Good Financial Governance is the legitimate use of governmental power and authority in the management of a country’s financial resources with integrity, transparency, accountability, equity and a result-orientation to promote development. Good Financial Governance implies effective, efficient and accountable state departments and financial institutions, which act within the framework of a functioning rule of law.
– Idowu Koyenikan
Efficient and transparent management of public finance is crucial to enable development and poverty reduction in Africa. This applies to the entire budget cycle: tax administration, budget preparation and execution, control by parliaments and external auditing by Supreme Audit Institutions. At every stage, the responsible institutions should primarily work to the benefit of the people to ensure sufficient public finance for public services.
The Good Financial Governance (GFG) in Africa programme promotes transparency and accountability in public financial management and is implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Union (EU). Its objective is to foster Good Financial Governance in Africa, more specifically to equip decision-makers in African public finance to use region-specific services, products and further education to improve financial governance.