The Ministry of Finance on Monday, 10 August 2026, commenced a stakeholder validation session on the draft revised Public Financial Management (PFM) Act, bringing together representatives from Ministries, Departments and Agencies (MDAs), Civil Society Organisations, Development Partners and other key stakeholders. The session was held at the Ministry of Finance Conference Room on George Street, Freetown, as part of ongoing efforts to strengthen Sierra Leone’s fiscal governance and ensure that the country’s public financial management framework responds effectively to emerging economic and institutional realities.
Chairing the session, Financial Secretary Matthew Dingie described the exercise as the beginning of a series of consultations aimed at gathering broad-based views on the proposed revisions to the PFM Act. He noted that public financial management is dynamic and needs to evolve to respond to modern demands and emerging challenges. He explained that further consultations will be held later in the week, bringing together a wider range of stakeholders and a ministerial-level session on the proposed changes. He emphasised that all relevant views and recommendations will be carefully documented and considered before the revised Act is submitted to Cabinet and subsequently Parliament for approval, stressing the Ministry’s commitment to an evidence-based process that safeguards the public interest.
Minister of Finance Sheku Fantamadi Bangura welcomed the review, noting that it is timely and necessary to strengthen the country’s fiscal governance framework. He described the PFM Act as a central pillar of fiscal discipline and effective management of public resources, stressing the need for a legal framework that can respond to modern realities, emerging trends and evolving methods of financing critical sectors. According to the Minister, the proposed revisions seek to provide a modern legal architecture that strengthens fiscal planning, reinforces treasury management, improves financial oversight and enhances the Government’s ability to respond effectively to fiscal risks.
Minister Bangura further highlighted the importance of recognising digital financial management systems within the revised legal framework, noting that effective public financial management cannot be achieved through legislation alone. He stressed that institutions and the people responsible for implementing the law are equally critical to its success, making stakeholder consultations an essential part of the review process. He therefore encouraged participants to engage professionally and constructively and provide practical recommendations to improve the proposed legislation and ensure that it remains relevant and effective over time.
During technical presentations, Assistant Director of Legal Affairs Cyrus Lusani and PFM Consultant Mohamed Baba Bayoh provided an overview of the background to the 2016 PFM Act, the rationale for its review, emerging issues and key proposed reforms. They also outlined the objectives of the revised legislation, expected benefits, new provisions, modified provisions and areas where existing provisions have been expanded. The session concluded with questions, answers and clarifications on issues raised by participants, with consultations expected to continue with other government and non-government stakeholders before the revised PFM Act is presented to Cabinet for consideration and approval.
Credit – MOF Communications
Copyright –Published in Expo Times News on Wednesday, 12th August 2026 (ExpoTimes News – Expo Media Group (expomediasl.com)
