Berliner Boersenzeitung - Ghana's ex-president Mahama returns with election win

Following Saturday's election, New Patriotic Party candidate Vice President Mahamudu Bawumia on Sunday conceded Ghanaians wanted change after he failed to shake off widespread frustration over high costs of living.

His defeat ended eight years in power for the NPP under President Nana Akufo-Addo, whose last term was marked by the west African state's worst economic turmoil in years, high inflation and a debt default.

For opposition National Democratic Congress party's Mahama, president from 2012-2017, it was his third attempt to reclaim the top post after falling short in 2016 and 2020 elections.

"Former president Mahama has won the presidential election decisively," Bawumia told a press conference.

Mahama's NDC also won the parliament elections, Bawumia said, referring to the NPP's own internal collation of election results.

"The people of Ghana have spoken, the people have voted for change at this time and we respect it with all humility," he said.

The speedy concession came as official vote tallies were still arriving. Electoral authorities have yet to announce the results for the presidential and parliament ballots.

Blaring horns and whistles and waving the party's green, white and red flags, Mahama supporters took the streets to celebrate outside the party campaign office in the capital Accra.

"They said he can't come back, and he has come. The nation builder is back to build our Ghana for us," said trader and Mahama supporter Leyla Alhassan enjoying the celebrations.

Mahama has yet to speak publicly. But on his X account, Mahama confirmed he received Bawumia's congratulatory call over his "emphatic victory".

The US embassy in Accra also applauded a "successful election that reflects the will of the Ghanaian people."

"The United States looks forward to continuing our strong partnerships under" Mahama, it said on X.

- Economy dominated -

Ghana's economic woes dominated the election, after the continent's top gold producer and world's second cacao exporter went through a crisis of default and currency devaluation, ending with a $3 billion IMF bailout.

Earlier, NDC spokesman Sammy Gyamfi told reporters the party's internal review of results showed Mahama won 56.3 percent of the vote against 41.3 percent for Bawumia.

Political parties had agents at polling stations to observe and tally the initial vote counts before the ballots were sent for official collation by the election commission.

The commission had said official results were likely due by Tuesday.

With a history of democratic stability, Ghana's two main parties, the NPP and NDC, have alternated in power equally since the return to multi-party politics in 1992.

Under the slogan "Break the 8" -- a reference to two terms in power -- Bawumia had sought to lead the NPP to an unprecedented third term. But he struggled to break away from criticism of Akufo-Addo's economic record.

Though inflation slowed from more than 50 percent to around 23 percent, and other macro-economic indicators are stabilising, economic struggles were still a clear election issue for many.

That frustration opened the way for a comeback from Mahama, who came to the presidency in 2012 when he was serving as vice president and then President John Atta Mills died in office.

During campaigning this year, the former president also faced criticism from those who remember his government's own financial problems especially the massive power cuts that marked his time in office.

(O.Joost--BBZ)