Parliament passes Value for Money Office Bill

The Value for Money Office Bill, 2026, has been approved by Parliament, paving the way for the establishment of a new body focused on enhancing the supervision of public expenditure and procurement procedures.

On February 24, 2026, the Finance Minister, Cassiel Ato Forson, presented the Bill to the House, calling it a significant move to tackle persistent deficiencies in Ghana’s public financial management.

Speaking to Members of Parliament, he emphasized that the bill aims to tackle ongoing problems such as excessive contracts, delayed projects, budget overruns, and inefficient use of state assets.

The Value for Money Office will operate as an independent entity with a specific technical function.

Its primary responsibilities will include performing detailed evaluations of project worth, providing mandatory certification for significant contracts prior to approval, monitoring compliance with set standards, and imposing penalties in cases of violations.

The institution is expected to drive greater fiscal discipline, improve project execution, and ensure that public investments translate into real benefits for citizens according to the Finance Minister.

Source: Ghanatodayonline.com