Cotonou, 21 March 2025 – The United Nations Development Program in West and Central Africa (UNDP WACA) in partnership with the African Development Bank Group, the United Nations Economic Commission for Africa, and the Government of Benin, is organizing the High-Level Regional Dialogue on Public Finance Systems in Africa from 25-26 March in Cotonou, Benin, under the theme: "Modernizing Accountability and Transparency for Sustainable Development."  The dialogue will convene policymakers, finance experts, private sector representatives, and development partners to explore solutions for modernizing financial management systems. 

Expected Outcomes
The High-Level Regional Dialogue on Public Finance Systems in Africa will result in:

• Policy recommendations to accelerate financial transparency and accountability reforms.
• A roadmap for digital finance transformation, including the adoption of AI-driven financial management tools.
• Commitments from governments and institutions to strengthen fiscal policies and improve revenue mobilization.
• Increased multi-stakeholder partnerships to enhance collaboration between governments, civil society, and the private sector.

This dialogue will serve as a platform for knowledge exchange, technical collaboration, and the development of actionable strategies to modernize PFM in Africa. Discussions will focus on:

1. Digital Transformation in Public Finance

2. Enhancing Revenue Mobilization & Fiscal Transparency

3. Strengthening Governance & Accountability Mechanisms

4. Regional Collaboration for Sustainable Development

Public Financial Management (PFM) plays a crucial role in economic stability, social development, and effective governance. While many African countries have undertaken significant reforms to modernize their financial systems, challenges remain, including weak institutional capacity, inefficient revenue collection, corruption risks, and limited adoption of digital tools. Strengthening accountability and transparency in public finance systems is essential to ensuring sustainable development, good governance, and efficient resource allocation across Africa.

According to the World Bank’s Public Expenditure and Financial Accountability (PEFA) assessments (2023), 60% of African countries have improved their financial management systems in the past decade. However, progress has been uneven, with many nations still struggling to ensure budget transparency, prevent illicit financial flows, and integrate robust accountability mechanisms.

For more information or media inquiries, please contact:

• UNDP Sub-Regional Hub for West and Central Africa - Dakar :
  Caroline Sarr, caroline.sarr@undp.org

• UNDP Benin – Cotonou :
  Elsie Assogba, elsie.assogba@undp.org
  
  Notes for the Editors:

  About UNDP

  UNDP is the leading United Nations organization fighting to end the injustice of poverty, inequality, and climate change. Working with our broad network of experts and partners in 170 countries, we help nations build integrated, lasting solutions for people and the planet.

  Learn more at www.undp.org/africa/waca