Finance Minister Dr. Cassiel Ato Forson has laid the Value for Money Office Bill before Parliament, describing it as a critical measure to tackle longstanding inefficiencies in Ghana’s public financial management system.
Presenting the Bill on the floor of the House on Tuesday, February 24, 2026, Dr. Forson explained that the proposed legislation seeks to institutionalise a robust “Value for Money” framework aimed at ensuring that every cedi spent by government delivers the maximum possible benefit to citizens in terms of economy, efficiency, effectiveness, equity, and sustainability.
The Minister highlighted persistent challenges in public expenditure, including inflated contracts, abandoned projects, cost overruns, and wasteful spending, which have undermined fiscal discipline and public trust over the years.
According to Dr. Forson, the Value for Money Office will be established as a specialised and independent oversight institution with a clear technical mandate. The Office will be responsible for conducting value-for-money assessments, issuing mandatory Value for Money Certificates prior to the award of major contracts, monitoring compliance across government entities, and enforcing sanctions in cases of violations.
He stressed that the Bill is designed to curb contract inflation, promote uniform pricing across public institutions, and fundamentally transform the landscape of public financial management in Ghana. By strengthening oversight mechanisms and enforcing strict compliance, the Office is expected to deliver measurable cost savings, improve the quality and timely delivery of public sector projects, and ensure more equitable distribution of national resources.
Dr. Forson noted that the proposed legislation aligns Ghana with international best practices in public expenditure management. He referenced successful models such as the National Audit Office and Government Accountability Office frameworks, as well as value-for-money systems implemented in countries like Canada, which have significantly enhanced accountability and optimised the use of public funds.
The Finance Minister emphasised that the establishment of the Value for Money Office will go beyond mere cost-cutting. It is intended to reinforce fiscal discipline, reduce wasteful expenditure, boost public confidence in government spending, and strengthen the country’s broader governance and accountability architecture.
Ultimately, Dr. Forson said the initiative will help restore public trust, enhance investor confidence, and ensure that public investments yield tangible social and economic returns for the people of Ghana.