Cameroon: Public Finance Management - Managers Schooled On New Dispositions

The executives of public corporations and establishments are expected to align with existing legal frameworks in order to increase performance.

Executives of public corporations and establishments across the country are being schooled on ways to implement certain dispositions of Law No. 2017/010 as well as Law No. 2017/011. Both laws dwell on the general status of public corporations and establishments and their text of application was signed on June 19, 2019, by President Paul Biya. Opening the two day workshop in Yaounde, Tuesday August 20, 2019, the Minister Delegate in the Ministry of Finance, Yaouba Abdoulaye, called on the managers to take the exercise seriously. He said transparency and good governance in the management of public finances should be given the pride of place, all in the quest for better performance. Minister Yaouba recalled that the Head of State attaches a lot of importance to this as he has recurrently called for top management to make public enterprises more vibrant. The workshop has as specific objectives to detail the various aspects of the legal texts and to proceed with the classification of different public corporations and establishments into their various categories as spelt out in the presidential decree of June 19, 2019. A senior official of the Ministry of Finance, Menguele Judith Clairence, said the familiarisation exercise falls within the plan of action of the Ministry of Finance for 2019. "With the signing of the recent decree by the Head of State, it is for us to put in place an ideal setting which favours the putting in place of these reforms in public corporations and enterprises," she noted. The Deputy Director General of the Autonomous Sinking Fund (CAA), Kendem John Forghab told reporters that they are out to explain to managers how they can go about implementing the texts. "Many people have been having different understanding of the law and it was necessary to explain to stakeholders the importance of the law, and also to clear the air. It is a reminder to respect legal frameworks," he underscored. The finance official equally noted that they want to accelerate the dematerialisation of securities in the country. "The law on dematerialization was signed in 2014 and all public establishments were given up to May 2018 to regularize. For one reason or the other, most of the establishments did not meet up," Kendem noted. He said the workshop will help the executives to carry on the dematerialization process before the new deadline.

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