Ghana’s Finance Ministry is set to establish a dedicated Compliance Desk as part of efforts to enforce the upgraded Public Financial Management (PFM) Act, 2025.
This was announced by the Minister for Finance, Dr. Cassiel Ato Forson, during a meeting with the World Bank Africa team, led by Vice President Ousmane Diagana. This initiative is expected to strengthen transparency, improve public financial management, and promote discipline within covered entities
Dr. Forson emphasized the need to curb fiscal indiscipline, especially among public institutions that have been awarding contracts without the necessary commencement certificates.
He noted that such practices have contributed to significant inefficiencies and budgetary shortfalls.
As part of the amendments to the PFM Act, the Ministry of Finance is now empowered to issue commencement authorisations – a move the Minister described as a major shift in fiscal oversight and accountability.
The newly established Compliance Desk will be responsible for monitoring and ensuring adherence to the provisions of the Act. In addition, it will introduce a Compliance League Table, which will publicly rank institutions based on their financial regulatory compliance.
© WAVN