The Finance Minister, Dr. Cassiel Ato Forson, has declared that the government will create a Value for Money Office (VfMO) aimed at reinforcing fiscal discipline, improving accountability, and guaranteeing that every cedi spent yields tangible benefits for Ghanaians.
He made this announcement on Thursday, November 13, during his presentation of the 2026 Budget Statement and Economic Policy to Parliament.
The Minister noted that while the enforcement of public financial management laws has led to better compliance, issues such as inflated project costs, budget overruns, and abandoned projects still hinder efficiency.
The new office will function as an independent statutory entity with the legal power to review, certify, and sanction public expenditures to avert waste and ensure investments are value-driven.
Dr. Forson elaborated that the creation of the VfMO signifies a transition from mere “box-ticking” compliance to “outcome accountability,” ensuring that public resources are utilized effectively to provide roads, schools, hospitals, and employment opportunities.
“The Value for Money Office will serve as Ghana’s enduring protector of economy, efficiency, effectiveness, equity, and accountability,” he remarked.
The primary goals of the VfMO encompass verifying that significant projects are economically justified and technically sound, ensuring that prices align with national cost benchmarks, demanding measurable outcomes from government agencies, and publishing transparent performance reports for both Parliament and the public.
The Office will function through three lines of defense throughout the project life cycle: pre-award reviews to validate project scope, cost, financing, and timelines; post-award monitoring to prevent overruns and guarantee quality; and post-completion evaluations to confirm value creation. A mandatory Value for Money Certificate will be required for contract awards, payments, or project continuation.
The government is also set to launch a Value for Money Transparency Portal, which will facilitate the real-time publication of certified projects, benchmarks, savings, and feedback from citizens.
Quarterly and annual VfM reports will be presented to the Cabinet and Parliament, and will be made available to the public.
The VfMO will collaborate closely with the Public Procurement Authority, Internal Audit Agency, Auditor-General, and the Ministry of Finance to implement sanctions against wasteful expenditures. These sanctions will encompass administrative penalties, surcharges, referrals for prosecution, and the blacklisting of entities that do not comply.
In the initial five years of its operation, the initiative is anticipated to realize a reduction in contract inflation and waste by 10 to 15 percent, save the nation around GH¢3 billion each year, and restore both investor and citizen trust in public expenditure.
“This represents more than just a new office; it establishes a new standard,” stated the Minister. “Through the Value for Money Office, we prioritize prudence over waste, performance over process, and service over mere slogans. Every cedi must be accounted for — and will be accounted for — on behalf of the Ghanaian populace.
