Public Finance Management Academy sees inaugural cohort’s graduation ceremony with a focus on accountability, transparency, and economic governance.
Prof. Kevin Chika Urama, Chief Economist and Vice President of the African Development Bank Group, lauded the significant milestone at the graduation ceremony of the first cohort of the Public Finance Management Academy (PFMA) for Africa. The event, held at the Hilton Hotels in Abuja, Nigeria, on December 14, 2023, marked a pivotal moment in enhancing fiscal responsibility across the continent.
“In this inaugural ceremony,” Prof. Urama addressed the esteemed audience, “we celebrate not just the achievements of these graduates but also the collective step towards transparency and accountability in public finance management across Africa.”
The PFMA, initiated and backed by the African Development Bank Group, aims to fortify African countries’ capacities in economic governance and knowledge management, vital for augmenting wealth creation and bolstering the management of public finances.
“The PFMA embodies our commitment,” Prof. Urama emphasised, “to not only impart technical knowledge but to instigate a change in attitudes and mindsets among policymakers. This transformation is vital to effecting the changes we seek.”
Highlighting the PFMA’s comprehensive curriculum, Urama elucidated the thematic areas covered during the rigorous 18-month programme, encompassing crucial facets of public financial management (PFM). These included domestic revenue mobilisation, budgeting and expenditure planning, sustainable borrowing, debt management, and measures to enhance transparency and curb illicit financial flows.
“The Academy provides a platform,” he remarked, “for African nations to collaborate, share experiences, and learn from each other, ensuring that PFM strategies are deeply rooted in the realities of each country.”
The graduation saw 52 public officials from 26 African countries complete the programme, earning certification as PFM experts in their respective nations. Prof. Urama commended the leadership of Dr. Akinwumi Adesina, President of the African Development Bank Group, in spearheading the PFMA’s establishment.
Expressing gratitude to the African Development Bank’s Board and institutional partners for their unwavering support, Urama stressed the collective efforts required in the journey towards comprehensive transparency and accountability in PFM ecosystems.
The ceremony coincided with a broader agenda, including discussions among African finance ministers and debt managers to establish an African Debt Management Initiative Network, emphasising ownership and commitment in its implementation.
As the event concluded, Prof. Urama urged the graduates to champion Africa’s stride towards full transparency and accountability, reinforcing the imperative for collective action to mobilise and effectively manage resources for the continent’s prosperity.
“Today, as we celebrate your achievements,” Prof. Urama concluded, “remember, together we can illuminate the path towards Africa’s economic empowerment and prosperity.”
