Parliament has approved the Value for Money Office Bill, 2026, paving the way for the establishment of a new body to enhance oversight of public spending and procurement.

Finance Minister Cassiel Ato Forson, who presented the Bill to the House on February 24, 2026, described the move as a decisive step toward tackling persistent challenges in Ghana’s public financial management system.

Speaking on the floor of Parliament, he explained that the legislation seeks to address long-standing issues such as inflated contract costs, abandoned projects, budget overruns, and the inefficient use of public funds.

The proposed Value for Money Office will operate as an independent institution with a clearly defined technical mandate. Its responsibilities will include evaluating the cost-effectiveness of projects, issuing mandatory certification for major contracts prior to approval, monitoring compliance with set standards, and enforcing sanctions for violations.

Dr Forson expressed confidence that the new office will promote fiscal discipline, enhance project delivery, and ensure that public investments deliver tangible benefits to citizens.