the election, alleging fraud evidence of which it has been very stingy sharing with anyone outside of close aides and top party officials.
The scuffle started after a member of parliament from President Akufo-Addo’s party snatched a ballot paper during the nighttime election of the speaker of parliament.
The December 7, 2020 election left a hung parliament, without a dominant party, meaning that every top parliamentary position would have to be fought over by Ghana’s biggest two political parties.