General

Ghana, the Heart of Africa, has long been celebrated for its stable political environment and progressive democratic governance. The nation’s commitment to conducting regular, peaceful presidential elections stands as a beacon for other developing countries seeking to strengthen their democratic institutions. In 2016, Ghana witnessed a notable presidential election that led to a power transfer. The New Patriotic Party (NPP), led by Nana Akufo-Addo, succeeded the National Democratic Congress (NDC), marking a pivotal shift in the nation’s political landscape. As the country gears up for the next presidential election in 2024, the track record of the ruling government and the competing policies and political agenda of the competing parties are capturing attention. But that which is also fascinating is the transformation of the electorate. An entirely new demographic will cast their votes in the forthcoming elections. The group comprised individuals aged between 10-17 during the 2016 elections who were ineligible to vote then but are now of voting age. This could dramatically change the face of the electorate. This change ushers in what I call the ‘TikTok Electorate’, signifying the influential role that social media platforms like TikTok play in shaping political perspectives among this young demographic. Alongside, Ghana’s Free Senior High School (Free SHS) policy, initiated in 2017, has significantly improved literacy rates among the youth (World Bank, 2021). As a result, this newly minted electorate is more educated and politically informed, making them a potent force that could shape the future of Ghana’s politics and national economy. The Rise of the New TikTok Electorate: A Generational Shift in Power In 2024, Ghana will witness a significant change in its electoral landscape. Young Ghanaians aged between 10 and 17 during the 2016 elections will exercise their right to vote for the first time. This group, aged between 18 and 25, represents a vital voting demographic that could reshape the country’s political discourse and outcomes. According to data from the Ghana Statistical Service, the under-15 population represented approximately 38% of Ghana’s total population in 2010 (Ghana Statistical Service, 2012). This indicates that a sizable number of young people, previously ineligible to vote, will have come of age by the 2024 elections. Their incorporation into the electorate represents a substantial demographic shift likely to have profound implications for the nation’s politics. Generation Z, as this cohort is often referred to, is characterised by unique attributes, attitudes, and experiences that distinguish them from their predecessors. They have been shaped by significant social, economic, and technological transformations. Most notably, they are digital natives, growing up with technology and social media, which shape their perceptions, communication, and interaction with the world. This emerging electorate is also expected to be more informed and engaged, thanks partly to increased accessibility to information through the internet and social media platforms. They have a wealth of information, knowledge, and perspectives on national and global issues, making them more aware and potentially more critical of political narratives and promises. However, it’s important to note that while this demographic shift presents an opportunity for political parties, it also poses unique challenges. To effectively engage with these first-time voters, parties must understand their values, aspirations, and concerns and demonstrate a commitment to addressing them in their political agenda. Failing to do so could risk alienation, indifference, or disillusionment among this crucial electorate. The ‘TikTok Electorate’: Harnessing the Power of Social Media As we dive deeper into the characteristics of Ghana’s new electorate, I would like to highlight the term I’d be using to capture this generational shift – the ‘TikTok Electorate’. This term refers to the group of first-time voters who are digital natives and are heavily influenced by social media platforms, including but not limited to TikTok. TikTok, a social media platform that allows users to create and share short videos, has gained immense popularity worldwide, especially among the younger generation. As of 2022, it had over 1 billion active users globally. TikTok’s influence extends beyond entertainment, with the platform becoming a formidable space for political discourse, information dissemination, and mobilisation. In countries like the United States of America, we’ve seen the power of TikTok as a political tool during the 2020 Presidential Elections. TikTok was used for sharing political opinions and organising mass political actions, such as sign-ups for campaign rallies. Social media use has changed how political campaigns are conducted, adding a new layer to the political process. In Ghana, the impact of TikTok and social media, in general, is still unfolding. However, with high smartphone penetration and increasing internet usage, these platforms will likely significantly influence the political landscape now or shortly. The emerging ‘TikTok Electorate’ will likely expect more from their political leaders and parties – greater transparency, engagement, and a genuine understanding of their issues and aspirations. The key for political parties is not just to adapt to this new medium but also to understand and respond to the changing dynamics of political engagement it brings. However, it’s important to note that while TikTok can be a potent tool for political mobilisation and engagement, it also has its pitfalls. Misinformation and political polarisation are notable concerns that must be addressed to ensure a healthy political discourse on these platforms. The Impact of Literacy Rates and Education: Fostering Political Engagement Another crucial factor to consider in Ghana’s changing political landscape is the implementation of the Free SHS (Senior High School) policy in 2017. This policy, aimed at eliminating financial barriers to education at the secondary level, has had significant implications on literacy rates in the country. According to the Ghana Statistical Service, literacy among 15-24 year-olds rose to almost 90% in 2020. The increase in literacy, spurred partly by the Free SHS policy, has opened avenues for young Ghanaians to be more informed and engaged with political processes. This change might well translate into an electorate that is larger and more discerning. Literature on political science emphasises that education and literacy rates can significantly influence political engagement and voting decisions. In the Ghanaian context, a

