Kenya to bring in electronic financial management system from March

24 Feb 15
Kenya will next month introduce an electronic system to monitor how all government ministries spend funds in real time.

From March, the National Treasury department will officially launch the Integrated Financial Management Information system (IFMIS) Business Intelligence Dashboard, reports said.

The dashboard, designed to provide a real-time summary of government expenditure and measure budget performance against work plans, would be used by cabinet and principal secretaries.

It is expected to give a real-time graphical breakdown of ‘allocated budgets, expenditure levels by different ministries, departments and stage agencies’, the Kenya-based Capital FM news agency reports.

National treasury principle secretary Kamau Thugge said that the use of the electronic tool would ‘enhance planning and comprehensive monitoring of the Budget implementation’.

He said the dashboard would cross-examine data, such as, ‘procurement and payment as well as accurate tracing of funds’.

Kenya’s Public Financial Management law requires all public institutions to carry out their transactions through the IFMIS system.

In July, the National Treasury department said it was training more than 5,000 public sector workers in its online PFM system to automate and streamline government financial management processes and procedures.

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