The Ghana Centre for Democratic Development (CDD-Ghana) has expressed deep concern over the skyrocketing cost of running for president, warning that democracy risks being hijacked by the wealthy elite.
Speaking at an Open Society forum in Accra, the think tank’s Executive Director, Professor H. Kwasi Prempeh, revealed that a successful presidential campaign now demands an estimated $200 million.
“You now need about $200 million to win a presidential contest. How many of you can ever realistically be in that category?” Prof. Prempeh asked, adding that even at the parliamentary and primary levels, financial barriers are already shutting out many capable individuals.
He argued that such a financial threshold makes it nearly impossible for competent but less resourced leaders to compete on equal footing. According to him, the danger is that politics could become the exclusive preserve of the wealthy and well-connected.
“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 stressed.
CDD-Ghana warned that without reforms to campaign financing and internal party practices, Ghana’s democratic and developmental future could be at serious risk.
