Report examines ten African countries’ public finance management

A new flagship report co-produced by The African Capacity Building Foundations and the African Development Bank looks ten African countries public finance management.

Entitled, “the African Financial Governance Outlook (AFGO),” the report covered Burkina Faso, Ethiopia, Ghana, Kenya, Mali, Mozambique, Rwanda, Senegal, Tanzania, and Uganda. It is themed, “Effective Public Financial Management for Sustainable Development”.

The outlook aimed at to enrich the understanding of public financial management and its contribution to good governance, with the ultimate aim of reducing poverty and delivering sustainable and inclusive economic growth.

It complements quantitative indicators with qualitative analysis to show trends over time and to explain the drivers of change in financial governance across AFGO pilot countries.

The countries were drawn from the different regions and represent different political and administrative traditions (Anglophone, Francophone, and Lusophone) to ensure a wide range of countries.

They were analyzed using a financial governance matrix that combined five financial governance arenas of Budget Governance, Revenue Governance and Internal Controls.

It also covered Public Procurement, and External Audit as well as five political governance variables of Inclusiveness, Openness, Rule Compliance, Oversight, and Capability.

One of the publishers of the Outlook, ACBF is has spearheaded and robustly coordinated capacity development programs worth some 700 million US dollars across 48 countries and 8 regional economic communities (RECs) in Africa since 1991.

ACBF has gathered the requisite experience that makes it the go-to institution for expert knowledge and human resources to facilitate the timely implementation of continental and national development agendas.

The first and overarching objective of African Development Bank is to achieve growth that is more inclusive, leading not just to equality of treatment and opportunity but to deep reductions in poverty and a correspondingly large increase in jobs. Unlocking the continent’s great potential—and increasing its chances of reaping a demographic dividend—inclusive growth will bring prosperity by expanding the economic base across the barriers of age, gender and geography.

The second objective of the Bank is to ensure that inclusive growth is sustainable, by helping Africa gradually transition to “green growth” that will protect livelihoods, improve water, energy and food security,  promote the sustainable use of natural resources and spur innovation, job creation and economic development.