The Economist Intelligence Unit (EIU) and Fitch Solutions, two UK-based research firms, are both predicting a victory for the opposition National Democratic Congress (NDC) led by former President John Mahama in the upcoming 2024 Presidential elections.

The EIU forecasts a transfer of power from the ruling New Patriotic Party (NPP) which will be represented by Vice President Dr Mahamudu Bawumia, its flagbearer, to the NDC.

This shift, according to the EIU, will be driven by factors such as declining living standards, limited job opportunities, and poor public services.

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Fitch Solutions also suggests that the ruling party is unlikely to retain power, with former President Mahama expected to secure victory in the swing regions by nearly 48 percent compared to Vice President Bawumia's 29%.

According to BMI, a Fitch Solutions company, the NPP is unlikely to stay in power after the 2024 election. Data from Global Info Analytics and their own sources indicate that the NDC is ahead of the NPP in the Volta-Oti regions, Northern regions, swing regions, and Akan regions.

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The EIU report forecasts that the Ghanaian cedi will regain some of its lost value following a debt restructuring deal and is expected to end 2024 below 12 cedis to the dollar.

The report indicates that in 2024, about nine African countries will hold elections, with incumbent regimes expected to prevail in most cases, but there is a heightened risk of reduced parliamentary majorities.

According to the EIU, Ghana is likely to witness a transfer of power from the ruling NPP to the NDC, driven by factors such as declining living standards, limited job opportunities, and poor public services.

The report also predicts that inflation will ease in most African countries in 2024, but some major economies, including Ghana, will continue to experience double-digit inflation.