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Primary content on this page
President Kenyatta signs controversial anti-terror bill amid criticism
20-12-2014

Suspended prison sentences in Finland’s first terrorism case
20-12-2014

Pastor in Kenya Fears His Life Is in Imminent Danger from Islamic Extremists
20-12-2014

Pierce County man gets 25 years for 2009 slaying of cab driver
20-12-2014

Al-Shabaab magazine attempts to justify violent jihad
20-12-2014

In Kansas City, the close-knit Somali community is jarred by a teen’s death
20-12-2014

NDP's Faisal Hassan, Running for Etobicoke North Nomination
20-12-2014

Great expectations await Somalia's new prime minister
20-12-2014

Barkhad Abdi Of ‘Captain Phillips’ Fame Back On The Big Screen In 2015
19-12-2014

Somali charged with double attempted murder placed under bill of indictment
19-12-2014

Somalia introduces new financial management system
A new Financial Management Information System (SFMIS) has been launched by Somalia’s finance department to improve accountability in processing transactions, it announced at the weekend.
SFMIS system will focus on budgeting, expenditure and revenue collection in a bid to improve reporting capabilities and establish an accurate audit trail, the Somali government said.

It added that improved timeliness, accuracy and comprehensiveness of financial reports would help make government decisions more effective.

Somalia’s finance minister Hussein Abdi Halane said the SFMIS would provide greater transparency on contracts/concessions review and asset recovery.

‘The goal is to deploy a robust IT infrastructure to all of the Ministry of Finance offices and all key government institutions and stakeholders,’ he said.

According to the government, the previous manual system lacked transparency and accountability, it was difficult to pay the salaries of civil servants on time and took too long to address various issues.

It is hoped that after implementing this system Somalia’s public finances will be managed properly and improve the overall public financial management, it said.

In addition, the new PFM system will enable the MoF to manage procurement processes across ministries, departments and other government institutions.

SFMIS, which is being financed by the World Bank, will go live in January 2015.

 
Primary content on this page
President Kenyatta signs controversial anti-terror bill amid criticism
20-12-2014

Suspended prison sentences in Finland’s first terrorism case
20-12-2014

Pastor in Kenya Fears His Life Is in Imminent Danger from Islamic Extremists
20-12-2014

Pierce County man gets 25 years for 2009 slaying of cab driver
20-12-2014

Al-Shabaab magazine attempts to justify violent jihad
20-12-2014

In Kansas City, the close-knit Somali community is jarred by a teen’s death
20-12-2014

NDP's Faisal Hassan, Running for Etobicoke North Nomination
20-12-2014

Great expectations await Somalia's new prime minister
20-12-2014

Barkhad Abdi Of ‘Captain Phillips’ Fame Back On The Big Screen In 2015
19-12-2014

Somali charged with double attempted murder placed under bill of indictment
19-12-2014






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