Accra: Mr Yaw Nsarkoh, former Executive Vice President, Global Markets Unilever, has called for a comprehensive reform of Ghana's political campaign funding to advance democratic governance. "Today, no one really knows how much a presidential candidate of a political party spends on their campaigns," he said. "No one knows where the money is sourced from; no one seems bound by any enforced laws to make all of these transparent and accountable."

According to Ghana News Agency, Mr Nsarkoh made the call at an occasional lecture, organised by the Ghana Academy of Arts and Sciences (GAAS) in Accra. The lecture was on the topic: 'Iniquities of Iniquity in our Santa Claus Democracy'. He argued that the gaps in political campaign financing had opened the door to money laundering and political favouritism.

Mr Nsarkoh emphasized that thirty years into the fourth republic, many questions were being raised about whether the country had delivered the expected improvements and dividends in the livelihoods of the masses. He noted that these questions were relevant not only to the country but also to Africa in achieving democratic governance. He highlighted that participation in political activities was too expensive for the majority of the population and called for urgent action to address this issue.

He further explained that a minority urban petty bourgeoisie had captured the state, marginalizing the majority who are poor and uneducated. With the collapse of local government in meaningful ways, access to power and decision-making was denied to the majority of the poor. Mr Nsarkoh stressed that the central task of democracy should be the delivery of shared prosperity and shared dignity, without which the country could not claim to be 'a free people.'

Since 1992, Ghana has witnessed nine successful elections, earning it the reputation of being a beacon of hope in democratic governance. However, Mr Nsarkoh pointed out that democracy was expected to restore basic freedoms and significantly improve the livelihoods of its citizens.

The Ghana Statistical Service, in its import governance report, revealed that more than 70 per cent of Ghanaians felt that the current political system provided little or no space for them to influence decision-making. Mr Nsarkoh described this situation as a worrying indictment of the country's pledge to democracy. He urged authorities to ensure that government institutions performed their mandate effectively and addressed the socio-economic needs of the citizenry, especially the poor, to achieve a democratic dividend.