Former Chairperson of the Electoral Commission (EC), Charlotte Osei, has called for amendments to Ghana’s asset declaration regime following the release of a new report by the Ghana Center for Democratic Development (CDD-Ghana).
The report revealed disturbing figures about the escalating costs of winning elections in the country.
The report estimates that securing victory in presidential and parliamentary elections now requires around $150 million and an additional GHS 10 million. This eye-watering figure reflects the increasing monetization of the electoral process, which experts warn is fueling corruption and undermining accountability among public office holders.
Speaking at the event, Madam Osei, who is also a member of the Constitutional Review Committee, stressed the importance of a thorough review of the asset declaration system. She described the asset declaration regime as “a critical key for fighting corruption among public office holders.”
“For some reason, even when you look at the Constitution, general managers of state-owned entities or entities with state interests are supposed to be subject to this asset declaration regime. I don’t know if we’ve applied it to that level,” Madam Osei noted.
She further emphasized that reforms are necessary to bolster transparency and restore public trust in the system.
“I’m also wondering that, if we had a system where, upon assumption of office, you declare your assets and it is rigorously verified, such a stringent regime would really help,” she concluded.