Business

LIA conference focusses on public sector performance 

Bereng Mpaki

Renowned Kenyan speaker, Patrick Loch Otieno Lumumba will finally address the 10th edition of the Lesotho Institute of Accountants (LIA) in Maseru this afternoon.

A former director of the Kenya Anti-Corruption Commission, Prof Lumumba in now the director of the Kenya School of Laws, his highly anticipated address will be the major highlight of the conference.

The conference, which started yesterday, will be officially closed by Prime Minister Thomas Thabane tomorrow.

LIA brings together accountants and key stakeholders from both the public and private sector to share ideas of mutual interest. This year the conference is running under the theme: Accelerating Public Sector Performance in Developing Countries.

It features different prominent speakers from in and outside the country who are presenting on different topics.

In his opening remarks at the conference, Water minister, Samonyane Ntsekele said one of the factors in influencing public sector performance is sound public financial management (PFM).

“PFM is an essential part of good governance as it supports the efficient and accountable use of public resources, helps foster macroeconomic and fiscal stability, and guides allocation of resources to address national priorities,” Mr Ntsekele said.

He said since resources can leak when systems are weak, PFM covers all phases of the budget cycle including budget preparation, internal control and audit, procurement monitoring and reporting.

For his part, LIA chief executive officer Monyaola Mosoloane, said the public sector faces increasing financial constraints while expectations about the quality of public services are growing.

“There is a growing need for public service delivery but at the same time there is also constraint in the resources at the public sector’s disposal to deliver those services.

“So, the question is how can we still achieve better service delivery given the limited financial resources and other resources at our disposal?”

He said the conference presented delegates with opportunities that include knowledge expansion and finding new solutions for public sector innovation; networking with like-minded people and learning beyond their field.

“Many of us here are only accountants and do not indulge in other activities beyond their day to day operations. But this conference will give an opportunity to learn beyond what you do daily and you can go and implement in your respective places of work.”

He said the topics to be deliberated at the conference include strong institutions underpinning public sector performance; integrated thinking as a pillar for managing resources and value creation; public sector reporting framework and Africa professionalisation initiative among others.

Most of these sub themes, he said, emanate from the Agenda 2063 of the African Union.

“Agenda 2063 has seven aspirations that says in 2063 this is where Africa will be. That is why we are saying let us accelerate public sector performance so that we achieve the aspirations of Agenda 2063.”

He said the key lessons picked from the 2018 conference that was addressed by South Africa’s Finance Minister Tito Mboweni included the need for an efficient revenue authority; strong national treasury; government policy certainty; free independent and professional media.

The 2018 conference ran under the theme: Reimagining business in Africa.

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