Gov’t Sets Aside GH¢48M for Professional Training of Financial Managers and Accountants in Ghana

The government of Ghana has allocated GH¢48 million to enhance the professional development of financial managers and accountants across the country. This initiative aims to address the growing demand for skilled professionals in the financial sector by providing specialized training programs. The move is expected to equip these experts with the knowledge and tools necessary to navigate the ever-evolving financial landscape, boosting the efficiency of Ghana’s financial systems. As part of the broader economic reforms, this investment underscores the government’s commitment to capacity building and improving governance in the public and private sectors, a step that will contribute positively to the nation’s economic development.

As part of efforts to enhance the country’s public financial management, government has earmarked GH¢48 million in the 2025 budget to train and certify over 3,200 public financial managers and accountants. The initiative, which focuses on compliance with International Public Sector Accounting Standards (IPSAS), digital reporting, and internal audit practices, aims to build a workforce equipped with the necessary skills to support the government’s fiscal accountability and digitization agenda.

Deputy Minister of Finance, Thomas Ampem Nyarko, revealed this during the 2025 Annual Conference of the Controller and Accountant-General’s Department (CAGD) held at the Ho Technical University. Addressing key stakeholders, including accountants and financial professionals, Nyarko emphasized that the investment aligns with President John Mahama‘s vision of modernizing the public sector by scaling systems and empowering people.

“This is part of our broader policy to foster a digitally competent and ethically grounded public workforce,” he stated.

The government’s comprehensive plan is aimed at addressing the need for a well-trained workforce capable of adhering to the latest global standards and utilizing modern digital tools to improve efficiency in public financial management.

The training will focus on critical areas such as IPSAS compliance, digital financial reporting, and internal audit standards. These efforts are expected to enhance the efficiency and transparency of financial operations across public institutions, while fostering a culture of accountability and integrity.

Additionally, Nyarko highlighted other ongoing innovations within the Ministry, including the development of a Digital Treasury Dashboard in collaboration with CAGD. The dashboard will be pilot-implemented across five ministries later this year, providing real-time insights into fund disbursements and project progress. This initiative aims to reduce administrative waste by 15%, contributing to cost-saving measures.

Another notable development is the ongoing rollout of Phase II of the Integrated Payroll and Personal Database (IPPD). This system is expected to clean up the payroll system by eliminating ghost names, saving the government approximately GH¢300 million annually. The Ministry is also introducing a new Electronic Assets and Liabilities Declaration System in partnership with the Commission on Human Rights and Administrative Justice (CHRAJ) and the Audit Service. This system aims to enhance transparency and ensure accountability among public officers.

During the conference, James Gunu, Volta Regional Minister, represented by Augustus Awity, Chief Director of the Volta Regional Coordinating Council, made a passionate plea for the government to reconsider the relocation of the CAGD’s Disaster Recovery Centre to the Ashanti Region. The Minister emphasized the importance of bringing the center back to the Volta Region, citing the lack of an explanation for its relocation. He called for urgent action to restore the center to its original location, ensuring that regional operations are not hindered.

The government’s focus on digital transformation, capacity building, and enhancing fiscal transparency is set to strengthen the country’s public financial management systems. By investing in human capital and technology, the government is not only ensuring efficiency but also building a future-ready workforce capable of addressing the challenges of modern public sector finance.

As the program progresses, stakeholders are hopeful that these measures will lead to improved governance, enhanced public trust, and the realization of the country’s broader fiscal goals.

Last Updated on April 28, 2025 by samboad