PAFA and African Development Bank Launch Major Capacity Building Project to Strengthen Public Financial Management and Professional Accountancy Organisations Across Africa

26 November 2025 – Johannesburg, South Africa

The Pan African Federation of Accountants (PAFA) and the African Development Bank (AfDB) today officially launched the Strengthening PAFA and Public Financial Management Resilience in Africa (SPRA) Programme—an ambitious multi-year initiative aimed at enhancing the continent’s public financial management systems strengthening PAFA and Professional Accountancy Organisations (PAOs) in 23 eligible African countries.

Funded by the African Development Bank Group’s Transition Support Facility (TSF) with UA 4.0 million (approximately USD 5.4 million) grant over three years, the programme aims to expand institutional development, improve public sector professionalism, and harmonise standards and practices across Africa. It represents a significant step in consolidating PAFA’s PAO Development Programme and strengthening its continental impact. The overall goal of the project is to enhance professional capacity in public financial management and standardise professional accounting standards, tools, and practices across Africa. The specific objectives are (i) to strengthen institutional, professional, and human capacities of PAOs for better quality financial reports in transition states, and (ii) to professionalise accountants and auditors in the public sector. 

The Division Manager, Mr. Kalayu Gebre-Selassie welcomed the partnership and reaffirmed the Bank’s commitment to strengthen the capacities of Pan-African Institutions working on transparency, accountability, and economic governance in Africa.

“The AfDB is proud to support PAFA in its mission to strengthen the accountancy profession—an essential component of strong and transparent public financial management systems. By investing in PAOs and in the professionalisation of public sector accountants and auditors, we are investing directly in Africa’s economic resilience, good governance, and long-term development. This programme reflects AfDB’s commitment to building capable institutions that safeguard public resources and foster trust. He highlighted that the success of this project will depend on effective collaboration at regional and national levels, building on existing partnerships with PAOs and regional institutions.”

PAFA Vice President, Ms. Prem Govender, delivered a message from the PAFA President, Mr. Walid Ben Salah, emphasising the significance of the programme for Africa’s development:

“We are deeply grateful to the African Development Bank for this important investment in Africa’s governance and institutional resilience. Strong PAOs and competent, ethical accounting professionals are foundational to transparent governance, sound public financial management, and long-term economic stability. 

This grant will enable PAFA and our partners to enhance public-sector capacity, support PAOs working in fragile and challenging environments, and develop a harmonious, resilient accountancy ecosystem across the continent.

The PAFA Board is fully committed to ensuring strong oversight, responsible stewardship, and disciplined implementation so that this programme delivers meaningful, lasting improvements for the countries and citizens we serve.” 

Through the SPRA Programme, PAFA will collaborate closely with key continental organisations, including the African Professionalisation Initiative, to promote harmonised and sustainable PFM capacity development across Africa. The focus will be on strengthening public sector accountancy capacity, improving the institutional effectiveness of PAOs, reinforcing PAFA’s governance, procurement, monitoring, and financial management systems, and supporting long-term PFM resilience in fragile situations and transition states.

The launch marks a strong vote of confidence in PAFA’s leadership and the profession’s role as a driver of public sector trust, transparency, and economic progress.

PAFA, with the Bank’s support, will commence implementation immediately, with progress regularly reported to stakeholders.

About PAFA

The Pan African Federation of Accountants (PAFA) is the continental body representing 57 professional accountancy organisations in 47 African countries, and is recognised by the International Federation of Accountants (IFAC) as a Network Partner and Regional Organisation. Its mission is to accelerate development of the accountancy profession and strengthen Africa’s voice and influence in the global economy.

About the African Development Bank Group

The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.afdb.org