This report does not constitute a rating action. MADRID (S&P Global Ratings) Dec. 10, 2024--Ghana's electoral commission has confirmed that John Dramani Mahama, the opposition candidate for the National Democratic Congress (NDC), won last Sunday's elections and will take office on Jan. 7, 2025. Mr. Mahama was previously President of Ghana in 2014-2017. The NDC will wield a comfortable 46-seat majority in Ghana's 276-member parliament, giving Mr. Mahama a strong mandate to boost employment and growth while addressing households' concerns about the rising cost of living. Despite recent reforms, levels of taxation in Ghana are still modest; general government revenue stands at about 16% of GDP. Nevertheless, the incoming president has expressed a desire to rebalance fiscal consolidation--shifting toward expenditure
