Transforming Africa’s economic future and building resilient economies depends on continuous reforms in Public Financial Management (PFM) practices to block revenue leakages and enhance government revenue, the Controller and Accountant-General, Mr. Kwesi Agyei, has emphasized.

“The Africa we envision depends on our economic development, our global accountability, and the continuous reform of our PFM practices,” he stated during the closing ceremony of the 3rd African Association of Accountants (AAA) General Conference. The three-day conference was held under the theme “Africa of Tomorrow: Positioning PFM for Economic Prosperity.”

Mr. Agyei stressed the importance of embedding technology and innovation to strengthen PFM frameworks across African countries, which would help curb revenue and tax leakages. Effective revenue mobilization, he noted, would enable governments to meet financial obligations, pay contractors and salaries on time, and reduce persistent arrears that challenge many African economies.

He further highlighted the need for strategies that boost domestic revenue generation to meet growing salary and expenditure demands. “Salaries remain the single highest recurrent expenditure for most governments, which poses a risk to fiscal discipline and can crowd out private sector growth,” he explained. Prudent management and accountability, Mr. Agyei added, could accelerate Africa’s growth and attract sustainable investment, as the continent is endowed with substantial capital and resources.

The Controller and Accountant-General urged his colleagues to uphold the five pillars of trust, transparency, accountability, competence, ethical leadership, and citizen engagement. These principles, he noted, are vital for promoting fiscal discipline, building credibility in national budgets, and ensuring long-term debt sustainability.

In his keynote address, Dr. Evans Aggrey-Darko, Head of the Office of the Civil Service, highlighted that the conference theme aligns strongly with Africa’s aspirations for growth and development. “Growth is what we seek. Good governance is what we seek. Bringing dignity to our people is what we seek. If the government cannot address the fundamental problems of society, it has no business being government,” he remarked.

Dr. Aggrey-Darko also noted Ghana’s progress in strengthening its PFM systems, particularly through the Ghana Integrated Financial Management Information System (GIFMIS), which provides a transparent and accountable financial framework. He encouraged participants to apply the knowledge gained from the conference within their respective institutions, emphasizing that meaningful change begins at national and organizational levels.

The AAA was commended for hosting the conference in Ghana, bringing together policymakers, practitioners, and dignitaries, including the President of Ghana. As part of the programme, Eswatini was announced as the host of the next AAA General Conference in 2026.