Accra: Dr Cassiel Ato Forson, Minister for Finance and Economic Planning, announced that the government will establish an independent Value for Money Office (VfMO) in 2026 to enhance fiscal accountability and efficiency. During the presentation of the 2026 Budget Statement and Economic Policy in Parliament, Dr Forson emphasized that the office is expected to certify major projects before approval, monitor their delivery, and evaluate outcomes to ensure the effective use of public funds.
According to Ghana News Agency, the Value for Money Office will enforce cost benchmarks and require public value for money certificates for contracts. It will work in coordination with the Auditor-General, the Public Procurement Authority, and the Internal Audit Agency to impose penalties for waste and fraud. Dr Forson pointed out that many projects in the past have been overpriced, delayed, or abandoned due to scrutiny taking place only after funds were spent, with inflation and weak oversight eroding the value of public expenditure.
He highlighted that the reform could potentially save the country up to GHS3 billion annually by reducing contract inflation and restoring public confidence in state institutions. Dr Forson stated that the establishment of the Value for Money Office is a significant initiative as it represents Ghana's commitment to prudent spending and achieving tangible results.