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Africa’s fiscal landscape is on the cusp of a revolution, driven by the adoption of digital public infrastructure (DPI) and fintech solutions. The continent’s financial systems are set to undergo a significant transformation, enhancing financial inclusion, transparency, and efficiency.
The African Association of Accountants General Conference highlights the need for governments to leverage technology-driven financial reporting to achieve deeper fiscal transparency and long-term economic stability. Experts stress that real-time, standardized data is crucial for transforming how policymakers and civil servants interpret financial information.
Mobile money platforms and digital payment systems are already making significant strides in Africa. For instance, M-Pesa in Kenya demonstrates the potential for mobile-based financial services to increase financial inclusion.
To harness the potential of tech tools in public finance, African governments must prioritize investments in digital infrastructure, regulatory frameworks, and capacity building. This includes establishing seamless data-exchange systems, ensuring tax administrations have the necessary tools and capacity to utilize data effectively, and promoting collaboration between fintech companies, traditional banks, and regulatory bodies.
The final day of the 3rd African Association of Accountants General Conference has highlighted a decisive call for African governments to embrace technology-driven financial reporting as a pathway to deeper fiscal transparency and long-term economic stability.
Under the theme “Africa of Tomorrow: Positioning PFM for Economic Prosperity,” experts reiterated that accountability in public finance must evolve in tandem with technological advancement.
Speaking at the conference in Accra, Director of Public Financial Management at CIPFA-UK, Mr. Iain Murray, stressed that technology is redefining how governments track taxation, spending, and the real impact of fiscal decisions on citizens. He noted that while many countries often “forget the citizen” in public financial debates, modern tools offer an opportunity to reconnect financial reporting with the lived realities of the people it is meant to serve.
Mr. Murray identified real-time, standardized data as one of the most urgent needs in Africa’s public sector, explaining that integrated datasets can transform how policymakers and civil servants interpret financial information.
Dashboards, he said, give leaders clearer insights into how funds are allocated and what outcomes they produce, insights that historically have been fragmented or delayed.
He also highlighted rising interest in block chain for public sector reporting, describing it as a promising technology for ensuring traceability and strengthening public confidence, though not a “silver bullet.”
According to him, block chain’s transparency features could support cleaner reporting practices, but governments must approach it cautiously and responsibly.
