President Mahama meets Alex Soros of the Open Society Foundations

President John Dramani Mahama held a highly productive meeting on Friday with Mr. Alex Soros, Chairman of the Board of Directors of the Open Society Foundations (OSF).

The discussion centred on Ghana’s notable progress in economic recovery, democratic governance, and regional stability.

President Mahama took the opportunity to brief Mr. Soros on the key policy measures driving Ghana’s economic revival and the notable progress being made.

He elaborated on the government’s ‘Reset Agenda’ aimed at fostering a positive national mindset, ongoing efforts to strengthen accountability institutions, and recent developments within the ECOWAS sub-region.

Ghana: A Beacon of Democracy.

President Mahama reiterated Ghana’s unwavering commitment to upholding the values of democracy, respect for human rights, and the fundamental freedoms of its citizenry.

He noted Ghana’s stellar reputation for democratic governance, marked by peaceful transitions under its 33-year-old Fourth Republican Constitution.

“We’ve had nine elections, all of which have been successful. And we’ve experienced several peaceful changes of government from one party to another, all of which have occurred smoothly.”

On the economic front, President Mahama stated that Ghana’s economy is recovering rapidly, a direct result of bold fiscal and monetary policies underpinned by robust governance principles. He noted the appreciation of the Ghana Cedi by approximately 42% and a sharp decline in the debt-to-GDP ratio, with the government targeting single-digit inflation in the coming months.

The President acknowledged that investor confidence had waned in the past due to governance challenges and weakened institutions. However, he reassured Mr. Soros that his administration is committed to non-interference in corruption-related cases and has instituted strict disciplinary measures for all appointees.

“There was a lot of corruption and a lack of accountability. So, we came in with a comprehensive programme to strengthen anti-corruption institutions,” President Mahama explained, referencing the “Operation Recover All the Loot (ORAL),” a major initiative to recover state assets.

“You will continue to hear of prosecutions and other measures against individuals who have mismanaged public resources, as we steadfastly pursue accountability.”

Addressing the delicate relations with the three Sahelian countries – Mali, Burkina Faso, and Niger – President Mahama assured Mr. Soros of positive progress in ongoing efforts to reunite the sub-region. He referred to visits to the three countries to establish channels for continuous communication and dialogue.

“We held an ECOWAS meeting barely three weeks ago, and happily, the whole mood has changed. There is now a clear appetite for rapprochement between ECOWAS and the three countries,” he said.

“Discussions are ongoing between the ECOWAS Secretariat and these nations. In the meantime, we all agreed to prioritise the free movement of people and goods across our borders and encourage transit trade.”

On his part, Mr. Alex Soros congratulated President Mahama on his re-election victory and commended his leadership. He explained that his visit to Ghana was part of activities marking the 50th anniversary of ECOWAS.

He noted that the Open Society Foundations in Africa have historically championed ECOWAS integration, celebrating significant achievements such as visa-free travel.

Mr. Soros, an investor and philanthropist, expressed his foundation’s interest in exploring partnerships and providing support for further regional integration efforts. Besides chairing the OSF Board, he also sits on the investment committee for the Soros Fund Management.

Distributed by APO Group on behalf of The Presidency, Republic of Ghana.