Parliament has passed the Value for Money Office Bill 2026, paving the way for the establishment of a new independent body to strengthen oversight of public spending and procurement.
The legislation, introduced in February by Finance Minister Cassiel Ato Forson, is aimed at embedding efficiency, transparency, and accountability in the management of public funds.
Speaking on the floor of Parliament, Dr. Forson said the Bill responds to persistent weaknesses in Ghana’s public financial management system, including inflated contract sums, abandoned projects, cost overruns, and wasteful expenditure.
“This Bill institutionalises a comprehensive value for money framework to ensure that every cedi spent by Government delivers maximum benefit to citizens in terms of economy, efficiency, effectiveness, equity, and sustainability,” he said.
Once operational, the Value for Money Office will function as an independent oversight institution with a technical mandate to assess government projects and spending.
Its core responsibilities will include conducting value for money assessments, issuing mandatory Value for Money Certificates before major contracts are awarded, monitoring compliance across public entities, and enforcing sanctions where violations occur.
The government says the new framework is designed to improve discipline in public financial management and ensure that state projects deliver measurable benefits to citizens.
Dr. Forson added that the Office will play a critical role in promoting prudent spending and reducing inefficiencies that have long undermined public sector delivery.
The passage of the Bill marks a significant step in government efforts to reform procurement processes and strengthen accountability in the use of public resources.
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