Els: MBN360 Business
Parliament has passed the Value for Money Office Bill 2026, paving the way for the establishment of the Value for Money Office, a specialised institution tasked with enhancing efficiency, transparency, and accountability in public expenditure and procurement.
Finance Minister Dr. Cassiel Ato Forson presented the Bill in February, describing it as a decisive move to tackle chronic inefficiencies in Ghana’s public financial management system.
Speaking on the floor of Parliament, Dr. Forson said the legislation targets persistent challenges such as inflated contracts, abandoned projects, cost overruns, and wasteful public spending.
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“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 stated.
Under the new law, the Value for Money Office will operate as an independent oversight body with a clear technical mandate. Its responsibilities will include conducting value for money assessments, issuing mandatory Value for Money Certificates before major contracts are awarded, monitoring compliance, and enforcing sanctions against violations.
Dr. Forson emphasised that the Office will play a critical role in promoting prudent public financial management and ensuring that government projects are completed efficiently and deliver tangible benefits to citizens.
