TOR ranks second in Ghana's public financial compliance league table
The Ministry of Finance has released a new league table ranking public institutions on financial compliance. The initiative aims to boost transparency and accountability in how public funds are managed. Tema Oil Refinery (TOR) secured second place in the latest assessment.
The Public Financial Management (PFM) Compliance League Table evaluates institutions based on their adherence to financial rules. The rankings highlight both high performers and those needing improvement, pushing for stronger enforcement where gaps exist.
The Environmental Protection Authority (EPA) took the top spot, followed by TOR in second. The Ministry of Energy and Green Transition ranked third. TOR attributed its success to strict financial practices and a focus on accountability.
A statement from TOR thanked staff and stakeholders for their efforts in reaching this milestone. The company also pledged to keep up high compliance standards and good governance. The league table itself was introduced to meet the government's promise of publishing fair assessments of public financial management.
The rankings are designed to encourage better use of public money through clearer accountability. Institutions with lower scores will face calls for corrective action. The initiative reinforces efforts to strengthen fiscal discipline across the public sector.
