General News of Wednesday, 25 March 2026Source: classfmonline.comParliament has passed the Value for Money Office Bill, 2026, clearing the path for the creation of a new institution aimed at strengthening oversight of public spending and procurement processes. The Finance Minister, Cassiel Ato Forson, on February 24, 2026, who laid the Bill before the House, described it as a bold step toward addressing long-standing weaknesses in Ghana’s public financial management. The proposed Value for Money Office will function as an autonomous body with a defined technical role. Its core duties will involve conducting thorough assessments of project value, issuing compulsory certification for major contracts before approval, tracking adherence to established standards, and applying penalties where breaches occur. According to Dr Forson, the institution is expected to drive greater fiscal discipline, improve project execution, and ensure that public investments translate into real benefits for citizens.

Source: GhanaWeb March 26, 2026 05:03 UTC