Finance Minister Gwengwe hails IFMIS

By Staff Reporter

Minister of Finance Sosten Gwengwe says the new Integrated Financial Management Information Systems (IFMIS) supported by Germany Government will help in management of the Accountant General’s office by among others reducing issues of corruption.

Gwengwe made these remarks today during inauguration of the IFMIS Training Laboratories at the Regional Treasury Cashier in Lilongwe.

“We are grateful for the support of the German government in establishing the Ifmis Laboratories, which require well-trained individuals to oversee payment processes for all Ministries, Departments, and Agencies (MDAs). By investing in the training of our accountants, we have strengthened our financial management capabilities.

The IFMIS Laboratories represent a significant milestone in our efforts to achieve greater accountability and transparency in our government’s financial operations,” Gwengwe said.

He said currently, they are targeting to train around 3500 more accountants to build on 1600 who are already trained.

Germany Parliamentary State Secretary to the Federal Ministry for Economic Cooperation and Development, Barbel Kofler, said her Government is committed to continue supporting public financial management reforms in Malawi.

“The Germany government recognizes that effective financial management is a fundamental cornerstone of development and establishing a strong and stable financial foundation in the country will ensure efficient and accountable management of public resources,” Kofler said.

The Accountant General Henry Mphasa extended his appreciation to the German Government for their collaboration and support of new IFMIS saying it has helped resolve challenges of financial processes for payments which are now faster and more efficient.


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