The African Development Bank has approved the creation of a virtual academy to build public financial management capacity in African countries. Countries will receive technical assistance through structured, targeted, dedicated and local training as well as through policy dialogue.
The academy, hosted within the African Development Institute of the African Development Bank Group, will deepen partnerships with the International Monetary Fund, the World Bank and African countries to improve public financial management practices in Africa. Other implementing partners include key regional public financial management institutions, regional technical assistance centres, universities and national public administration training institutes.
The training, technical assistance and policy dialogue delivered by the academy will cover upstream and downstream issues in the public financial management cycle, tailored to the specific needs of African countries.
The training modules will cover macroeconomics and planning; fiscal policy forecasting and modelling; prudential budgeting and expenditure management; domestic and external revenue mobilisation; debt management and transparency; public-private partnerships in public finance management; strengthening supreme audit and accountability systems; and curbing corruption and illicit financial flows. In addition, cross-cutting issues will also be considered, including institutional, legal and regulatory processes and human capacity governance.
The beneficiaries of the training cover the entire African civil service – including technical and political leaders who have the power to influence and change the public financial management systems of African countries. Thus, the academy will welcome technical public finance managers and senior officials from the ministries of finance, national planning, budget directorates, debt management directorates and revenue-generating agencies, including tax and customs administrations.
In addition, the academy will target all officials involved in the expenditure chain (officials from national treasuries, administrative and financial directorates of ministries responsible for expenditure and financial control), officials from central banks and sectoral ministries such as the environment. Also targeted are relevant agencies, parliamentarians, academics, private sector leaders and civil society organisations, as well as think tanks.
The academy will also provide the necessary technical assistance to relevant institutions responsible for public finance management. It will seek out and establish partnerships with national public administration training institutes to effectively deliver tailor-made capacity-building programmes for civil servants.
“The establishment of the public finance management academy will go a long way in addressing the long-standing capacity gaps in public financial management practices across African countries,” said Prof. Kevin Chika Urama, Acting Chief Economist and Vice President for Economic Governance and Knowledge Management of the African Development Bank. “It will enable the Bank to leverage resources (skills, competencies, and finance) from sister multilateral development banks, international and African public financial management institutions to provide cutting-edge training, technical assistance and policy advice, embedded in the local realities of African countries.”Click below to share this article