Mahama's SONA: Declares Ghana back on track fuelled by resurgent economy

President John Dramani Mahama has declared that Ghana is on the rebound following years of economic challenges and outlined his administration’s twin agendas for national renewal and continental leadership in his ongoing State of the Nation address.

Addressing the Chief Justice, Members of Parliament, and the people of Ghana, President Mahama opened by reflecting on his decades of public service, including his previous tenure as President and his time as MP for Bole Bamboe. 

“My journey in public service, like that of our nation, has not followed a straight path. It has been marked by periods of steady progress, and then by setbacks and by determined recovery,” he said. “That pattern of resilience mirrors the national experience of our nation. And today, I stand before you to speak to another such defining moment, a moment in which our nation is on the rebound of national renewal and of restored hope.”

The President framed his address around the 69th Independence anniversary, set for March 6, 2026, under the theme Building Prosperity, Restoring Hope. He described the theme as more than ceremonial, calling it “the blueprint that guides our administration's vision and actions. It reflects where we have been. It acknowledges the difficulties we have endured, and confidently declares the direction in which we are headed.”

At the core of his vision are two interlinked agendas: the Resetting Ghana agenda, aimed at domestic economic stability and improved governance, and the Accra Reset, focused on continental leadership and African self-reliance.

“The resetting Ghana agenda is our national commitment to restore economic stability, rebuild public trust in our democracy, strengthen our institutions and deliver tangible improvements in the lives of ordinary Ghanaians,” Mahama said. “It is about turning the page on years of mismanagement and confronting our challenges with honesty and charting a new voice anchored in fiscal discipline, transparency and sustainable development.”

He emphasised that Ghana’s prosperity is inseparable from Africa’s progress. “The Accra reset…recognizes that Ghana's prosperity cannot be separated from Africa's progress…from dependence to self-reliance, from fragmentation to integration and from reactive postures to strategic leadership,” he stated. He urged African nations to “summon the courage to shape their own destiny, building genuine sovereignty across Africa.”

President Mahama cited Ghana’s role in hosting a landmark Health Sovereignty Summit in Accra, calling for African nations to take ownership of their health systems and economic resources. “Strong economies require healthy populations and health sovereignty is inseparable from economic sovereignty,” he said. He further outlined the need to dismantle trade bottlenecks and activate a continent-wide common market to harness Africa’s human capital and natural resources.

Turning to domestic affairs, the President hailed the government’s efforts to restore fiscal discipline after inheriting a heavily indebted economy. “We inherited an economy in severe crisis, burdened by unsustainable debt, high inflation, a rapidly depreciating currency and an escalating cost of living crisis,” he said. He recounted his administration’s decisive measures to halt economic haemorrhaging, tighten expenditure controls, and restructure debt obligations.

“These measures have begun to deliver some of the most remarkable economic outcomes in decades,” he said, noting that Ghana’s GDP rose from $83 billion in 2024 to $113 billion in 2025, placing the country among the top ten economies in Africa. Average GDP growth reached 6.1% in the first three quarters of 2025, while the fiscal deficit was cut to 3.1%, below the projected 3.8%. Mahama further highlighted a reduction in public debt by GH¢82.1 billion, lowering the debt-to-GDP ratio from 61.8% to 45.3%.

“Ghana is back. Ghana is working again, and Ghana is open for business. The fundamentals are improving, and the path to sustained acceleration is very clear to everyone,” the President said.

President Mahama also reaffirmed his administration’s commitment to discipline, transparency, and inclusive growth, stating that the Resetting Ghana and Accra Reset agendas are laying the foundation for a stronger, more resilient, and more prosperous Ghana. “Our nation is on the runway in takeoff mode, and you are all advised to fasten your seat belts,” he said.