Parliament has passed the Value for Money Office Bill, 2026, a new piece of legislation aimed at ensuring that public contracts and government spending deliver value for money through improved oversight and accountability.
The Bill provides for the establishment of a Value for Money Office, which will be responsible for regulating, monitoring, coordinating and promoting value-for-money assessments in public procurement and expenditure. The office is expected to help improve efficiency, transparency and accountability in the use of public funds.
The Bill was presented to Parliament by the Minister of Finance,
Cassiel Ato Forson
on February 24 this year and was later referred to the Finance Committee of Parliament for consideration and report before its passage.
However, the Minority Caucus in Parliament distanced itself from the processes leading to the passage of the Bill, warning that the proposed law could rather worsen corruption if not properly implemented.
Defence of the Bill
Defending the Bill during the motion for debate after the second reading, the Deputy Minister of Finance,
Thomas Nyarko Ampem
rejected claims that the establishment of the office would promote corruption.
He explained that the initiative was intended to strengthen oversight of public procurement by ensuring that all government contracts deliver real value for money and not just follow procurement procedures.
According to him, while the Public Procurement Authority ensures that procurement processes follow the law and proper procedures, it does not adequately address cost efficiency and whether government is getting the best value from contracts.
The passage of the Value for Money Office Bill, 2026 is expected to strengthen financial oversight, reduce waste in public spending and improve accountability in government procurement processes.