President John Mahama’s return to office has inspired a level of confidence that feels markedly different from his first term, according to IMANI Africa President Franklin Cudjoe.

Speaking on Joy News’ PM Express on Wednesday, he said the early signals from the new administration point to discipline, restraint, and guided leadership, a combination he believes is shaping public goodwill and market confidence.

“I think the second coming of John Mahama has been phenomenal,” he said. “I have been looking at the data clearly, and I was wondering, how did you get here?”

Mr Cudjoe said the answer lies in what he described as “guided leadership,” underpinned by discipline at the top of government.

He pointed to the posture adopted by Finance Minister Dr Cassiel Ato Forson as central to this renewed confidence.

“If I look at the fact that the finance minister suggested to us, I just started out saying that, look, I’m not going to toe a particular line where I’ve just been spending money without the corresponding value in return,” he said.

According to him, that message alone was reassuring. “It makes you feel comfortable that your money is in safe hands, that the purse will be protected,” he added.

Mr Cudjoe said the budget presentation and subsequent policy choices have reinforced that sense of fiscal caution.

“That conversation that Dr Ato Forson had with us, and I said conversation because he presented his plans or the government’s plans through a budget, and since then, we’ve seen almost every decision that has been made is somehow related to the fact that there must be fiscal medicine,” he said.

He argued that discipline, rather than political messaging, explains the goodwill the government is currently enjoying.

“When somebody asks the question, what did the government do to gather this goodwill, I think the word that actually is used was this, the word discipline is very important,” he said.

“You are not disciplined. You just be a spendthrift and not realise you are wasting money.” For Mr Cudjoe, the contrast with recent years is stark.

“So for me, I think that the first year has been phenomenal,” he said.

He acknowledged that some policy decisions taken under the previous NPP administration also played a role in stabilising the economy.

“I think the NPP, some of the investments they made, somehow, in terms of the decisions around the debt restructuring and all that, also sort of help,” he said.

Still, he insisted the current confidence is largely tied to the team assembled by the NDC.

“But largely we should give credit to the fact that the pair of hands that the NDC has put together, from the presidency to Dr Ato Forson, gives you a certain sense that things are being organised properly,” he said.

Despite the optimism, Mr Cudjoe warned that the bigger test lies ahead. “So for me, look, I seriously think this part is good,” he said. “The problem is about sustainability.”

He cautioned that Ghana’s reliance on commodities remains a structural risk.

“I think sustainability is very important when you are dealing with commodities,” he said. “If the commodity boom obviously recedes, then clearly you’re going to be in trouble.”