The Government will establish an independent Value for Money Office (VfMO) to strengthen accountability, efficiency, and transparency in public spending, with expected annual savings of up to GH¢3 billion.
Finance Minister Dr. Cassiel Ato Forson made the announcement when he presented the 2026 Budget Statement and Economic Policy to Parliament, emphasising that the new office would serve as a “permanent guardian of fiscal integrity” in Ghana’s development agenda.
According to Dr. Forson, the Value for Money Office Ghana will evaluate all major public projects before approval, ensuring that each cedi spent delivers measurable outcomes for citizens. “Too often, scrutiny comes only after money is spent,” he said. “We are changing that culture. Every project must prove its worth before funds are released.”
The new office will operate independently but coordinate closely with the Auditor-General, Public Procurement Authority, and Internal Audit Agency.
It will certify project costs, monitor implementation, and enforce compliance with procurement and performance standards.
The office will also introduce a Value for Money Transparency Portal, publishing certified projects and citizen feedback in real time to promote open governance.
In addition, Dr. Forson said the office would establish national cost benchmarks to prevent inflated pricing and wasteful contracts. “Public resources must build value, not inflate costs,” he asserted.
Government expects the VfMO to save Ghana up to GH¢3 billion each year by cutting contract inflation, eliminating ghost projects, and ensuring competitive pricing in procurement.
Institutions or contractors found breaching value-for-money principles will face sanctions, including blacklisting and legal prosecution.
This reform forms part of broader structural measures under the Reset for Growth, Jobs, and Economic Transformation agenda, which prioritises fiscal discipline and effective resource utilisation.
“Ghana has learned painful lessons from the cost of inefficiency,” Dr. Forson said. “The Value for Money Office is our commitment to never repeat them.”
Civil society organisations and economists have commended the move, describing it as a step toward restoring public trust in governance.
The Ghana Integrity Initiative said the VfMO could help curb procurement-related corruption, which has cost the state billions in overpricing and contract irregularities.
Local contractors have also welcomed the initiative, noting that consistent cost benchmarks will create a level playing field and ensure fairness in bidding processes.
The establishment of the Value for Money Office Ghana complements other measures such as updated procurement thresholds, stronger sanctions under the Public Financial Management Act, and digital monitoring of expenditure through quarterly audit reviews.
Together, these tools are expected to streamline public investment, enhance project delivery, and ensure that government spending translates into real economic benefits.
“The VfMO is not another bureaucracy,” Dr. Forson clarified. “It’s Ghana’s watchdog for prudent spending and real results.”
