AYV News, August 12, 2026
The Ministry of Finance has commenced stakeholder consultations on a proposed revision of Sierra Leone’s Public Financial Management (PFM) Act, in a move aimed at strengthening fiscal governance and bringing the country’s financial management framework in line with emerging economic and institutional realities.
The validation session, held on Monday, August 10, 2026, at the Ministry of Finance Conference Room on George Street, Freetown, brought together representatives from Ministries, Departments and Agencies (MDAs), Civil Society Organisations, Development Partners and other key stakeholders.
Chairing the session, Financial Secretary Matthew Dingie described the exercise as the beginning of a broader consultation process designed to gather views and recommendations on the proposed amendments.
He said public financial management is constantly evolving and that the legal framework must be capable of responding to modern demands and emerging challenges.
Dingie disclosed that additional consultations would be held later in the week, including engagements with a wider range of stakeholders and a ministerial-level session.
He assured participants that their recommendations would be documented and carefully considered before the revised legislation is submitted to Cabinet and subsequently Parliament for approval.
MODERNISING FISCAL GOVERNANCE
Minister of Finance Sheku Fantamadi Bangura welcomed the review, describing it as timely and necessary for strengthening Sierra Leone’s fiscal governance framework.
He described the PFM Act as a cornerstone of fiscal discipline and effective management of public resources, stressing the need for legislation that reflects modern economic realities, emerging trends and new approaches to financing critical sectors.
According to Minister Bangura, the proposed revisions are intended to establish a modern legal architecture that strengthens fiscal planning, improves treasury management, enhances financial oversight and boosts government’s capacity to manage fiscal risks.
He also stressed the importance of incorporating digital financial management systems into the revised legal framework as government increasingly embraces technology in managing public resources.
The Minister noted, however, that legislation alone cannot guarantee effective public financial management, emphasising the importance of institutions and the people responsible for implementing the law.
He therefore urged stakeholders to participate professionally and constructively and provide practical recommendations that would make the revised legislation effective and relevant over the long term.
REVIEW OF 2016 PFM ACT
During technical presentations, Assistant Director of Legal Affairs Cyrus Lusani and PFM Consultant Mohamed Baba Bayoh provided an overview of the 2016 PFM Act, the reasons for its review and emerging issues requiring legislative attention.
They also outlined the objectives and expected benefits of the revised legislation, including proposed new provisions, modifications to existing provisions and areas where the current law would be expanded.
The session concluded with questions, answers and clarifications from participants.
Further consultations are expected to continue with government and non-government stakeholders before the revised PFM Act is submitted to Cabinet for consideration and approval, followed by the parliamentary process where required.
The review is expected to play a key role in strengthening Sierra Leone’s public financial management system and ensuring greater efficiency, accountability and resilience in the management of public resources.
