24 Oct 2022

 A large percentage of revenue collected in African countries is lost mainly due to poor project planning and management as well as corruption and wastage.

  This was said Minister of Finance Ms Peggy Serame when opening the SADC Organisation of Public Accounts Committees (SADCOPAC) conference and annual general meeting in Gaborone yesterday.

  “Although part of the revenues collected in African countries actually go to the public in the form of public goods and services, much of the revenue gets lost to spending on poorly conceived, poorly planned and poorly prepared projects, corruption and general waste,” she said.

   Ms Serame therefore called for improved checks and balances stressing that SADC parliaments should play their public finance management role through structures such as the public accounts committee.

She advised public accounts bodies to develop strong and effective public finance management systems.

“Where the role of parliamentary oversight of finances is unclear, regulatory reforms should clarify parliamentary roles and responsibilities for finances as an important aspect of democratic governance,” said Ms Serame.

The minister emphasised the need for public financial management reforms to address new challenges resulting from increased economic development and rising civic expectations.

However, she noted that reforming public sector institutions in terms of structures, policies, processes and practices was difficult due to the fact that the focus had always been on efficient resource allocation. 

Among the challenges, Ms Serame mentioned lack of leadership and political support, staff shortages, training and retention, poor reward systems and weak public financial management infrastructure.

   Botswana's PAC chairperson and Leader of Opposition in Parliament, Mr Dithapelo Keorapetse said PACs were an integral part of the democratic system with the mammoth responsibilities of public financial oversight and ensuring good governance.

He described SADCOPAC as an autonomous and independent entity established to promote mutual support and foster the exchange of ideas, knowledge and experiences.

The organisation should be seen and understood within the noble principle of regional integration, Mr Keorapetse said.

SADCOPAC chairperson, Mr Warren Mwambazi said the organisation had made strides in ensuring that member states accounted for scarce public resources.

The conference, which commenced yesterday, will run until Friday.ENDS