Africa-Press – Ghana. President John Dramani Mahama on Monday reminded African Accountants-General that probity and accountability are the foundation of sustainable development.
He said probity and accountability were not merely abstract ideals, but practical governance rules that protected public resources, ensure that citizens’ taxes were used responsibly, and foster confidence in national institutions.
The President said this in his key note address at the opening of the Third Conference of the African Association of Accountants General (AAAG) in Accra.
The four-day Conference on the theme: “Africa of Tomorrow: Positioning PFM for Economic Prosperity,” is being attended by 23 Accountants-General from across Africa.
The President said the theme of the Conference encouraged participants to address the evolving dynamics of global economic governance and to develop modern, adaptable, transparent, and resilient financial systems that would support the continent’s transformation.
“Africa stands at a defining moment in its history. The continent is rich in talent, resources, and potential, and yet is constrained by debt vulnerabilities, fiscal pressures, deficiencies in public expenditure, and gaps in financial reporting,” he said.
“At the same time, rapid technological progress such as digital payments, AI-enabled auditing tools, automation, blockchain, and data analytics are redefining the principles of public sector accountability.”
President Mahama said the conference was taking place at a time when Africa was seeking a new financial governance model that was not only effective but also ethical, transparent, and people-focused.
“Public Financial Management is ultimately about trust. Trust that public officers will act responsibly. Trust that every Cedi, every Naira, every shilling or franc will be accounted for. And trust that public choices reflect public priorities. No economic model can succeed without this trust. No government can build a prosperous society in its absence,” the President said.
He noted that the modern Accountant-General was no longer just a bookholder or custodian of financial entries.
“Modern Accountant-Generals are architects of national economic stability and frontline defenders of public accountability,” he said.
“Today, technology offers you powerful tools. AI-driven risk detection to flag new irregularities in real time. Digital procurement systems that reduce human discretion and corruption. Integrated financial management systems that ensure end-to-end traceability. And blockchain solutions that secure records and reduce manipulation.”
He said they also had data dashboards that improve monitoring, forecasting, and transparency.
President Mahama urged them to embrace these innovations not as optional enhancements, but as necessities for the 21st century public financial governance.
“To position Africa’s financial system for prosperity, I believe we must pursue strategic pathways, build institutions that are independent, professionally competent, operationally transparent, and protected from political interference. That’s the most important point,” he said.
President Mahama said strong institutions with clear public tools, professional autonomy, and standardized procedures ensure continuity, consistency, and credibility.
He said Africa needed greater convergence in accounting, auditing, and reporting standards because it would improve comparability, promote cross-border investments, strengthen regional blocks such as the Economic Community of West African States (ECOWAS), Southern African Development Community (SADC) and The East African Community (EAC), and facilitate continental integration under the African Continental Free Trade Area (AFCFTA).
He said a future African public finance charter would set a continental benchmark for transparency and fiscal responsibility.
Mr Kwesi Agyei, the Controller and Accountant-General of Ghana, said Africa’s challenges were shared and that so must their solutions.
He said the conference provided the platform for them to exchange ideas, learn from best practices and forge strategies to enhance financial governance across the continent.
Dr Shamseldeen B. Ogunjimi, Acting Chairman of AAAG and Accountant General of Nigeria, said the Accountant-General of today was no longer a record keeper; stating that “we are strategists, we are principal advisors, we are stewards of integrity, we are leaders. Our work is to not simply to balance the page, it is today balance the needs of today.”
Mr Fredrick Riaga, the Chief Executive Officer of the AAAG, congratulated President Mahama on his resounding victory in Ghana’s 2024 general election.
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