Minister for Finance Dr Cassiel Ato Forson says the newly enacted Value for Money law will help reduce inflated public sector contract costs and strengthen accountability in government expenditure.
According to the Finance Minister, the legislation, recently signed into law by John Dramani Mahama, is expected to improve scrutiny of public procurement processes and ensure better value for state spending.
Dr Forson explained that the law establishes a dedicated Value for Money Office, which will be responsible for assessing government projects and evaluating whether contracts offer reasonable value before they are approved and executed.
“Beginning January 2027, this office will be fully implemented and Ghanaians will see the value of a Value for Money Office,” he stated.
He noted that the initiative forms part of broader fiscal reforms aimed at promoting transparency, curbing wasteful expenditure and preventing excessive pricing in public contracts.
The Finance Minister expressed confidence that the office would enhance efficiency in public financial management and reinforce government’s commitment to prudent use of national resources.