AfDB, AFROSAI-E Launch $8 Million Project To Promote Transparency And Accountability

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African Development Bank Group Board Approves More Than $1 Billion For Emergency Food Production Plan
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 The African Development Bank (www.AfDB.org) and the African Organisation of English-speaking Supreme Audit Institutions (AFROSAI-E) have officially launched a three-year support project to improve regional collaboration and coordination between public sector accountancy institutions in Africa, aimed at increasing professionalism and efficiency in the sector.

The launch of the African Financial Integrity and Accountability Support Project (AFIAP) (https://bit.ly/3b7cV1L) took place in Waterkloof Pretoria on Friday 22 July 2022. The ceremony was witnessed by the Bank’s Deputy Director-General for Southern Africa Regional and Business Delivery Office, Mbeakani Kennedy, and Meisie Nkau, Chief Executive Officer of AFROSAI-E. Several other officials from AFROSAI-E and from the Bank also attended the event.

The grant will support AFROSAI-E to carry out its mandate to professionalise public sector accountancy, and to empower Supreme Audit Institutions (SAIs) for greater audit impact and quality.  The project targets AFROSAI-E member institutions in selected English-speaking African Development Bank member countries, and will contribute to accountability in public sector management. In particular, emphasis will be placed on building public sector capacities to reinforce resilience. This support will also contribute to the African Professionalisation Initiative (API) (https://Professionalisation.Africa) to coordinate efforts to professionalize public sector accounting and auditing through the development and application of standardized tools and approaches.

The Bank’s support is in line with the objectives of itas Strategy for Economic Governance in Africa (https://bit.ly/3S4eqOG), and consistent with ongoing similar support to regional organisations for the implementation of SAIs mandates, such as the francophone equivalent  organisation, the Conseil Régional de Formation des Institutions Supérieures de Contrôle des Finances Publiques de l’Afrique Francophone sub-Saharienne or CREFIAF.

Kennedy expressed satisfaction with the project, noting that AFROSAI-E’s ongoing Strategic Plan for 2020-2024 (https://bit.ly/3zbBWkb) underlines the essence of governance and the transformation of organisational capacity of financial audit institutions, for greater impact. “In addition to promoting best standards and benchmarks in public financial management, greater efficiency as a result of this project will aid in combating illicit financial flows,” he said.

“We are excited that we will be able to scale up support for the AFROSAI-E region based on the lessons learned from interventions funded and supported through the Bank. The AFROSAI-E Governing Board also welcomes the support of the Bank, as improved capacity in the selected SAIs, will also benefit the entire region,” Nkau said.