In 2015 a Public Expenditure and Financial Accountability (PEFA) assessment was conducted by International Monitoring Fund (IMF) and a full detailed report was presented to the Government. PEFA recommendations were aligned with the Government policy; Vision 2050 and the Medium Term Development Plan (MTDP) 2030. In the report action items were aligned to sectors and assigned to agencies for implementation.
Financial Management Reforms were given to the Finance Department to implement as the lead agency on financial management matters.
Since 2015 and the creation of the PEFA Report, the Finance Department has taken the leadership role in carrying out massive reforms in the Public Finance Management (PFM) space, with the support of donor agencies. The PFMA reform drive really got into gear in 2016 and, so far, the PFMA has been amended, non-tax revenue management legislation has been passed and operation and new procurement law has been passed and will soon be commenced.
Public Money Management Regularization (PMMR) is a financial control system introduced by the government as part of the financial reforms process arising out of the Public Expenditure & Financial Accountability (PEFA) assessment in 2015, to ensure an effective and efficient regulation of Non-Tax Revenue derived from fees and charges imposed by state agencies and the timely remittance of these revenues into the governments Consolidated Revenue Fund…Readmore
In 2016 a massive transformation and overhaul of the Public Finances (Management) Act was completed. After wide consultation and awareness building, a Public Finances (Management) Bill and an NEC submission were prepared and submitted to the National Executive Council (NEC) for their endorsement. NEC endorsed the submission of the Bill to be presented in Parliament; and it was tabled in Parliament which was passed in August 2016…Readmore
In 2017 a National Procurement Policy (NPP) was drafted and submitted to the National Executive Council (NEC) for deliberation. The NEC endorsed the Policy and this paved the way for a drafting of a new a National Procurement Bill 2018 which was passed in Parliament in November 2018.
The purpose of the establishment of the National Procurement Act 2018 is to centralize all government procurements in a more coordinated way…Readmore
Public Finances (Management ) Act, 1995 (as amended) (PFMA) provides for the Finance Departmental Head may issue Financial Management Manuals (FMM), not inconsistent with the PFMA, for instruction and guidance on the implementation of any matter provided for in this Act for the better control and management of public moneys and…Readmore