President John Dramani Mahama has announced plans to put an end to the misuse of single-source procurement in government contracts, describing it as a major drain on the country’s finances.
Speaking at the National Economic Dialogue (NED) 2025, Mahama emphasized the need to address wasteful spending to stabilize the economy.
President John Mahama cited a recent example where 10,000 units of poultry farming equipment were procured without competitive bidding, resulting in a contractor purchasing each unit for GH₵4,500 but selling them to the government for GH₵6,600, pocketing an extra GH₵21 million.
“How can you do this? If this was your own company, would you run it this way?” Mahama asked, stressing that such practices must stop.
He noted that single-source contracts will only be allowed in genuine emergencies.
He said his administration plans to introduce value-for-money audits on government projects above a certain threshold to prevent inflated costs and corruption.
President Mahama also emphasized the need to review Ghana’s procurement laws to curb waste and promote financial discipline in public spending.
The National Economic Dialogue 2025, themed “Resetting Ghana: Building the Economy We Want Together,” brought together government officials, business leaders, economists, industry experts, and development partners to discuss key economic issues, including macroeconomic stability, job creation, private sector growth, and economic governance reforms.
-BY Daniel Bampoe
