President Mahama signs Value for Money Law to tackle inflated government contracts

President John Dramani Mahama has signed the Value for Money Office Bill into law, in a move aimed at stopping inflated government contracts and improving accountability in public spending. 

The signing event took place on Monday, May 11, 2026, marking a key step in the government’s plan to ensure that public funds are used more efficiently and transparently.

Finance Minister Cassiel Ato Baah Forson announced the development, describing it as an important milestone in efforts to control rising government expenditure linked to overpriced contracts.

“Today is a good day. His Excellency the President has signed the Value for Money Office Bill into law,” Dr Forson said.

According to the Minister, under the new law, all single-source procurement contracts will now be reviewed by a newly created Value for Money Office before approval. The aim is to ensure that government gets the best possible value for every cedi spent.

Dr Forson detailed that such assessments were previously handled by the Legal Division of the Ministry of Finance, which did not have specialised capacity for detailed financial evaluations. The new office, he said, will have technical experts dedicated to reviewing contracts independently.

The establishment of the office is part of a campaign promise by President Mahama to strengthen transparency and improve public financial management.

The government is currently making arrangements to secure funding, appoint leadership, and establish a technical team to run the office. It is expected to become fully operational by January 2027.

Dr Forson assured Ghanaians that the new system will help reduce the problem of inflated public contracts and ensure better use of state resources.