Stakeholders Conclude Public Financial Management in Africa Conference and Training

Addis Ababa, Ethiopia, 14 November 2024 (ECA) - Stakeholders concluded the Africa Public Financial Management (PFM) Conference and Public Expenditure and Financial Accountability (PEFA) Flagship Training, held from November 11 to 15 in Addis Ababa. This event aimed to unite policymakers, practitioners, and experts across Africa to enhance the efficiency, accountability, and transparency of public resource management.

Speaking at the opening, Zuzanna Schwisdrovsky, Director of the Macroeconomic, Finance and Governance Division said: "The IFFs report emphasized the global challenges that require global solutions, and collaboration between African countries and advanced economies will be needed"

She added: "Public financial management is critical for governments to deliver effective services while maintaining fiscal discipline. The PEFA framework serves as a standardized assessment tool that empowers governments and financial institutions to evaluate and improve their financial management systems, aligning them with international best practices."

"To address the issue, the ECA has been working with the African Union Commission towards establishment of an African Credit Rating Agency as part of the efforts to improve the treatment of African countries in credit rating arena", concluded Zuzana Schwisdrovsky.

"Africa is not merely a part of the world; it is its future. The continent's success hinges on effective management of public finances, and the 2024 Africa PFM Conference in Addis Ababa, cohosted with esteemed partners, is a pivotal step towards ensuring that Africa thrives and contributes to global prosperity," said Srinivas Gurada, Head of PEFA Secretariat.

Adding that "As we unveil the English version of the groundbreaking PEFA Climate framework today in Addis Ababa, we take a monumental step towards integrating gender and climate considerations into government budgets. This initiative marks the dawn of a new era for Africa and the world, where financial accountability becomes synonymous with climate responsiveness."

This conference's primary objective was to facilitate a comprehensive dialogue on enhancing PFM systems through effective utilization of diagnostic tools and the PEFA framework. By bringing together a diverse array of stakeholders, including government officials, international experts, and representatives from financial institutions, the event aimed to promote knowledge sharing and collaboration.

Furthermore, the conference sought to establish a strong network among professionals in the PFM and PEFA fields, laying the groundwork for ongoing cooperation and support. The workshops and discussions were designed to highlight the latest trends and challenges in PFM, while also identifying opportunities for reform and capacity building.

"ECA would like to thank the World Bank's Governance Department for the support in strengthening financial accountability among Member States - we look forward to more collaboration", said Gamal Eltaib Ibrahim, at the training's conclusion on Friday, from ECA.

Issued by:
Communications Section
Economic Commission for Africa
PO Box 3001
Addis Ababa
Ethiopia
Tel: +251 11 551 5826
E-mail: [email protected]