Good Financial Governance in Africa

The Good Financial Governance in Africa programme promotes transparency and accountability in public financial management and is implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Union (EU). Its objective is to foster Good Financial Governance in Africa, more specifically to equip decision-makers in African public finance to use region-specific services, products and further education to improve financial governance.

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News | AFROPAC Acts in fighting Illicit Financial Flows in Africa

Sep, 05
0
Pan African Parliament (PAP)

AFROPAC Acts in fighting Illicit Financial Flows in Africa

By Otsile Malebaco.

An insightful presentation on fighting Illicit Financial Flows (IFFs) by the African Organisation of Public Accounts Committees (AFROPAC), Chairperson Senator Edward Dagoseh at the Pan African Parliament (PAP) in Midrand, South Africa, which was well received by the Committee on Audit and Public Accounts (CAPA) of the Pan African Parliament. AFROPAC is a network of public accounts committees and committees with similar responsibilities from all African Union member states, whose aim is to enhance parliamentary oversight and promote accountability in member states. AFROPAC was invited by CAPA to discuss areas of collaboration in fighting IFFs.

Pan African Parliament (PAP)Senator Edward Dagoseh, presenting at the Pan African Parliament (PAP) in South Africa.

Throughout the meeting AFROPAC informed the CAPA of its various commitments in fighting IFFs in Africa, including the Country Risk Profile (CRP) tool rolled-out, with Collaborative Africa Budget Reform Initiative (CABRI), African Organisation of Supreme Audit Institutions (AFROSAI) and African Tax Administration Forum (ATAF), supported by GIZ’s Good Financial Governance Programme. The CRP assessment tool will assist in identifying the IFF threats and risks for a country by assessing the regulation, capacity and governance risks elements of key public institutions. The tool will also guide public institutions in terms of the major threats and risks associated with illicit financial outflows, or illegal inflows, that affect growth and socio-economic development or discredit the financial sector.

Furthermore, AFROPAC’s suggested forming an alliance of parliamentary networks, committed to fighting IFFs to the committee, which would promote good governance in Africa. For further engagement on improving the management of public finances in Africa, AFROPAC invited the CAPA and other networks, for a side event at the AFROPAC General Meeting from 19-23 November in Kampala for a stakeholder exchange and coordination meeting on a parliamentary alliance against IFFs.

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