The Ministry of Finance has directed all covered entities and public institutions to comply strictly with Public Investment Management (PIM) requirements before seeking approval for capital expenditure projects.
In a circular dated October 30, 2026, and signed by the Deputy Minister for Finance, Thomas Nyarko Ampem, the ministry reminded institutions that capital expenditure (CAPEX) projects must satisfy all applicable public investment planning requirements prior to obtaining Commitment Authorisation from the Minister for Finance.
The directive stated that under the Public Financial Management Act, 2016 (Act 921) and the Public Financial Management Regulations, 2020 (L.I. 2411), public institutions are required to comply with prescribed procedures for the preparation, appraisal and inclusion of projects in their respective Public Investment Plans (PIPs).
According to the ministry, requests for Commitment Authorisation relating to capital expenditure must be linked to projects that form part of an institution’s approved Public Investment Plan.
“This requirement is expressly included among the Ministry’s requirements for processing Commitment Authorisation applications,” the circular noted.
The ministry explained that some requests for Commitment Authorisation for CAPEX projects that had not received approval would not have been honoured because the proposed projects had not gone through the applicable public investment planning processes.
It stressed that only projects that have undergone the required appraisal and approval procedures and are duly reflected in approved Public Investment Plans should be submitted for Commitment Authorisation.
The directive further called on all public institutions to ensure full adherence to the regulations to enhance accountability, transparency and effective management of public investments.
The circular was addressed to all Chief Directors, Chief Executives and heads of covered entities, with copies sent to senior officials of the Ministry of Finance.
The ministry expressed confidence that strict compliance with the directive would strengthen public investment management and ensure that government-funded capital projects align with national development priorities.