Ghana significantly reduced financial irregularities across its public institutions, decreasing them by 62.9% from GHS 20.72 billion in 2024 to GHS 7.69 billion in 2025. Deputy Finance Minister Thomas Nyarko Ampem highlighted this progress while stressing the ongoing need for stronger internal controls to protect public funds.
The reduction in irregularities, detailed in the 2025 Auditor-General’s reports, reflects efforts to improve financial management. However, the remaining GHS 7.69 billion in irregularities demonstrates that substantial work is still required. Mr. Ampem emphasized that effective internal auditing is crucial for ensuring public resources are properly managed and directed towards national development priorities.
This drive for fiscal discipline aligns with Ghana's broader economic goals, particularly the government's New Economy agenda. The agenda aims to build a more productive, industrialised, and resilient economy that creates jobs and improves livelihoods. Protecting public funds from waste and mismanagement is fundamental to achieving these ambitious development targets, which require significant investments in infrastructure, skills, and technology. The government's commitment to fiscal prudence is a key pillar in its strategy to stabilize the economy and attract further investment.
Speaking at the 25th anniversary of the Institute of Internal Auditors Ghana, Mr. Ampem, representing Finance Minister Dr. Cassiel Ato Forson, acknowledged the progress. He stated, “A 62.9% reduction is progress. GHS 7.69 billion in remaining irregularities is a reminder that the job is far from finished.” He also cited the audit of government legacy arrears, where GHS 8.1 billion out of GHS 68.7 billion in claims were rejected due to issues like inadequate documentation or falsified receipts.
The government will likely intensify its focus on preventive measures rather than post-facto recovery of misused funds. Decision-makers will expect internal auditors to enhance scrutiny of procurement processes, payroll systems, and major public investments. The adoption of data analytics and digital tools will become increasingly important for early risk identification. Heads of institutions must empower auditors and act promptly on their recommendations to prevent recurring weaknesses. The success of the New Economy agenda hinges on both resource mobilisation and their effective, protected utilisation.
This sustained effort to strengthen public financial management is critical for Ghana's economic stability and growth. Preventing financial losses ensures that scarce resources are channeled into productive sectors, directly supporting job creation and infrastructure development. The government's commitment to transparency and accountability will also boost investor confidence. This ongoing vigilance will help Ghana avoid past financial pitfalls and build a more robust economic future. The emphasis on digital tools and professional competence for auditors signals a modern approach to safeguarding national assets.