Ghana’s President Akufo-Addo saves ¢ 800,000,000.00 using procurement act

President Nana Akufo-Addo led administration in Ghana has saved over $169 million (GH¢ 800,000,000) using the procurement act.

The huge sum of government funds was saved by Ghana’s Ministry of Public Procurement through the strict application of the procurement law in the use of single source and restrictive tendering as a method of procurement.

The Minister of State in charge of Public Procurement, Sarah Adwoa Safo confirmed the achievement during the launch of the ministry’s website in Accra on Thursday, June 21, 2018.

"In 2017 alone, we were able to save the nation Eight Hundred Million Ghana Cedis (GH¢ 800,000,000.00) through the strict application of the procurement law in the use of single source and restrictive tendering as a method of procurement.

“Our target is to help Ghana achieve openness, fairness, integrity, and value-for-money that will enable us to achieve value-for-money in all our public procurements,” Safo told guests at the ministry’s launch.

Continuing, Safo said: “I believe that with coordinated efforts, we can make tremendous savings for the state which can equally be channeled to other sectors of the economy.”

Safo also stressed that while the Ministry of State is mandated to advise the President on Public Procurement matters and formulate concrete policies and strategies on Public Procurement, the Vision of the Office of the Minister for Public Procurement is to build and sustain efficiency in the Public Procurement System of Ghana in accordance with International Best Standards and Practices.