President John Dramani Mahama has called for greater convergence in accounting, auditing, and reporting standards across Africa to improve comparability and promote cross-border investments.
The President stated that convergence would 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).
In his address at the opening of the Third Conference of the African Association of Accountants General (AAAG) in Accra on Monday, President Mahama noted that a future African public finance charter would set a continental benchmark for transparency and fiscal responsibility.
“Africa needs greater convergence in accounting, auditing, and reporting standards, because this would improve comparability, promote cross-border investments, strengthen regional blocks and facilitate continental integration under the African Continental Free Trade Area,” he said.
The President emphasized that to position Africa’s financial system for prosperity, the continent must build institutions that are independent, professionally competent, operationally transparent, and protected from political interference.
He stated that strong institutions with clear public tools, professional autonomy, and standardized procedures ensure continuity, consistency, and credibility.
President Mahama noted that Africa stands at a defining moment in its history, rich in talent, resources, and potential, yet constrained by debt vulnerabilities, fiscal pressures, deficiencies in public expenditure, and gaps in financial reporting.
He stated that 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.
The President stated that the theme of the conference, “Africa of Tomorrow: Positioning PFM for Economic Prosperity,” encourages 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.
He emphasized that it was appropriate that the conference takes place at a time when Africa is seeking a new financial governance model that is not only effective but also ethical, transparent, and people-focused.
President Mahama reiterated that probity and accountability are the foundation of sustainable development, stating that they are practical governance rules that protect public resources, ensure that citizens’ taxes are used responsibly, and foster confidence in national institutions.
“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,” he said.
The President noted that modern Accountants-General are no longer just bookkeepers but architects of national economic stability and frontline defenders of public accountability.
He urged them to embrace technological innovations such as AI-driven risk detection, digital procurement systems, integrated financial management systems, and blockchain solutions as necessities for 21st century public financial governance.
The four-day conference is being attended by 23 Accountants-General from across Africa.
Controller and Accountant-General of Ghana, Mr. Kwesi Agyei, stated that Africa’s challenges are shared and so must their solutions be shared, noting that the conference provides the platform to exchange ideas and forge strategies to enhance financial governance across the continent.
Dr. Shamseldeen B. Ogunjimi, Acting Chairman of AAAG and Accountant General of Nigeria, stated that the Accountant-General of today is a strategist, principal advisor, steward of integrity, and leader whose work is to balance the needs of today.
Richard Aniagyei, ISD
