The Vice President of Ghana, Professor Naana Jane Opoku-Agyemang, has announced tougher sanctions for public institutions that misuse state funds and fail to follow spending rules.
Speaking at the Controller and Accountant-General’s Department annual conference in Koforidua yesterday, the Vice President said the government was determined to protect public funds through stronger laws, digital systems, and stricter accountability measures.
She said Ghana was moving into a new era of technology-driven public financial management, where discipline and accountability would guide every cedi spent.
The Vice President stated that government was introducing AI-powered trade analytics, digital VAT systems, and stronger port inspection systems to reduce leakages, detect under-invoicing, and curb smuggling that has cost the country significant revenue over the years.
She said the amended Public Financial Management Act, 2025, would be strictly enforced, with sanctions for non-compliance and real-time audit monitoring systems.
The Vice President also announced plans for a new Value for Money Office to scrutinise projects before approval, monitor implementation, and ensure that public funds deliver measurable results.
According to her, recent economic indicators revealed that the government reforms were yielding positive results.
She said inflation had dropped from 23.8 per cent in December 2024 to 3.2 per cent in March this year, while the cedi had stabilised due to stronger reserves.
She added that Ghana had recorded a primary fiscal surplus of 1.6 per cent, reversing earlier deficits.
The Vice President further noted that public debt had declined significantly, treasury bill rates had fallen, revenue collection had improved, and Ghana’s sovereign credit ratings had strengthened.
She commended the Ministry of Finance and the Controller and Accountant-General’s Department for helping to restore confidence in the country’s public finances.
Quoting the 2026 Budget, she reminded officials that: “Every cedi must work for the Ghanaian people.”
She tasked the Controller and Accountant-General’s Department to lead the digital transformation of government accounting systems, prevent arrears through strict commitment controls, eliminate ghost names from the payroll, improve real-time reporting, and support transparent public spending.
She said sound financial reforms were directly linked to visible national development, including infrastructure projects under the Big Push agenda, expansion in education, health and social protection, and job creation.
The Controller and Accountant-General, Mr Kwasi Agyei, also warned that repeated cases of non-compliance across ministries, departments, and agencies were causing financial losses to the state and weakening public trust.
He said failures in accountability could not continue and urged public officers to comply with the Public Financial Management Act and use available systems to improve transparency.
Mr Agyei added that the department would continue to invest in professional training, including attachments for selected accountants, to improve technical skills and the quality of financial reporting.
He said stronger institutions and the right human capital were necessary to sustain the gains made so far.
The conference brought together finance and accounting professionals from across the country to discuss reforms, improve systems, and strengthen governance in the public sector.
BY AGNES OPOKU SARPONG
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