AfDB cautions that poor fiscal controls threaten continent’s development vision

The African Development Bank (AfDB) has warned that fragile public financial management systems are endangering Africa’s growth ambitions, urging governments to enforce stronger fiscal controls.

The appeal was made in Nairobi during the launch of a training programme on public financial management, where officials from the Bank underscored the urgency of reforms in budgeting, procurement, accounting, and reporting.

They argued that transparency and efficiency in these areas remain critical for the continent’s development journey.

Legesse Eshetu Yimer, who serves as the Bank’s Division Manager for Financial Management, told participants that the Public Expenditure and Financial Accountability (PEFA) framework now plays a pivotal role in evaluating risks and charting reforms.

He explained the essence of accountability by noting: “Our responsibility is to ensure that resources entrusted to us are used for their intended purposes, with integrity and transparency."

The call for stronger discipline was echoed by Alex Mubiru, Director General of the Bank’s East Africa regional office.

He stressed that fiscal order is inseparable from the continent’s long-term aspirations.

“Without sound financial systems, the aspirations of Agenda 2063, the SDGs, and Africa’s vision for sovereignty and resilience risk being undermined,” he said.

The Nairobi gathering, organised in collaboration with the PEFA Secretariat, has drawn policymakers, finance ministry officials, experts, and development partners from across Africa.

Their task is to review national systems, diagnose gaps, and agree on reforms that will shield public resources from misuse.

With the AfDB’s push, the meeting aims not only to strengthen financial oversight but also to secure the credibility of Africa’s broader development agenda.