Ideally, in Ghana, one must always obey their masters, especially in politics. But at what cost? This reflection is crucial as we navigate the future of the NPP and Dr. Mahamudu Bawumia.

The only thing worse than the painful defeat of the 2024 elections would be the party’s decision to abandon Bawumia in favour of a new candidate in 2028. That would not only fracture the party’s base but also risk losing the economic credibility he has built over the years.

Before joining politics, Bawumia was a remarkable economist. His work in monetary policy, financial regulation, and digital transformation stood out. He wasn’t just another politician, he was a technocrat with the knowledge and skills Ghana needed. But politics has a way of transforming personalities. Slowly but surely, the system moulded him into a political figure, forcing him into roles beyond his core expertise.

Bawumia was brought into the political space to help the government implement economic recovery and growth strategies. However, Ghana’s economy wasn’t safeguarded against global political and financial shocks, making his job significantly harder. COVID-19, the Russia-Ukraine war, and supply chain crises created economic disruptions that even the best economists struggled to navigate. Yet, political opponents weaponized these economic challenges against him, shifting blame solely onto his shoulders.

Rather than allowing him to function in his natural role as an economic strategist, the political machinery forced him into campaign rhetoric that diluted his true strength. The irony is that his economic expertise remains one of the party’s strongest assets, yet the NPP risks sidelining him in 2028, an error that could cost them dearly.

There’s no denying that the NPP is at a crossroads. The fractures within the party, the growing discontent among its base, and the lingering effects of the 2024 defeat create a dangerous mix. If Bawumia is sidelined, the party risks alienating key support blocs, particularly in the Northern and Zongo communities. His presence in the 2024 race attracted significant backing from these areas, and discarding him now could shatter that loyalty.

The mistake of presenting a new candidate in 2028 would be catastrophic. Not only would it create division within the party, but it would also hand the opposition a narrative that the NPP itself has lost faith in Bawumia. The NDC will use this against them, painting the party as unstable and directionless.

The Global Economic Reality & Ghana’s Need for Bawumia

The economic challenges Ghana faces aren’t unique. Many nations suffered due to external factors beyond their control. However, Ghana still needs leadership that understands the complexities of global finance and economic restructuring. Bawumia’s experience, both as an economist and as a former Vice President, gives him a strategic edge. If he is allowed to function without political interference, he could help reshape the economic conversation, especially from the opposition.

The NPP should recognize that Ghanaian elections aren’t won solely on achievements, they’re won based on how well a party communicates the failures of the incumbent. If Bawumia spends the next four years in opposition repositioning himself as an economic visionary, he could stage a formidable comeback. But that requires the party’s full support.

NPP’s biggest challenge isn’t just who leads them into the next election, it’s whether they will learn from past mistakes or repeat them. The party must make a strategic choice: will they discard one of their most recognizable figures in favour of an untested candidate, or will they allow Bawumia to refine his vision and return stronger?

Throwing away a candidate with national recognition and grassroots support would be political suicide. Instead of discarding him, the party should encourage him to spend the next four years redefining himself, focusing on economic solutions, and preparing for a stronger comeback.

Because if the NPP ignores this reality and fractures its base, history will not be kind to them. The base will crack, and the rest will be history.

National dialogue needed to review public sector recruitments – Lamisi Akanvariba

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The Minister of State nominee for Public Sector Reform, Lydia Lamisi Akanvariba says she would “perfectly” perform at the Ministry of Health should President John Mahama reassign her to that sector.

In response to a question from the Minority leader in Parliament, Alexander Afenyo Markin, during her vetting on Monday, February 24, about whether she would consider moving from her current ministry to the health ministry, she said, “I will still work perfectly at the ministry because I still have the experience.”

Lydia Akanvariba is a trained nurse and Member of Parliament (MP) for the Tempane constituency in the Upper East Region.

She has faced criticism from private legal practitioner Martin Kpebu, who questioned her experience and suitability to lead the Ministry of Public Sector Reforms following her nomination.

Read also: Lydia Lamisi is not the best person to reform Ghana’s public sector – Martin Kpebu

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Legal expert Andrew Appiah-Danquah has highlighted how the then former President John Dramani Mahama took strategic steps to strengthen now-defunct Capital Bank, while the immediate past President Nana Akufo-Addo’s administration pursued policies that ultimately led to its collapse.

According to Appiah-Danquah, Mahama’s government approved a GH¢620 million commercial loan to Capital Bank secured by a GH¢380 million prudential fund injection.

In an analysis sighted by GhanaWeb Business, Appiah-Danquah mentioned that this move was part of a broader strategy to stabilize indigenous financial institutions rather than dismantling them.

Additionally, he pointed out that a structured repayment plan was introduced, allowing the bank to make monthly payments of GH¢14 million over two years – an approach that enabled Capital Bank to repay over GH¢336 million before the change in government.

“However, when Akufo-Addo assumed office in 2017, his administration abandoned this structured recovery approach. Instead, finance minister Ken Ofori-Atta and BoG Governor Dr. Ernest Addison demanded immediate repayment of the entire loan, a move that was a deliberate effort to engineer the bank’s failure,” Appiah-Danquah stated.

The legal expert also noted that all attempts by Capital Bank to renegotiate the terms, including reducing interest rates, waiving monthly interest payments, or converting the debt into equity were rejected without justification.

“The Akufo-Addo government’s financial sector clean-up resulted in the forced liquidation of Capital Bank, with its assets transferred to Ghana Commercial Bank (GCB). This decision led to job losses, business disruptions, and the loss of a thriving Ghanaian enterprise. Instead of supporting these financial institutions, the government used regulation as a weapon to eliminate them, spending GH¢26 billion on the clean-up, an amount far greater than what was needed to support struggling banks,” he wrote.

Based on his analysis of the banking sector clean-up, Appiah-Danquah argued that the John Mahama administration prioritized economic stability and the survival of local enterprises, while Akufo-Addo’s policies were punitive and destructive.

William Ato Essien, the founder of Capital Bank is said to have built the institution from a microfinance company into a full-fledged bank that played a crucial role in supporting Ghana’s Micro, Small, and Medium Enterprises (MSMEs).

However, following the clean-up exercise conducted by the Bank of Ghana between 2017 and 2019, William Ato Essien was convicted for his role in the collapse of Capital Bank.

He was found guilty of financial crimes related to the mismanagement of funds, including the embezzlement of GH¢620 million in liquidity support provided by the Bank of Ghana to Capital Bank.

After years of legal battles, Ato Essien was sentenced in December 2023 to serve a 15-year prison term after failing to comply with the repayment terms of an agreement he reached with the state.

MA

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