Parliament has approved the Value for Money Office Bill, 2026, paving the way for the establishment of an independent body to strengthen scrutiny over public expenditure and procurement processes.
The Bill, introduced in February by Finance Minister Dr. Cassiel Ato Forson, seeks to address inefficiencies that have long plagued the country’s public financial management system.
Dr. Forson described the legislation as a critical intervention to curb persistent issues such as inflated contract costs, abandoned projects, cost overruns, and wasteful spending.
Also read: Trump claims Iran’s leaders “afraid” to admit talks with US
According to him, the new law institutionalises a robust value-for-money framework to ensure that every cedi spent by the government delivers optimal benefit to citizens.
“This Bill ensures that public funds are utilised based on principles of economy, efficiency, effectiveness, equity, and sustainability,” he stated.
Once operational, the Value for Money Office will function as an independent oversight institution with a technical mandate to conduct value-for-money assessments on public projects; issue mandatory Value for Money Certificates before major contracts are approved; monitor compliance across government agencies and enforce sanctions for breaches of procurement and spending rules
The Finance Minister stressed that the Office will play a pivotal role in promoting fiscal discipline and ensuring that government projects are executed efficiently while delivering tangible outcomes for citizens.