Running for presidency in Ghana now costs $200m – CDD-Ghana

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The Ghana Centre for Democratic Development (CDD-Ghana) has raised alarm over the escalating cost of contesting presidential elections, warning that democracy risks being captured by the wealthy elite.

At an Open Society forum in Accra, the think tank’s Executive Director, Professor H. Kwasi Prempeh, revealed that it now requires an estimated $200 million to mount a successful presidential campaign in Ghana.

He argued that such financial demands make it nearly impossible for capable but less resourced leaders to compete.

“You now need about $200 million to win a presidential contest. How many of you can ever realistically be in that category? Even at the parliamentary and primary levels, the barriers are already far too high for many,” Prof Prempeh observed.

He cautioned that if politics becomes the exclusive domain of the wealthy and well-connected, Ghana’s democratic and developmental aspirations would be severely undermined.

“We cannot have that kind of democracy and expect it to be developmental. That is why campaign financing and regulation of internal party democracy must become urgent national priorities,” he emphasised.

 

Source: Myjoyonline.com


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Kennedy Mornah is an Award Winning Ghanaian Journalist with over two decades of experience in the Ghanaian Media landscape spanning the electronic, print and digital media. He is a Media Consultant, a Corporate MC, Radio and TV Host, Founder and Publisher of the Maritime and Transport Digest Newspaper, Businessman, a Go getter and an optimist. He has worked for renowned media organizations including Diamond Fm in Tamale, Luv Fm in Kumasi, Oman Fm in Accra and Starr Fm in Accra In 2017 he received the Reporter of the Year Award at the Ghana Shippers Awards in Accra, Ghana.

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