Minority Leader Alexander Afenyo-Markin has warned that Ghana's new Value for Money Office Act, 2026, could become a tool for legitimizing corruption. He stated this on Wednesday, May 13, through a statement on Facebook. The office is intended to prevent corruption in public procurement.
Mr. Afenyo-Markin argues the government's setup lacks necessary safeguards for independent operation. He specifically points to the office's reporting structure. Placing it under the supervision of the Finance Minister undermines its credibility. A regulatory body that lacks independence cannot effectively fight corruption. This arrangement risks creating an institution that can justify and legitimize corruption. The office might operate under the cover of regulatory approval.
Ghana's economic growth has often been linked to the efficiency of its public spending. The country's procurement processes have faced scrutiny for years. For example, in 2023, Ghana's Auditor-General reported significant financial irregularities. The establishment of this new office aims to address such issues. However, its effectiveness is now being questioned. Mr. Afenyo-Markin's concerns reflect a broader debate about institutional accountability in Ghana. Strengthening existing financial oversight bodies is crucial for public trust.
“In other jurisdictions where Value for Money institutions exist, the laws establishing them provide clear safeguards for independence in appointments, operational mandate and oversight authority,” Mr. Afenyo-Markin said. This sentiment suggests a direct comparison is being made. International best practices often feature independent oversight boards. These boards are crucial for maintaining public confidence and institutional credibility. The current structure in Ghana appears to deviate from these proven models.
The Minority Leader believes this law could become a shield for future procurement scandals. He suggests authorities should focus on strengthening existing accountability institutions. This would be a more meaningful anti-corruption reform. Creating politically controlled structures risks manipulation. The government prioritizes political control over genuine reforms, he claims. The implications of this warning are significant for Ghana's financial governance. Investors and citizens will watch closely how this office operates. The potential for increased corruption, rather than its reduction, is a serious concern.