{"id":95239,"date":"2025-09-22T08:05:12","date_gmt":"2025-09-22T08:05:12","guid":{"rendered":"https:\/\/sotnews.agency\/?p=95239"},"modified":"2025-09-22T08:05:12","modified_gmt":"2025-09-22T08:05:12","slug":"government-moves-to-curb-gh%c2%a22-36bn-annual-losses-in-procurement-deputy-finance-minister","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=95239","title":{"rendered":"Government moves to curb GH\u00a22.36bn annual losses in procurement \u2013 Deputy Finance Minister"},"content":{"rendered":"
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The government is rolling out sweeping reforms in the public procurement system to tackle the billions of cedis lost annually through irregularities, Deputy Minister for Finance, Thomas Nyarko Ampem, has announced.<\/p>\n

Delivering a keynote address at the National Procurement and Supply Conference, Mr. Nyarko Ampem cited a Ghana Institute of Procurement and Supply (GIPS) report that revealed the country loses approximately GH\u00a22.36 billion every year dueto procurement breaches. <\/p>\n

He described this as a drain on resources that should be used to build hospitals, schools and climate-resilient infrastructure.<\/p>\n

\u201cWhy are we spending more on inefficiencies and infractions than on the most vulnerable in our society? Procurement inefficiencies rob us of opportunities to create jobs and expand access to critical services,\u201d the Deputy Minister said.<\/p>\n

He noted that irregularities such as unauthorized procurements, inconsistent evaluations, poor supervision, and vague specifications designed to favour certain suppliers have become widespread. These, he warned, undermine development and public trust.<\/p>\n

To reverse the trend, he said government has amended the Public Procurement Act to make commencement certificates and budgetary allocations prerequisites for all central government-funded procurements. The Ministry of Finance has also set up a PFM Compliance Division to enforce adherence through the Ghana Electronic Procurement System (GHANEPS).<\/p>\n

\"Government<\/figure>\n

Mr. Nyarko Ampem further disclosed that the Cabinet is considering the Procurement Practicing Bill, which will professionalise procurement, curb malpractices and embed sustainability and anti-corruption safeguards. \u201cThis legislation is expected to raise standards and give procurement the strategic importance it deserves,\u201d he added.<\/p>\n

He also stressed that the reforms are anchored in President John Mahama\u2019s economic reset agenda and align with the 24-Hour Economy Programme, which prioritizes local production, green procurement, and job creation.<\/p>\n

The Deputy Minister urged procurement professionals to embrace technology, enforce existing laws, and focus on value-for-money. \u201cEvery insistence on local content builds industries that can compete across Africa and beyond,\u201d he said.<\/p>\n

The conference was organised under the theme \u201cTransforming Public Procurement for Sustainable Development: Policies, Practices and Pathways.\u201d<\/p>\n<\/div>\n

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\"GovernmentThe government is rolling out sweeping reforms in the public procurement system to tackle the billions of cedis lost annually through irregularities, Deputy Minister for Finance, Thomas Nyarko Ampem, has announced.<\/div>\n","protected":false},"author":1,"featured_media":95240,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12,319,9008,9009,2800,1900,10,9,7286],"tags":[],"class_list":["post-95239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-economy","category-ghaneps","category-gips","category-hp-business-5","category-hp-news-2","category-politics","category-popular","category-thomas-nyarko-ampem"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/95239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=95239"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/95239\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/media\/95240"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=95239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=95239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=95239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}