Akufo-Addo, 72, won the December 7 election on his third run for the office, defeating incumbent John Dramani Mahama.
The race was largely seen as a referendum on how the incumbent party had managed the economy in this long stable democracy.
This is the fourth time a Ghanaian president has peacefully stepped aside to make way for a newly elected leader, after the country suffered more than a decade of military dictatorship.
The ceremony was attended by a number of African leaders, who will meet to discuss Gambia's political crisis.
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