Procurement experts have urged Ghana to shift from compliance-driven procurement to a value-centred approach. This change aims to stimulate economic growth, curb corruption, and attract inward investment in the country.
Key figures in the procurement sector expressed concerns about external interference in contract awards and service acquisition. Such influences contribute significantly to corruption within procurement processes, hindering economic progress. The experts believe that focusing on value will make procurement a strategic tool for national development.
This call aligns with Ghana's ongoing efforts to improve public financial management and combat graft. The nation frequently grapples with challenges related to transparency and efficiency in public sector contracts. Implementing value-driven procurement could significantly reduce financial leakages and improve resource allocation across government projects. This also aligns with efforts to boost investor confidence in Ghana's growing economy.
Mr. Ben Farrell, Global Chief Executive Officer of the Chartered Institute of Procurement and Supply (CIPS), highlighted the need for strategic contributions from procurement professionals. He stated that professionals must help shape national economies and business prosperity. Mr. Farrell urged the government to protect and empower procurement officials. This empowerment would help them eliminate corruption and create conditions conducive to attracting foreign investment and promoting economic prosperity.
Mr. Farrell also recommended strong ethical standards and accountability in procurement. He advocated for the use of artificial intelligence (AI) to improve procurement data systems. Better data would support informed decision-making and enhance proficiency across the public sector. He noted that the “Great Conversation” series, where these discussions took place, gathers views on the future of the profession amid global conflicts and supply chain disruptions.
Madam Stella Addo, General Manager of CIPS West Africa, emphasized the importance of involving procurement professionals from the planning stage. She said this ensures value for money and reduces corruption in purchasing decisions. Madam Addo views procurement as a value-adding discipline, not just a compliance function. She added that technologies like AI would enhance the profession, urging practitioners to adapt and upskill.
This strategic shift has significant implications for how public funds are managed in Ghana. Decision-makers must now consider empowering procurement officials and investing in technology. This includes AI and strong ethical frameworks. Such changes are crucial for improving transparency and attracting more foreign direct investment into Ghana.