The interconnectedness of economic elements can often create a domino effect, where a ripple in one sector can trigger a tidal wave in another. This is notably observed in the relationship between inflation and poverty. Recent events in Ghana provide a stark illustration of this phenomenon. The country, celebrated for reducing its poverty rate by over half from 52.6% in 1991 to 21.4% in 2012, has faced economic challenges. The World Bank’s 7th Ghana Economic Update revealed that an unexpected price surge in 2022 plunged close to 850,000 Ghanaians back into poverty, effectively undoing years of economic progress. Understanding Inflation Inflation refers to the rate at which the general level of prices for goods and services is rising. It decreases purchasing power – each currency unit buys fewer goods and services. Inflation is quantified as an annual percentage increase, and as the inflation rate rises, the currency’s purchasing power falls. The most common measures of inflation are the Consumer Price Index (CPI) and the Wholesale Price Index (WPI). Inflation has a direct impact on the economy. Moderate inflation is expected in a growing economy. However, high inflation can be harmful, causing uncertainty and discouraging investment and savings. Inflation can severely disrupt economic and social order at very high levels, as witnessed in hyperinflation scenarios like Zimbabwe in the late 2000s. The Situation in Ghana Ghana’s recent economic woes can be attributed to a variety of factors. The World Bank report pinpoints an increase in prices throughout 2022, resulting in a loss of average purchasing power by 15.7%. This situation was felt across all income levels, with the poorest 20% of the population losing 16.1% of their purchasing power and the wealthiest 20% losing 15.5%. Everyone felt it across the board. Notably, these losses intensified towards the end of the year as inflation surged. A substantial contribution to this inflationary situation stemmed from Ghana’s energy sector. Challenges such as electricity underpricing, the poor performance of distribution companies, and excess power generation and gas supply contracts have led to a buildup of sectoral arrears totalling about $2.3 billion by the end of 2022. Without corrective action, these arrears could exceed $8 billion by 2025. Even with the government’s attempt to increase electricity tariffs, exchange rate depreciation eroded the gains as most generation costs are incurred in US dollars. We need to understand that combating Ghana’s inflation is an uphill battle. Link Between Inflation and Poverty The effect of inflation on poverty is multifaceted. First, inflation can cause wage stagnation. In Ghana, the minimum wage increased by only 10% in 2022, even as the general price levels rose by over 53%, meaning workers’ real incomes dropped by over 43%. This disparity implies that income can’t keep up with the rising cost of living, pushing people towards or further into poverty. Secondly, inflation leads to higher costs of goods and services. Any price increase can be significant for low-income households already stretching every cedi. The rise in costs can force families to forgo necessary expenses, like healthcare or education, perpetuating a cycle of poverty. Lastly, inflation can wipe out savings. Many people, especially those living in poverty, don’t have the luxury of investing in inflation-protected assets. If they have them, their savings are often in cash or cash-equivalent assets whose value is eroded by inflation. This problem was highlighted in Ghana, where rising inflation caused households to deplete their savings or sell assets to meet their needs. In the case of Ghana, inflation also led to a regressive effect on power tariffs. The necessity of fiscal sustainability led to a significant increase in electricity tariffs, with the most considerable impact felt by those consuming between 30 and 200 kWh per month. This burden was particularly heavy for the poorest households, who consume nearly 70 kWh per month. This situation was exacerbated by the depreciation of the cedi, which drove up prices of imported goods and services and increased pressure on domestic substitutes’ prices. Impact of Inflation on Ghana’s Economy The repercussions of inflation are not restricted to individual households but extend to the macroeconomic level, disrupting the economic equilibrium. For Ghana, the surge in inflation in 2022 delivered a blow to the country’s economic growth and amplified existing fiscal vulnerabilities. The Ghanaian cedi faced significant depreciation, which amplified the rate of inflation. Let me explain – when a country’s currency depreciates against others, the prices of imported goods increase. The World Bank report acknowledges this, stating that the depreciation of the cedi has contributed to inflation by driving up the prices of imported goods and services and putting pressure on domestic substitutes’ prices. It’s crucial to remember that Ghana, like many developing economies, heavily relies on imports for consumer and capital goods. As a result, currency depreciation led to a dramatic increase in the prices of these imports. But that’s not all. The depreciation also impacted the domestic production sector, making imported inputs more expensive. In a knock-on effect, the prices of locally produced goods rose, adding to the inflationary pressure.  Moreover, the report noted that many energy sector costs are incurred in US dollars. This means that as the cedi depreciated, the cost of maintaining the energy sector, crucial for any functioning economy, escalated, causing an additional fiscal burden. The government, striving to compensate for this, was forced to increase electricity tariffs, which led to higher living costs for households and, consequently, increased poverty levels. Strategies to Mitigate Inflation Mitigating inflation, particularly in a complex scenario like Ghana’s, requires careful economic planning. Central to any plan should be strategies that address the root causes of inflation while ensuring that these measures do not disproportionately impact the most vulnerable groups in society. Here, both government and financial institutions have significant roles to play. The government could start by strengthening the energy sector. By eliminating inefficiencies and focusing on sustainability, they can reduce the budgetary support required for this sector. The World Bank report mentions that the Energy Sector Recovery Program (ESRP), initiated by

