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1966 Coup Stalled Ghana’s Economic Freedom – Mahama

How the 1966 Coup Derailed Ghana’s Economic Independence – Mahama

Speaking at Ghana’s 68th Independence Day celebration on March 6, 2025, President John Dramani Mahama highlighted how Nkrumah’s visionary leadership aimed to establish a strong, self-reliant economy based on industrial growth and Pan-African unity, but he argued that the coup derailed this vision, plunging the country into protracted economic struggles. Mahama has blamed Ghana’s economic difficulties on the military coup of February 24, 1966, which overthrew the country’s first leader, Osagyefo Dr. Kwame Nkrumah.

“Nkrumah had a grand plan for an industrialized Ghana, where citizens would enjoy a high standard of living built on self-sufficiency and patriotism,” Mahama stated. “Unfortunately, his vision was crushed on February 24, 1966, setting Ghana back for decades.”

According to declassified U.S. government papers mentioned by Mahama, the Central Intelligence Agency (CIA) may have been involved in the coup’s planning. He asserted that Nkrumah’s economic policies, which gave preference to domestic industry over reliance on foreign sources, were targeted by the West. The former president clarified that policies that did not support domestic industry and a greater reliance on foreign aid resulted from Nkrumah’s overthrow. He underlined that genuine independence should be the cornerstone of economic development and transcends political freedom. Mahama asked Ghanaians to take stock of the nation’s past and grow from its mistakes. In order to end the cycle of dependency and move Ghana closer to economic independence, he urged strong leadership.

“My administration is committed to implementing policies that promote local production, economic expansion, and industrial growth,” he assured.

The speech resonated with many Ghanaians, particularly those who believe that the nation has yet to achieve the economic independence envisioned by Nkrumah. As Mahama continues to advocate for a self-sufficient economy, his remarks reignite the debate on Ghana’s economic direction and the long-term effects of the 1966 coup.

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