The Zambia Youths in the fight against Corruption (ZYAFAC) has observed that there is a dramatic improvement in the management of public funds.
The latest report of the Auditor General on the Accounts of the Republic for the financial year ended 31st December 2017 has revealed a reduction in the misapplication of Funds from K162 million in 2016 to K61 million in 2017.
ZYAFAC Executive Director Maurice Malambo says this reduction could be attributed to the engagement between the government of Zambia and the European Union in improving financial management systems.
Mr. Malambo says there is no doubt that the signed €17 million financing agreement between the European Union and the Zambian Government is improving public financial management in Zambia.
“It is very clear that such engagements are bearing fruits. But Zambia can still do more by reducing these statistics to the barest minimum,” he said.
He also hails the political will exhibited by President Edgar Lungu to allow investigative wings to operate independently saying this is helping in the fight against corruption.
“One thing we should also understand is the fact that when these controlling of public officers misuse, misapply or misappropriate public funds it should not be thrown on the executive as being responsible for such happenings. We don’t need to politicize this matter, but weed to work together in reducing these financial irregularities,” he said.
Mr. Malambo also observes the need for the country to do more when it comes to unaccounted for funds saying the trend is worrying.
Mr. Malambo was speaking when he featured on Money FM Business Radio’s Policy, Power and Money programme that airs every Mondays and Thursdays at 9hrs.