In the ever-evolving tech industry, some trailblazers transcend conventional boundaries and carve their paths to unprecedented success. One such exceptional individual is Otema Yirenkyi, Area Vice President for Salesforce, whose unwavering pursuit of excellence has propelled her to soaring heights. As the host of the ‘Entrepreneur In You’ Video Podcast Series and also an ardent admirer of Otema Yirenkyi’s awe-inspiring journey, I had the honour of witnessing the unfolding chapters of her extraordinary adventure in the tech industry as we discussed various subjects matters on one of the episodes this month of May. Within our discussions, I had the opportunity to delve into the depths of Otema’s visionary mindset and uncover the wellspring of her purpose. The feature was specially designed out of the many to empower you with the full potential for you to recognise the boundaries you have and, most accurately, the ones you do not have. First, and little background here: I watched this podcast episode titled “Techforce in Africa: The Not-So Glass Ceiling, Discussing Women in Tech”. On this Podcast, Otema Yirenkyi was asked about the best career advice she’s ever received. She said, “there are no limits… there are no limits.” That blew my mind, the question of how she came about that. This inspired me to invite her for a feature on the ‘Entrepreneur In You’ Video Podcast Series to share with the world and with you her empowering mantra: “There Are No Limits”. This profound declaration has become the catalyst behind her remarkable career. On the podcast, we delve deep into Otema’s extraordinary journey, exploring the strategies she employed to cultivate a mindset of boundless potential and the profound impact it has had on her trajectory in the tech industry. I had the opportunity to delve into Otema Yirenkyi’s multifaceted personality and explore the facets that make her a “versatilist”. Otema’s choice of “versatilist” to describe herself resonated, encapsulating her ability to navigate various realms and excel in diverse pursuits. Being a versatilist means embodying versatility and having a wide range of experiences. Otema’s journey exemplifies this in every aspect. Her passion for the tech industry has propelled her to explore different facets of the field. In addition, Otema’s ability to seamlessly transition between roles and adapt to new challenges showcases her innate versatility, constantly pushing the boundaries of her capabilities. During our discussion, Otema candidly revealed her introverted nature, which may surprise those who witness her dynamic presence and extensive accomplishments. Her introverted nature is a source of strength, allowing her to delve into her thoughts, tap into her creativity, and emerge with groundbreaking ideas. When I inquired about her favourite time of the day, Otema’s response highlighted her commitment to productivity and seizing the early hours. Mornings serve as her launching pad for the day, providing her with a sense of purpose and an opportunity to set the tone for what lies ahead. Otema’s affinity for mornings reflects her drive to make the most of each day, as she understands the significance of starting early and harnessing the productive energy that the early hours bring. Amidst our conversation, Otema graciously shared one of her favourite quotes that point to her unwavering belief in the power of possibilities. “I Dwell In Possibility” by Emily Dickinson resonates deeply with her, serving as a guide throughout her journey. Otema embarked on a reflective journey of self-discovery prompted by a significant moment of introspection. She questioned her chosen career path, realising that her initial desire to pursue law had been driven by external pressures rather than genuine passion. Engaging in deep self-reflection, she confronted the fundamental question: “What defines me?” This process allowed her to clarify her ambitions and set the stage for her remarkable personal transformation. Otema vividly recalls a pivotal moment in her career when she first embraced the transformative mindset of limitless possibilities. She reminisced about a conversation with her mentor when she decided not to pursue law school. Uncertain about her next steps, her mentor imparted profound advice: “There are no limits. Go out there and be great at what you believe you can do.” These words resonated deeply within Otema, igniting a fire of determination and courage. Driven by a desire to work with the United Nations (UN), Otema embarked on a journey of research and self-discovery. She meticulously studied the organisation she aspired to join, the UNIFEM (United Nations Development Fund for Women). She discovered that the head of the organisation was working with a volunteer group. Recognising the value of access, Otema wasted no time signing up as a volunteer, actively participating in their events, and gaining valuable insights into the industry. With newfound knowledge and the art of networking, Otema mustered the courage to approach the individuals she admired and expressed her interest in learning from their experiences. To her astonishment, they revealed that internship opportunities at the UN were on the horizon. What initially seemed like an unattainable dream had now transformed into a tangible possibility. Otema attributes her success to diligent research, cultivating meaningful connections, and giving back through volunteer work. Otema has developed strategies to cultivate and maintain the empowering mindset that there are no limits. She believes in the power of introspection and regularly employs interrogative pronouns to guide her self-reflection and decision-making processes. The first question Otema encourages others to ask themselves is, “Who are you?” Then, individuals can align their goals with their authentic selves by delving deep into one’s true identity and understanding personal motivations and aspirations. Otema emphasises the importance of acknowledging whether the drivers of success stem from genuine desires or external influences. The following interrogative pronoun she utilises is “What.” Otema prompts individuals to identify what they genuinely want to do. By connecting with their passions and innate talents, they can discover their true calling and embark on a path that resonates with their authentic selves. The question of “When” is also crucial in Otema’s framework. She encourages individuals to define their desired timeline for achieving