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Ghana: Supreme Court could nullify election vote and overturn Mahama presidency – setting a precendent for Africa
The case comes as Ghana’s US$39 billion economy is powering ahead, growing 8 percent last year, after oil production began at Tullow’s Jubilee field in 2010. It is Africa’s number two gold miner and the world’s second-largest cocoa producer.
Many investors, lured to Ghana by a reputation for stable democracy, appear sanguine about uncertainties ahead, and see the court’s ruling as less important than how the losing side reacts.
The case has done little to dampen confidence in the Ghana stock exchange, which has jumped 55.6 percent this year.
“If those parties accept the ruling of the Supreme Court, we think it will rather strengthen the confidence of investors in our market, both local and foreign, with some kind of democratic dividend,” said Daniel Tetteh, executive director at Databank.
If the court rules for the opposition, it could declare the election invalid and order a runoff vote. Some legal experts say it could even anoint Akufo-Addo winner, while others argue it does not have the power to do so.
“When the court in Ghana rules … it will invariably have a ripple effect on other African elections,” said Christopher Fomunyoh, senior associate for Africa at the National Democratic Institute for International Affairs in Washington.
Both sides say they will accept the court’s judgment.
