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March 23, 2026
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EPA, TOR lead as Finance Ministry ranks public institutions on financial compliance
Money
Policy
Key Points
- The Ministry of Finance has introduced its first Public Financial Management (PFM) Compliance League Table, ranking state institutions on adherence to financial regulations.
- This initiative, stemming from commitments in the 2025 Budget, aims to boost transparency, accountability, and fiscal discipline across the public sector.
- Top performers include the Environmental Protection Authority, Tema Oil Refinery, Ministry of Energy, and GNPC, while many others like Ghana Health Service were moderately compliant.
- Several key institutions, including the Ghana Revenue Authority, University of Ghana, and Korle Bu Teaching Hospital, were classified as least compliant.
- The Ministry has warned that institutions with persistent compliance gaps will face targeted interventions and stricter enforcement measures to drive reforms.
Why This Matters
This initiative is crucial for Ghana as it introduces a new level of public accountability and transparency in the management of state funds. By publicly identifying and addressing financial compliance weaknesses, it aims to reduce corruption, improve resource allocation, and strengthen public trust in government institutions, ultimately fostering better governance and more efficient use of taxpayer money.
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- The Minister for Roads and Highways announced a full reconstruction of sections of the Eastern Corridor Road.
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75 Bank staff dismissed as fraud cases surge 48% – Bank of Ghana report
- Fraud cases in Ghana's financial sector surged by 48% in 2025, reaching 24,778, according to the Bank of Ghana's report.
- This increase was predominantly driven by the Payment Service Providers (PSPs) sector, which saw a 98% rise in incidents and a 95% increase in value at risk.
- While banks and Specialised Deposit-Taking Institutions (SDIs) reduced incident numbers, their value at risk increased due to specific issues like cash suppression and forgery.
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- The Bank of Ghana calls for unified efforts from all stakeholders, enhanced regulatory frameworks, and improved supervision to combat evolving fraud risks in the increasingly complex financial landscape.