Gov’t to slash contractor payment time to 15 days by 2026

By Kingsley Webora TANKEH

The Controller and Accountant-General, Kwesi Agyei, has indicated that government is committed to slashing the contractor payment time from 90 days to just 15 days after submission of completion certificates – by January 2026.

He made this pledge at the 3rd Annual Conference of the African Association of Accountants-General (AAAG) closing ceremony, which has just concluded in Accra.

“Payment time is maybe contracted in just 15 days, but ours is 90 days and we are supposed to arrive in January,” Mr. Agyei stated, framing the move as critical to rebuilding the “trust” he identified as a form of capital.

“When PFM practices are working very well it affects revenue, so we are able to block the leakage,” he asserted.

Africa’s top accountants and public financial managers at the just-ended 2025 African Association of Accountants-Generals (AAAG) Conference adopted the landmark Accra Resolution, promising to launch a coordinated attack on the demons stifling the continent’s development – corruption and ballooning national debt.

The resolution, seen by Business and Financial Times (B&FT), is a comprehensive continental blueprint for reform – targetting everything from the adoption of Artificial Intelligence (AI) in Treasury management and a full transition to IPSAS accounting and enhancing debt sustainability by adopting fiscal responsibility frameworks, including maintaining budgets within sustainable limits and conducting regular Debt Sustainability Analyses (DSAs).

The Accra Resolution also promised coordinated national strategies to combat illicit financial flows, strengthened inter-agency collaboration and enhancing cross-border cooperation. It is estimated that Africa loses US$88.6billion annually to illicit financial flows (IFFs).

The Accra Resolution, developed over three days of intense dialogue, positions Public Financial Management (PFM) as the “nervous system of government”, stressing that it must be fortified. The resolution is a response to urgent calls for action voiced by leaders at the conference.

The Head of the Office of the Civil Service, Dr. Evans Aggrey-Darko, emphasised the non-negotiable need for ethical leadership, lamenting conservative mentality. He said: “Patriotism will not take you to the market”.

He argued that trust is the bedrock of development. “If you have five S-Class cars from your wife who doesn’t trust you, it’s a major security challenge. So how do we build trust? We build trust for the institutions we deliver,” he said.

Dr. Aggrey-Darko revealed that government is actively considering an overhaul or replacement of the Ghana Integrated Financial Management Information System (GIFMIS).

“We are arguing that somehow we need to reform it or we need to replace it. That’s what we’re doing and the discussions are ongoing,” he stated, signalling a potential upgrade to the core system meant to ensure transparent and accountable financial management.

Furthermore, Mr. Agyei highlighted the existential threat posed by debt servicing that consumes over 50 percent of government revenue, stating it “crowds out poverty-alleviating government projects”.

The Accra Resolution now establishes a clear reporting mechanism, requiring that countries report annually to the AAAG on their progress – particularly on IPSAS adoption – with a comprehensive Continental PFM Reform Roadmap (2026-2030) to be developed.

However, Dr. Aggrey-Darko cautioned that a vision not translated into action remains merely a vision, identifying implementation as the “actual part of the policy cycle”.

The post Gov’t to slash contractor payment time to 15 days by 2026 appeared first on The Business & Financial Times.

Read Full Story