Investment Oversight (GH0006)
Overview
At-a-Glance
Action Plan: Ghana Action Plan 2013-2014
Action Plan Cycle: 2013
Status:
Institutions
Lead Institution: Office of the President, Ministry of Justice and Attorney-General’s Department (MJAGD), Ministry of Finance and Economic Planning (MoFEP), PEOU.
Support Institution(s): IEA, CDD, IDEG
Policy Areas
Anti Corruption and Integrity, Anti-Corruption Institutions, Legislation, Public ParticipationIRM Review
IRM Report: Ghana 2013-2014 End of Term Report, Ghana Progress Report 2013-2014
Early Results: Did Not Change
Design i
Verifiable: Yes
Relevant to OGP Values: Yes
Ambition (see definition): Low
Implementation i
Description
Extensive economic reforms, in the past, included substantial offloading of Government interest in a large number of commercial activities. And, yet, Government still maintains significant investments in some sectors of the economy.
The perennial challenge facing Government is one of finding a mechanism for exercising close oversight and comprehensive tracking of its various investments. Under the OGen government Initiative, the Government commits to assign open and transparent tracking of its overall investment as an additional responsibility of the Policy Evaluation and Oversight Unit in the Office of the President (PEOU). The PEOU, currently, has oversight responsibility for the performance of Ministries, Departments and Agencies (MDAs) but lacks legislative backing. Actions:
• Political leadership and administrative heads to provide the PEOU with accurate and timely information.
• Organize a forum or meeting of CSOs in governance and economic policy to discuss legislative backing and additional PEOU responsibility for oversight and tracking of government investment
• Hold meeting with Attorney-General’s Department to prepare the draft legislation for the PEOU, including new function of exercising oversight and tracking of government investments.
During the OGPI plan period, Government will take steps to initiate the process for the PEOU legislative backing that clearly specifies the additional function of tracking overall government investment. Experience gained from years of monitoring MDAs will prove useful in tracking total government investments.