• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Prof. Ebo Turkson Urges Incoming Gov’t to Review Procurement Laws to Enhance Public Spending Efficiency

10 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
159
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Prof. Ebo Turkson Urges Incoming Gov’t to Review Procurement Laws to Enhance Public Spending Efficiency

Associate Professor of Economics at the University of Ghana, Ebo Turkson, has called on the incoming National Democratic Congress (NDC) administration to revise Ghana’s procurement laws.

He argues that inefficiencies in the current system lead to inflated costs and reduced value for money in public spending.

Speaking during a NorvanReports and Economic Governance Platform X Space discussion on “Fiscal Sustainability Amid Tax Cuts and Manifesto Promises,” Prof. Turkson highlighted instances where prices for goods and services procured by the government have been inflated up to five times the market rate.

“The incoming government should look at the national procurement laws now that they have the majority in parliament. I won’t call it corruption, but I don’t think Ghana receives value for money in public spending. Delays in payments to contractors and service providers often result in prices being quoted at quadruple or even quintuple the market price,” Prof. Turkson stated.

He suggested that Ghana could adopt best practices from the World Bank and other countries to improve efficiency in public procurement.

“We can learn from the World Bank and other countries that use public procurement more efficiently to reduce public spending—not just on goods and services but also in public sector compensation,” he noted.

RelatedPosts

CAL Bank’s Total Assets Drop by GHS 1.42bn in Q3 2025; CAR Remains Below Regulatory Threshold

Former First Lady Nana Konadu Agyeman-Rawlings Passes Away at 77

GFA President Commends Ghanaian Media, Calls For Continued Collaboration to Advance Football Development

The call for a review of the procurement laws to create a stronger, more transparent system aimed at preventing revenue leakages and ensuring better accountability has also been made by IMANI Africa.

According to IMANI Africa, Ghana’s heavy reliance on single-source procurement, especially for high-value contracts, has introduced significant weaknesses into the procurement system.

Speaking further during the X Space Discussion, Prof Turkson also emphasized the need for sustainable fiscal consolidation as Ghana exits its current International Monetary Fund (IMF) programme.

He urged the government to reassure citizens that fiscal reforms would not be short-lived.

“Ghana must come out of the IMF programme stronger than it entered. Fiscal consolidation should not be a one-off process. The government must address concerns around financing and create a robust fiscal framework to provide adequate fiscal space,” he concluded.

Prof Turkson’s remarks underscore the importance of addressing inefficiencies in public procurement and fiscal management as part of broader efforts to stabilize Ghana’s economy.

Tags: Procurement LawsProf. Ebo TurksonProf. Ebo Turkson Urges Incoming Gov't to Review Procurement Laws to Enhance Public Spending EfficiencyPublic Spending Efficiency

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Africa Loses $5bn Annually to Forex Transactions, Says AfCFTA Secretariat

World Bank Unveils IFC2030 Strategy to Boost Private Capital and Job Creation

Domestic Debt Surpasses External Debt for the First Time in Years

Aliko Dangote Becomes the First African to hit the $30 Billion Mark

GoldBold Opens Licensing for Jewellery, Fabrication and Refinery

IMF Managing Director Appoints Christian Mumssen as Director of the Strategy, Policy, and Review Department

Trending

Banking & Finance

CAL Bank’s Total Assets Drop by GHS 1.42bn in Q3 2025; CAR Remains Below Regulatory Threshold

October 23, 2025

CAL Bank’s Total Assets Drop by GHS 1.42bn in Q3 2025; CAR Remains Below Regulatory Threshold A...

Former First Lady Nana Konadu Agyeman-Rawlings Passes Away at 77

October 23, 2025

GFA President Commends Ghanaian Media, Calls For Continued Collaboration to Advance Football Development

October 23, 2025

Africa Loses $5bn Annually to Forex Transactions, Says AfCFTA Secretariat

October 23, 2025

World Bank Unveils IFC2030 Strategy to Boost Private Capital and Job Creation

October 23, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.