The John Mahama version 2 (JM v.2) is here. From January 7 next year, President Mahama returns to take over the reins of government, having received an overwhelming endorsement and the biggest presidential and parliamentary win in the country in over two decades.

These historic wins strengthen the hands of the former president and comfort him to initiate and implement far-reaching reforms and policies to reset the nation in the direction it so much desires.

What the former legislator and vice president does with the next four years will add to or subtract from his oozing legacy and the stature of the National Democratic Congress (NDC) in Ghana’s democratic dispensation when he retires from active politics.

This is why the team he assemblies to help him prosecute the agenda is critical Conscious of the huge expectations from the citizens and the leadership gap the country suffered over the past eight years, President Mahama needs to be surrounded by leaders of merit who are conscious of the NDC’s socialist ideals and the need to quickly improve lives for all, not a few.

These team members must be people who exude confidence, engender trust and are pragmatic in their actions and thoughts.

He needs leaders with adequate foresight, adept in Ghana’s peculiarities and knowledgeable in the global architecture to quickly harness opportunities into results for the people.

These people must not just be technocrats but well blended in specialty and politics to meet the aspirations of the various stakeholders at play. In Ghana as is the case elsewhere, the success or otherwise of a president and a government in general is dependent on how the economy performs. Needless to say Ghanaians booted the Akufo-Addo-Bawumia government out due to their poor showing on the economy over the last eight years.

Thus, for JM v.2 to succeed, President Mahama must have the finance minister who ticks all the boxes.

As the national purse keeper, the finance minister must be someone the president trusts. He/she must have integrity and aura, commanding the respect of the government and the party and attracting confidence from global partners like the IMF, World Bank, investors and diplomats.

The person must not be tainted and the resume and achievements must precede him/her. Importantly, the person must be politically correct, meeting the power balance in the party and gelling well with its hierarchy and the base.

The options

Since the December 8 declaration, various names have popped up as potential fiance ministers.

Among them are former Finance Minister, Seth Terkper, former deputy Finance Minister and current NDC Leader in Parliament, Dr Casiel Ato Forson, MP for Bolgatanga Central and Ranking Member on Parliament’s Finance Committee’s, Isaac Adongo, and the Chairman of the Public Accounts Committer, James Klutse Avedzi. Former deputy Finance Minister, Mona Quartey’s name has also come up as a potential finance minister.

While each of these merits the speculation around them, it is only one who will be selected and the appointee must fit the bill as explained above and even more.

Pros and cons

Mr Terkper is a fine technocrat whose tax and IMF backgrounds were evident in the economy in President Mahama’s first term.

His current comments on critical issues like economic growth and the free senior high school policy leave much to be desired. They create the impression that he falls short of the fine balance needed by a finance minister as far as blending specialty with politics is concerned.

Then come his two deputies, Dr Forson and Madam Quartey. As stock of the Terkper regime, one wonders if they possess the air of confidence and clout that a finance minister at this critical juncture must have.

Dr Forson’s case is complicated by his persecution by the outgoing Akufo-Addo-Bawumia government and his origin from the Central Region.

As the region with Ghana’s first woman Vice President-elect, where the NDC’s performance has not been smooth, one wonders if he meets the political balance required at a time appointments must be strategic.

Capacity and competence are also key, conscious of the heap of challenges a finance minister will confront.

The fine blends

How about Messrs Adongo and Avedzi?

As seasoned finance legislators from the NDC’s traditional strongholds, either of fits the bill.

Their experiences in public finance, systems and economic management make them a great pick for the role at a time when pragmatism rather than theory is needed to stabilise and reboot economy.

Each has exhibited high professionalism in their fields, holding the government to account and exciting the base of the party in the lead up to the resounding victory. They have integrity and are closely associated with JM, which are critical attributes of a finance minister.

Thus, as the lobbying continues, the appointing authorities need to look beyond names into capacity and track record. There is also the need to meet regional balance in the power distribution though that should not lead results being sacrificed.

The JM v2 is critical to Ghana’s survival, President Mahama’s legacy and the NDC’s progress. Who becomes the finance minister will be critical in how President Mahama meets these expectations.