#National News

IFMIS project satisfactory - Governor CBG

Nov 23, 2020, 10:09 AM | Article By: Abdoulie Nyockeh

Newly appointed Governor of Central Bank of The Gambia Nuah Saidy has said that preliminary results indicate that the Integrated  Financial Management  Information System (IFMIS) project is rated satisfactory and thus the need  to commend the efforts of all those who contributed to its success.

He equally challenged other projects to emulate the IFMIS project which had been successfully implemented.

He made these remarks while presiding over the opening of the validation seminar for the IFMIS project implementation completion results report held at Sir Dawda Kairaba international conference hall last Friday.

The overall objective of the IFMIS project is to improve the capacity of Gambia government in public resources management.

 The project commenced in 2010 and is expected to endon 30 November 2020.The cost of the project is 15million US Dollars.

Since its introduction, the IFMIS system has supported public financial management in terms of budgeting, accounting and financial reporting.

According to Governor Saidy,the report has also provided the opportunity to learn lessons from the implementation of the project with focus on issues of concern such as system sustainability that would require government attention and action.

He noted that a self-assessment is being done with preparation of project implementation completion results report through an independent Dr. Julien Bandiaky.

He recalled thatfrom 2001 to 2006, the World Bank funded a reform project called Capacity Building and Economic Management project adding that part of those funds were used in funding the pilot phase of the Integrated Financial Management System.

According to him, in 2013 both The Gambia government and World Bank undertook expanding the system capacities including the first ungraded from the Epicor version 7.3.5 to Epicor9.0.5, which was characterised by challenges such as the system performance due to the inherent design of the Epicor 9.0.5.

 In the course of addressing these challenges and based on the advice of the system developers, a decision to upgrade to Epicor 10 was reached and funded from the (IFMIS) additional financing11.

Other activities funded from this financing are the introduction of electronic record management system (ERMS) statisticalcapacity building, national energy development and state-owned enterprises reforms.