Dr Cassiel Ato Forson, Minister for Finance and Economic Planning, says government will establish an independent Value for Money Office (VfMO) in 2026 to promote fiscal accountability and efficiency.
Presenting the 2026 Budget Statement and Economic Policy in Parliament, he said the office would certify major projects before approval, monitor delivery, and evaluate outcomes to ensure that public funds deliver measurable value.
“The Office will enforce cost benchmarks, require public value for money certificates for contracts, and coordinate with the Auditor-General, the Public Procurement Authority, and the Internal Audit Agency to impose penalties for waste and fraud,” he stated.
Dr Forson observed that many projects were overpriced, delayed, or abandoned due to scrutiny occurring only after funds had been spent, adding that inflation and weak oversight had eroded the value of public expenditure.
He said the reform could save the country up to GH¢3 billion annually, reduce contract inflation, and restore public confidence in state institutions.
“The Value for Money Office is not just another agency; it is Ghana’s watchdog for prudent spending and real results,” he noted.
