NAIROBI, Kenya– The African Development Bank (AfDB) has called for stronger public financial management systems across the continent, warning that weak oversight of resources could derail Africa’s development ambitions.
At the opening of a flagship training on financial governance in Nairobi, Bank officials stressed that accountability, transparency, and prudent use of funds are not just bureaucratic requirements but the backbone of sustainable growth.
“At the heart of the Bank’s fiduciary mandate lies a simple but profound responsibility; to ensure that the resources entrusted to us are used for their intended purposes, with integrity, transparency, and efficiency,” said Legesse Eshetu Yimer, Division Manager for Financial Management at AfDB.
He noted that the Public Expenditure and Financial Accountability (PEFA) framework has become central to how the Bank evaluates country risks.
“These assessments provide us with an evidence-based picture of how PFM systems are performing and where critical reforms are needed. Importantly, they feed directly into how the Bank engages in countries and supports reforms aligned with national strategies,” he said.
The remarks come as several African governments grapple with widening fiscal deficits, rising debt, and scrutiny over the efficiency of public spending.
Analysts say that without stronger controls, Africa’s ambitious development agenda could face financing shortfalls.
Alex Mubiru, Director General of the AfDB East Africa Regional Office, underscored the urgency of building stronger fiscal institutions.
“Public Financial Management is therefore not just a technical area it is a cornerstone of development. Without sound budgeting, procurement, accounting, auditing, and reporting systems, the aspirations of Agenda 2063, the SDGs, and our own strategic vision for ‘A STRONGER, SMARTER, and SOVEREIGN AFRICA’ risk being undermined,” Mubiru said.
The lender argued that capacity-building initiatives must translate into real reforms on the ground, noting that equipping finance officials with skills is vital to enhancing resilience.
The Nairobi forum, co-hosted with the PEFA Secretariat, has brought together finance ministry officials, development partners, and experts from across Africa to examine practical ways of strengthening fiscal systems.
