After Cashgate, President Peter Mutharika has managed to strengthen the then infamous IFMIS by introducing a number of controls which have contributed to reclaiming the public and donor confidence.
Govt has now concluded the procurement of a new IFMIS software which will soon be implemented.
The new IFMIS software will be top of the range and more robust.
This will as well come with new computer and network infrastructure that will reach all corners of the country. Processing of all government transactions will be realtime.
Government will from 1st July 2018 do away with cheque payments and use electronic Funds Transfer (EFT). This is another very big stride in meeting the World Banks conditionalities in the Public Finance Management.
Come July 2018, major govt information systems will be talking to each other (interfaced). This will include IFMIS, Human Resource Management Information System (HRMIS) and Reserve Bank’s System. This is another milestone in as far as Public Financial Management is concerned. No more ghost workers.
Malawi in the region is the first country to institutionalize a fully-fledged Information Security Department within IFMIS. This is after learning it a hard way from the Cashgate experience.
There has been a lot of talking on bank reconciliation for government accounts. This is now history. All accounts were comprehensively reconciled and now government is doing daily reconciliation.
Malawi has actually exceeded the development partners’ expectations.