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The Minister of Finance, Dr Cassiel Ato-Forson, says the government will next year establish an independent Value for Money. Office (VfMO) which would serve as a “permanent guardian of efficiency, accountability, and fiscal integrity”.
While presenting the 2026 Budget and Economic policy on the floor of parliament, he said the office will among other things certify major projects before approval, monitor delivery, and evaluate results to ensure every fund spent delivers measurable value.
“The Office will enforce cost benchmarks, require public value for money certificates for contracts, and coordinate with the Auditor-General, the Public Procurement Authority, and the Internal Audit Agency to impose penalties for waste and fraud,” the minister said.
He observed that too often, projects are overpriced, delayed, or abandoned because scrutiny comes only after money had been spent.
The practice, he noted, coupled with years of inflation and weak oversight had deprived the country’s public spending from attaining real value.
He emphasised that the reform could save the country up to GH¢3 billion a year, cut contract inflation, and rebuild public trust in existing public institutions and systems.
“The Value for Money Office is not just another agency; it is Ghana’s watchdog for prudent spending and real results,” he noted.
SOURCE: GNA
