The Minister for Finance, Dr Cassiel Ato Forson, has announced that government will establish a Value for Money Office (VfMO) to strengthen fiscal discipline, enhance accountability and ensure that every cedi spent delivers tangible results for Ghanaians.

He made the announcement on Thursday, November 13, while presenting the 2026 Budget Statement and Economic Policy to Parliament.

According to the Minister, although compliance with public financial management laws has improved, persistent challenges including inflated project costs, budget overruns, and abandoned projects continue to undermine efficiency.

The new office will function as an independent statutory body with the legal mandate to review, certify, and sanction public spending, preventing waste and promoting value-driven investments.

Dr. Forson noted that the establishment of the VfMO marks a shift from “box-ticking” compliance to “outcome accountability,” ensuring that public resources are used efficiently to deliver roads, schools, hospitals, and jobs.

“The Value for Money Office will be Ghana’s permanent guardian of economy, efficiency, effectiveness, equity, and accountability,” he said.

Key objectives of the VfMO include verifying that major projects are economically justified and technically sound, ensuring that prices align with national cost benchmarks, demanding measurable results from government agencies, and publishing transparent performance reports for Parliament and the public.

The Office will operate through three lines of defense across the project life cycle including Pre-award reviews to certify project scope, cost, financing, and timelines, Post-award monitoring to prevent overruns and ensure quality as well as Post-completion evaluations to confirm value creation.

A mandatory Value for Money Certificate will be required for contract awards, payments, and project continuation.

Government also plans to launch a Value for Money Transparency Portal to provide real-time publication of certified projects, benchmarks, savings, and citizen feedback. Quarterly and annual VfM reports will be submitted to Cabinet and Parliament and made publicly accessible.