Ghana's President-elect John Dramani Mahama has said he will not abandon the country's $3 billion rescue package with the International Monetary Fund, but wants to review the deal to tackle wasteful state spending and upgrade the energy sector.

Ghana’s vice president and ruling party candidate, Mahamudu Bawumia, has conceded to opposition candidate and former President John Dramani Mahama in the country's presidential election, ahead of the official announcement.

Ghana's opposition leader John Mahama officially won the country's election on Monday, easily defeating the ruling party candidate after voters punished the government's economic management and high living costs.