The African Development Bank (AfDB) and the Pan African Federation of Accountants (PAFA) have jointly launched a $5.2m Africa public sector accountancy project to address the continent’s shortage of qualified public sector accountants and auditors.
The financial support will be provided by AfDB’s Transition Support Facility.
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Announced at the South African Institute of Professional Accountants House in Johannesburg, the project is aimed at improving financial management and consistency in accounting practices.
Its primary goals include enhancing accounting standards in African countries, developing institutional strength, and supporting professional development for those working in public sector accountancy roles.
AfDB Southern Africa director general Kennedy Mbekeani said: “Strong, transparent public financial management is essential for resilient economies and improved services for citizens.
“Through this partnership with PAFA, we are investing in the professionals and institutions that protect public resources.”
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By GlobalDataPAFA, which brings together 57 professional accountancy bodies from 47 nations, will be responsible for carrying out the programme.
It will also utilise resources from the African Professionalisation Initiative, an effort involving PAFA, the African Organisation of Supreme Audit Institutions, and the African Association of Accountants General.
Learning programmes are planned within this framework to enhance skills in the profession, alongside support for accountancy organisations in the region.
There are also plans to encourage involvement of women in public sector accountancy through specific mentoring and training activities.
The initiative is anticipated to contribute towards African Continental Free Trade Area goals by standardising qualifications and fostering skills mobility for professionals across borders.
PAFA CEO Alta Prinsloo said: “This partnership with the African Development Bank is a decisive step towards strengthening Africa’s public financial management landscape.
“By investing in the professionalisation of accountants and auditors, we are building the skills, institutions, and standards that enable transparency, trust, and effective governance. PAFA is proud to lead this work with our partners across the continent.”
Recently, a memorandum of understanding has been signed between Chartered Professional Accountants of Canada (CPA Canada) and PAFA to promote cooperation on a global level in accountancy.
