Frederick Riaga, Chief Executive Officer of the African Association of Accountants General (AAAG), has urged African governments to take firmer ownership of the continent’s economic direction by strengthening public financial management systems and moving beyond long-held narratives that hinder progress.
Delivering the keynote address at the third AAAG Conference in Accra, held under the theme “Africa of Tomorrow: Positioning Public Financial Management (PFM) for Economic Prosperity,” Riaga said Africa’s path to prosperity will depend on deliberate reforms, stronger governance, and a renewed resolve to translate the continent’s wealth into long-term value for its people.
The event drew accountants general from across the continent, senior government officials, African Leaders and President John Dramani Mahama. He described Ghana’s choice at the polls which brought Mahama into office again as “a definitive mandate” that reflects public confidence in the country’s new direction.
Riaga told delegates that Africa’s leaders must begin to be referenced not only in historical terms but for the results they deliver today. “Africa is rich and destined for greatness. If we put our heads together and think right, we will achieve it,” he said.
He noted that the AAAG was formed two and a half years ago to give the continent a unified voice on PFM issues, and commended President Mahama for prioritizing the conference over other engagements.
Riaga highlighted several areas requiring urgent attention, including the need for African countries to channel their demographic strength into economic value. “It is no longer enough to describe Africa as a youthful continent. If we cannot tap into the youthfulness of our population to bring about value, then we are missing the opportunity,” he said.
Climate change, he added, threatens to deepen vulnerabilities across the continent, stressing the need for forward-looking fiscal and policy measures that protect future generations while supporting economic stability today.
Riaga also challenged African governments to stop attributing the continent’s economic gaps to colonial history. “That is an old narrative we must stop. Others who were colonized have moved ahead. It is time for Africa to take charge of its future,” he said, citing Brazil and Singapore as examples of countries that have outpaced their former colonial powers in several measures of economic performance.
He said the conference will focus on how African governments can harness natural resources, strengthen governance, and use PFM systems to support long-term development agendas.
Riaga urged participants to return to their capitals with renewed commitment. “We trust that as we run through our conversations today, we will leave with the call to drive the change that ensures Africa of tomorrow begins taking shape today,” he said.
The Accra conference, the third since AAAG’s establishment, aims to position the gathering as the continent’s premier platform for PFM excellence and collaboration.
