Financial governance: optimistic steps

Fruit of an agreement signed between the State of Cameroon and the French Development Agency, the Financial Governance Support Project (PAGFI 2), now in its second phase and piloted by the Ministry of Finance, shows a positive balance sheet.

Take stock of the work carried out between October 2019 and February 2020 and approve the strategic orientations to be followed in 2020. These are essentially what should be remembered of the 2nd session of the Steering Committee of the second phase of the Support Project for Financial Governance (PAGFI 2), chaired by the Minister of Finance, Louis Paul MOTAZE, on Wednesday 24 June 2020 at the Yaoundé Hilton hotel.

The Financial Governance Support Project, funded by the Government of the French Republic to the tune of CFAF 2,623,828,000 and masterfully piloted by the Cameroon Ministry of Finance, aims to strengthen the capacities of the State, to control and master the execution of its budget through accounting reform and the optimization of cash flow, the Minister of Finance recalled in his opening speech.

Eight months of intense activity after the holding of the first session on 29 October 2019, we can cite as results – the elaboration of the instruction on the general State accounting and – the adoption of the computer architecture to support the accounting reform, placed under the responsibility of technical teams instructed by the Minister of Finance, and who have worked hard despite the restrictions imposed by the health crisis.

It should also be noted the start of work to set up internal accounting control and those of the inventory and valuation of State assets as a prelude to the transition to asset accounting or even work to define the new architecture of the single treasury account, which are, moreover, the remaining challenges.

The Presentation of the Budgeted Annual Work Plan (BAWP) for the period from 1 March to 31 December 2020, as well as the presentation of the mechanics of the remote missions which concluded the discussions.