Deputy Minister for Finance, Ms Mona Quartey has underscored the importance of an efficient and transparent procurement system in ensuring the achievement of Ghana’s pursuits in economic development.

The Deputy Minister said various surveys and studies had attributed the failure of procurement systems to achieve good value for money and economic growth within Sub-Saharan Africa to incomprehensive regulatory rules and inefficient processes for contract administration.

She was speaking at the Public Procurement Authority’s (PPA) annual forum to educate stakeholders on how to enhance the efficiency and effectiveness of procurement systems.

The eight annual forum is on the theme, “Act 914: Transitioning into a Vibrant Public Procurement Systems in Ghana."

To address those challenges, the Public Procurement Act (Act 663) was passed in 2003 and that had contributed significantly to strengthen the entire public procurement system.

Mrs Quartey said the theme was appropriate because since the 1990s, the Government had embarked on a number of initiatives to reform the public procurement system as a key component of public financial management reforms.

She said the passage of the Public Procurement Act, 2003 (Act 663) and the establishment of the PPA set the tone for a massive take-off of the effective procurement management in Ghana.

“A cursory look at the operations of the procurement law for a decade shows that PPA has since not relented to make the reforms work,” she said.

Mrs Quartey noted that procurement failure would adversely affect the economic development process.

“The Public Procurement law has been operational over the past 10 years,” she said.

“Through implementation of the law, public procurement so far has been done in a more transparent, fair and competitive manner and this contributed positively to our procurement system.

“This notwithstanding, there has also been some challenges with the implementation of the law. These challenges related to complaints from varied stakeholders and perception of corruption surrounding the procurement processes.

“The key among them are low approving thresholds, unfair competition, and perception of corruption.”

Mrs Quartey noted it was appropriate and timely that the 2003 Public Procurement Act had been amended to enhance the functionality and efficiency of the procurement system and commended the PPA for the good work done in the midst of all the challenges.

Mr Samuel Sallas-Mensah, the Chief Executive Officer of PPA, who has ended his term of tenure, thanked the members of the governing board, management and staff of PPA, the development partners, the media and the Civil Society and the Finance Ministry for their active support and contributions.

“My prayer is that you will sustain this momentum as we work together to see our nation Ghana become Great and Strong…,” he pleaded.