AfDB and PAFA Invest in African Accounting Skills
The African Development Bank (AfDB) and the Pan African Federation of Accountants (PAFA) have launched a $5.2 million initiative to address the shortage of qualified public sector accountants and auditors in Africa. The project aims to improve financial management, transparency, and governance across the continent.
The program was unveiled at the South African Institute of Professional Accountants House in Johannesburg and is funded through AfDB’s Transition Support Facility to boost accounting positions in africa.
Harmonising Standards and Building Capacity
The initiative focuses on:
- Harmonising accounting standards across African countries.
- Strengthening institutional capacity.
- Professionalising public sector accountants and auditors.
Kennedy Mbekeani, AfDB’s Director General for Southern Africa, 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.”
PAFA’s Role in the Initiative for accounting positions in africa
PAFA, representing 57 professional accountancy organisations in 47 countries, will implement the program. The initiative also leverages the African Professionalisation Initiative, a collaboration involving PAFA, the African Organisation of Supreme Audit Institutions, and the African Association of Accountants General.
PAFA Chief Executive Alta Prinsloo stated:
“By investing in the professionalisation of accountants and auditors, we are building the skills, institutions, and standards that enable transparency, trust, and effective governance.”
Skills Development Workshops and Certification Courses
The program will roll out skills development workshops, strengthen professional accountancy organisations, and promote women’s participation through mentorship and specialised training.
It is also expected to support African Continental Free Trade Area (AfCFTA) goals by standardising qualifications and enabling skills mobility across borders.
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This story was first reported by APA News. Read the full article here.
