A Ghanaian legal practitioner based in the UK, Senyo Le Grand-McKenzie, has commended the President John Mahama-led administration for what he describes as a swift economic turnaround, barely six months after taking office.
The Ghana cedi has appreciated by 43 percent against the US dollar this year, ranking as the best-performing currency in Africa.
This marks a sharp reversal from 2022, when it was recorded as the worst-performing currency in the world.
The strong performance of the cedi has helped bring down Ghana’s annual consumer inflation for the sixth consecutive month, reaching 13.7% in June 2025—the lowest level since December 2021.
Speaking ahead of the 2025 Mid-Year Budget presentation, Senyo Le Grand-McKenzie said that prior to the 2024 elections, Ghana’s economy was on the brink of collapse, and life had become unbearable for many citizens.
However, he believes that recent economic interventions have significantly improved both investor and public confidence, locally and internationally.
He added that the international community now views Ghana as a stable and attractive destination for investment and collaboration.
“I would say comparatively, the economy before we were here, during the campaign time, it was really at the verge of collapsing. Ghana was really going the path of being collapsed completely in terms of the economy.”
“Life for almost everybody in the country was quite unbearable. But soon after the election, the current regime has put a lot of things in place, especially the policies that have actually turned the economy around”
He added, “Instead of the downturn, the economy has actually shot up, and everybody in the diaspora is really, really amazed. When you speak to 10 out of 11 people, they’re all happy. They’ll tell you the trajectory the new government is going”.
The founder and senior partner of Elite Law Center, London, also emphasized the renewed optimism within the Ghanaian diaspora.
Despite the progress, Senyo Le Grand-McKenzie noted that high port charges remain a major concern for both diasporans and local businesses. He welcomed President Mahama’s directive for all non-parliamentary approved port charges to be reviewed and submitted to Parliament for scrutiny.
He, however, believes that more must be done to ease the burden on importers and small businesses, warning that excessive charges could have ripple effects throughout the economy.
“The port charges, just too much for the ordinary Ghanaian businesses because it becomes a spiral that affects everybody in the economy. When port charges are very high, local businesses just push prices up, which is not good for the economy and the people of Ghana.”
“Now that the president has actually made this bold statement, I hope it’s not just going to be a commentary being run by the President because I know the president at this time is very prepared in terms of action and I know he’s going to move this straight into action and help the people of Ghana” Senyo Le Grand -McKenzie said.
Source : Starrfm.com.gh
