The Minister for Finance Dr. Cassiel Ato Forson has announced the establishment of a dedicated Compliance Desk within the Ministry of Finance to monitor and enforce adherence to the newly upgraded Public Financial Management (PFM) Act, 2025.
This announcement was made during a meeting with the World Bank Africa team, led by Vice President Ousmane Diagana.
The meeting followed the successful National Economic Dialogue, which was held with strong support from the World Bank.
Addressing the gathering, Dr. Forson stressed the urgent need to tackle fiscal indiscipline, particularly among covered entities that have been awarding contracts without obtaining the legally required commencement certificates. These practices, he said, have led to serious inefficiencies and budgetary shortfalls.
To curb these issues, a key amendment to the PFM Act now authorizes the Ministry of Finance to issue commencement authorisations, marking a significant shift in fiscal oversight.
More importantly, the Ministry is instituting a Compliance Desk that will track and evaluate whether ministries, departments, and other covered entities comply fully with the new law.
The Compliance Desk will also maintain a Compliance League Table, which will publicly rank institutions based on their adherence to financial regulations.
Persistent non-compliance will attract sanctions, the Minister warned, reaffirming the government’s commitment to transparency and accountability in public finance.
“We are determined to ensure that every programme we implement delivers maximum efficiency and impact,” he said. “This is how we build a disciplined and prosperous Ghana.”
Vice President Diagana congratulated the Minister on his recent nomination and praised Ghana’s ongoing fiscal reforms.
He reaffirmed the World Bank’s strong partnership with Ghana, describing the country as a beacon of stability and progress in the region.
The new Compliance Desk is expected to begin operations in the coming weeks.