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

Finance Minister Imposes New Approval Requirement for State Contracts

4 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
477
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Finance Minister Imposes New Approval Requirement for State Contracts

Finance Minister, Dr Cassiel Ato Forson, has announced that no government contract will be approved without prior commencement authorisation from the Ministry of Finance, in a move aimed at tightening fiscal discipline and curbing unapproved public expenditure.

The directive, which takes effect on April 3, 2025, was delivered at a meeting with senior officials from Ministries, Departments, and Agencies (MDAs), where Dr Forson signalled a break from past practices that allowed contracts to be awarded without rigorous financial oversight.

“You cannot award contracts without the express approval of the Ministry of Finance. No commencement certificate, no procurement,” the Finance Minister stated.

The measure, he noted, is not merely an administrative adjustment but a legal requirement under the Amended Public Financial Management Act, 2025.

Officials found circumventing the new rule will face consequences, as the government seeks to prevent fiscal slippages that have contributed to past budget overruns.

“The Ministry of Finance will no longer take the fall for fiscal indiscipline,” Dr Forson said, underscoring his commitment to enforcing stricter controls on public spending.

RelatedPosts

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana

Government Reintroduces Free Cocoa Fertiliser Programme to Boost Sector Growth

President Mahama Directs Ministers to Fast-Track Rollout of Ghana’s E-Visa System

Ghana has long grappled with concerns over inefficient public procurement and the accumulation of liabilities outside the approved budget framework.

The latest directive aligns with broader efforts to enforce transparency and accountability in state expenditure.

“We are among the privileged few. We cannot continue to subject our people to hardship through poor governance and financial mismanagement,” he added, calling on public officials to uphold fiscal responsibility.

The move is expected to bring greater scrutiny to government contracts, ensuring that spending remains within budgetary limits and aligns with national economic priorities.

Tags: Finance Minister Imposes New Approval Requirement for State ContractsFinance ministryState Contracts

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

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

Nigeria Hits Panic Button as West Africa Logs $2.1bn in Suspicious Crypto Transactions

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana

2025 Mid-Year Economic Review: Fiscal Discipline is a Necessary Pain

Ledecky’s Heroics Highlight Underwhelming US Campaign at World Aquatics Championships

Trending

Business

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana

August 4, 2025

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana The Criminal Investigations Department (CID)...

Government Reintroduces Free Cocoa Fertiliser Programme to Boost Sector Growth

August 4, 2025

President Mahama Directs Ministers to Fast-Track Rollout of Ghana’s E-Visa System

August 4, 2025

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

August 4, 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

August 4, 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

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.