President John Dramani Mahama has assented to legislation establishing the Office for Value for Money, a new body aimed at eliminating inflated public contracts and reducing wasteful government expenditure across state institutions.
Finance Minister Dr. Cassiel Ato Forson, speaking after the assent, said the office would bring sharper scrutiny to public procurement and ensure that government projects deliver genuine returns to Ghanaian taxpayers. “The Office for Value for Money will stop inflation and padding of contracts,” he stated.
Dr. Forson said the office is expected to generate substantial savings by overhauling how public funds are deployed, arguing that the institution would ultimately pay for itself through the efficiencies it drives. He added that savings realised through the office’s work would expand the government’s fiscal space, freeing up resources for priority sectors of the economy.
The minister framed the initiative as a cornerstone of the government’s wider public financial management reform agenda, which targets improved transparency, accountability and efficiency in how state money is spent.
The establishment of the office signals a deliberate effort by the Mahama administration to address long-standing concerns about contract bloat and procurement irregularities that have drained public resources over successive budget cycles.
