Workshop aimed at achieving transparent, efficient and accountable financial system held

On Mar 28, 2025 47

Addis Ababa, March 27, 2025 (FMC) — Strong and well organized financial system will significantly contribute to the national development of Ethiopia, Finance State Minister Eyob Tekalign said at a consultative workshop on treasury single account today.

Opening the Consultative Workshop on Treasury Single Account, Eyob said managing the government’s cash through cost-effective, swift, and effective system is a national duty.

According to him, a strong and well organized financial system will significantly contribute to the proper use of every government cash collected from tax and non-tax sources, grants, loans, and other sources for national development.

A treasury single account system has a key role to play in making this a reality, the state minister said, adding that the system brings government cash that is scattered across multiple bank accounts into one account.

Realizing the system will also alleviate the problems caused by fragmented accounting and create an enabling environment for modern government cash management, Eyob stated.

A treasury single account (TSA) will not only enable the government to manage cash but also put in place an efficient, effective, transparent and accountable financial management.

On her part, Financial Sector Deepening (FSD) Ethiopia CEO, Hikmet Abdella commended the leadership of the ministry for its commitment to modernizing Ethiopia’s financial system in a relatively short time.

“We look forward to the Ministry of Finance achieving treasury single account implementation for a more transparent, efficient and accountable financial system,” the CEO added.

Hikmet further affirmed that FSD Ethiopia is committed to advancing the country’s financial sector by fostering innovation, inclusivity and sustainability.

The half-day workshop, organized by the Ministry of Finance and FSD Ethiopia, is aimed at building a shared understanding of treasury single account (TSA) and modern cash management among stakeholders.