Parliament has passed the Value for Money Office Bill, 2026, paving the way for the establishment of an independent body to strengthen oversight of public spending and procurement.
The legislation, introduced in February by Finance Minister Cassiel Ato Forson, seeks to address persistent inefficiencies in the management of public resources by embedding transparency, accountability, and efficiency in government expenditure.
Speaking on the floor of Parliament, Dr Forson described the Bill as a critical intervention to tackle long-standing challenges, including inflated contract values, project abandonment, cost overruns, and wasteful spending.
“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 proposed Value for Money Office will function as an independent oversight institution with a specialised technical mandate. It will be responsible for conducting value-for-money assessments, issuing mandatory certificates before the award of major contracts, monitoring compliance across public institutions, and enforcing sanctions where breaches occur.
Dr Forson noted that the establishment of the Office will strengthen public financial management by ensuring that government projects are executed efficiently and deliver measurable outcomes for citizens.
The passage of the Bill is expected to mark a significant step toward improving fiscal discipline and restoring public confidence in the use of state resources.
