Economist and Professor of Finance at the University of Ghana, Godfred Bokpin, says how the country manages its affairs, particularly the transition period will be crucial for growth or further economic decline.

According to Prof Bokpin, the new administration will face difficult challenges regarding government formation during the transition period from January to March 2025, a period he described as "very critical" for Ghana's success.

“The first three months will be very critical, and that is also the transition period. How they manage the transition will be crucial,” he maintained, explaining that this is a period Ghana has not managed too well in recent instances.

Ghana is set to go to the polls on 7th December this year to elect members of parliament and a president to form the seventh government of the Fourth Republic.

“Since 1992, whenever there has been a regime change, chaos takes over, and that doesn’t help improve the investment climate. We need to manage the transition efficiently and smoothly, regardless of which party wins the election,” he added, saying there have been too many instances since Ghana transitioned to democracy where the manner of transition management has not helped the country sufficiently.

Read also: The next government will face significant challenges – Prof Bokpin predicts

Speaking on Joy FM’s Super Morning Show on Wednesday, November 20, Prof. Bokpin further emphasised that the future government should prioritise agriculture to improve the country's fortunes.

He explained that if the agricultural sector receives proper attention, it will not only ensure food security but create jobs for citizens and help stabilise the cost of living.

He counselled that effective leadership is critical in securing Ghana's fortunes and that must be exhibited by the next administration. "We need to ask ourselves where do we start from, it is the leadership, effective leadership" he said.

Prof. Bokpin also stressed that inflation issues must also be tackled as they have a high tendency of improving on the cost of living.

"If you are able to bring down food prices, inflation down significantly, you will actually be creating a direct relief for Ghanaians", he noted.