The African Development Bank Group (AfDB) and the Pan African Federation of Accountants (PAFA) launched a $5.2 million project on Tuesday.
The partnership is to address a severe shortage of qualified public sector accountants and auditors across Africa.
The $5.2 million in funding will come in the form of a grant provided by the Bank Group’s Transition Support Facility.
Kennedy Mbekeani, Director General of the Bank’s Southern Africa Regional Development and Business Delivery Office, 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.”
Mbekeani said the Bank Group chose PAFA as a project implementing partner because it has 57 professional accountancy organisations as members, across 47 countries.
Alta Prinsloo, PAFA’s CEO, 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.”
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