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FINANCIAL CONTROLLING OFFICERS TOLD TO PRACTICE RISK MANAGEMENT

ZAMBIA has launched the Public Sector Risk Management Framework with an appeal on controlling officers and government agencies to prioritise risk management in planning, budgeting and programme execution.

The Framework has been developed in response to the Public finance Management Act and Municipal Finance Management Act for Institutions to implement and maintain effective and transparent systems of risk management and control.

Meanwhile, government has also rolled out the National Water Supply and Sanitation Policy to facilitate the provision of sustainable, effective and efficient water supply and sanitation services.

Virtually launching the Risk Management Framework in Lusaka Finance Minister Bwalya Ngandu said there is need for mind set change among controlling officers to embrace the Framework and practice risk management.

Dr Ngandu explained, “These risks can be problematic as they sometimes force Government into unplanned expenditure thereby affecting appropriate budget implementation.

Nevertheless, most risks can be predicted, their circumstances and impact can be estimated and therefore organisations can not only predict their occurrence, but can prepare for their mitigation through implementing risk management”.

Secretary to the Treasury Fredson Yamba said the structure for the Framework is in place to spearhead the risk management function in the public sector.

“I am pleased that the framework we are launching today (September 16, 2020) was drafted internally using the available human resources within the public sector to ensure ownership of the process and make the process practical,” Mr Yamba said.

He said the implementation modalities will be through a phase approach, adding that he is confident that the framework will be fully implemented in the entire public sector.

Speaking at the virtual launch of the National Water Supply and Sanitation Policy, Water Development Sanitation and Environmental Protection Minister Jonas Chanda said the policy will provide a framework for coordinated development towards the attainment of universal access to clearn and safe water supply.

Dr Chanda said the Policy has been launched at a critical time when the world is grappling with the COVID-19 pandemic to which Zambia has not been spared.

And UNICEF country representative Noala Skinner said she believes the Policy will help Zambia achieving the 2030 goal number six of meeting universal and fair access to safe and affordable drinking water for all

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Written by Arthur Mwansa

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