Finance Minister Dr. Cassiel Ato Forson has raised fresh concerns about the persistent overpricing of government contracts, describing the issue as “endemic” and a major drain on national resources.
Speaking at a stakeholder engagement on public financial management, Dr. Forson noted that inflated contract values continue to undermine Ghana’s fiscal stability, weaken investor confidence, and limit the government’s ability to fund essential sectors such as health, education, and infrastructure.
According to him, the practice often facilitated through weak oversight systems, collusion among contractors, and limited transparency in procurement processes has cost the country billions over the years. He stressed that Ghana cannot achieve economic discipline or sustainable development if public funds are consistently lost through inflated project costs.
Dr. Forson announced that the Ministry of Finance will intensify reforms aimed at tightening procurement procedures, strengthening value-for-money audits, and improving digital tracking of public projects to eliminate loopholes that allow overpricing to thrive.
He further called on public officials, auditors, contractors, and civil society groups to support a national push for accountability, insisting that eliminating waste in the system is critical to rebuilding public trust and restoring economic stability.
The minister added that as Ghana works to stabilize its economy, ensuring fair pricing of public contracts must become a collective responsibility.