The Ministry of Finance has commenced stakeholder consultations on the draft revised Public Financial Management (PFM) Act, 2016, as part of efforts to strengthen Sierra Leone’s fiscal governance framework and ensure that public financial management systems remain responsive to emerging economic and institutional realities.
The validation session, held on Monday, 10 August 2026, at the Ministry of Finance Conference Room on George Street, Freetown, brought together representatives from Ministries, Departments and Agencies (MDAs), Civil Society Organizations, Development Partners and other key stakeholders.
Chairing the session, Financial Secretary Matthew Dingie described the consultation as the first in a series of engagements aimed at gathering broad-based input on the proposed amendments to the PFM Act. He noted that public financial management is a continuously evolving field that requires regular review to address new challenges and meet modern governance demands.
Dingie explained that additional consultations will be held later in the week, including engagements with a wider range of stakeholders and a ministerial-level discussion on the proposed reforms. He assured participants that all recommendations and observations would be carefully documented and considered before the revised legislation is submitted to Cabinet and subsequently presented to Parliament for approval.
He reaffirmed the Ministry’s commitment to an inclusive, evidence-based review process that prioritises transparency, accountability and the public interest.
Outgoing Minister of Finance Sheku Fantamadi Bangura welcomed the review of the PFM Act, describing it as timely and necessary to reinforce Sierra Leone’s fiscal governance system. He emphasized that the PFM Act remains a cornerstone of fiscal discipline, effective resource management and accountability in the use of public funds.
According to Bangura, the proposed revisions are intended to establish a modern legal framework that strengthens fiscal planning, improves treasury management, enhances financial oversight and enables government to respond more effectively to emerging fiscal risks.
He also highlighted the need for the revised law to recognize the growing role of digital financial management systems in improving efficiency and accountability. He stressed that strong legislation alone is not enough, noting that effective implementation depends on capable institutions and the commitment of those responsible for enforcing the law.
He therefore encouraged participants to provide constructive and practical recommendations that would help ensure the revised PFM Act remains relevant, effective and adaptable to future developments.
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 justification for its review and the key reforms being proposed.
They outlined the objectives of the revised legislation, expected benefits, new provisions, amended sections and areas where existing provisions have been expanded to address current challenges in public financial management.
The session concluded with discussions, questions and clarifications from participants. The Ministry is expected to continue consultations with other government and non-government stakeholders before submitting the revised PFM Act to Cabinet for consideration and approval.