Economist and professor of finance, Godfred Alufar Bokpin, has raised serious concerns about the glaring absence of anti-corruption measures in President John Mahama’s proposed 8-point economic reset plan, warning that this critical omission could undermine Ghana’s long-term recovery efforts.
“During the president’s inauguration, he highlighted four priority areas, including fighting corruption. But in this 8-point agenda, corruption isn’t sufficiently highlighted. This oversight is concerning given how crucial transparency is for sustainable growth,” he observed on Joy FM’s Super Morning Show on Tuesday, May 27.
[embedded content]The professor’s critique comes as Ghana ranks 72nd out of 180 countries on Transparency International’s 2023 Corruption Perception Index, having scored just 43/100 – below the sub-Saharan African average of 44.
Several scandals have rocked the nation, including GHS12.5 billion lost through procurement irregularities from 2020 to 2023, while Civil Society Organisations (CSOs) like IMANI Africa pointed out that 37% of all government contracts show signs of over-invoicing.
UNODC estimates that corruption costs Ghana $3 billion annually, while a GSS survey in 2023 showed 72% of businesses citing graft as a top constraint.
From Afrobarometer reports, only 9% of Ghanaians trust the government’s anti-graft efforts.
[embedded content]Responding to the concerns, Deputy Finance Minister Thomas Ampem Nyarko said that the president’s policy framework is not only robust but also flexible enough to accommodate additional national priorities, including the critical issue of corruption.
“I want to assure everyone that the eight points President Mahama listed can be expanded to include corruption and other key concerns. We’ve made strong statements in the past about our commitment to fighting corruption. So, I do not believe that its omission here suggests the President is any less committed. He has made that clear — and he stands by it,” he said.
He added that President Mahama’s stance on Public Financial Management (PFM) serves as a direct signal of the administration’s broader intent to tackle corruption head-on.
“PFM, by its nature, speaks to our resolve to fight corruption. Yes, people expect the President to address everything, but if we tried to capture every issue, the list could easily grow to over a hundred points. What matters is that these pillars are expandable — they can evolve to reflect the concerns of our citizens,” he added.
“We want to assure Professor Bokpin and all others with genuine concerns that exiting the IMF programme will not take us back into financial mismanagement. We are determined not to return to the IMF.”
“President Mahama has been consistent on this point — this must be the last time Ghana turns to the IMF. We can be disciplined on our own. And we will be,” he concluded.
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