Ministry accentuates verifiable financial system importance

• The new system helps pinpoint fund whereabouts

BY TSEGAYE TILAHUN

ADDIS ABABA – The Science and Higher Education Ministry stated that it has introduced a new financial administration and monitoring system with a view to ensuring accountability and transparency in education sector financial management.

Technical and Vocational Education and Training Sector, Director-General with the Ministry Dr. Genene Abebe told The Ethiopian Herald that the Ministry has introduced a new system to monitor the financial support from donors and partners in the education sector thereby ensuring accountability and transparency.

Dr. Genene, who is also Acting State Minister of Ministry of Science and Higher Education, said that as the government has been working in collaboration with various partners and donors from different countries, they have been providing the education sector with financial support to help come up with quality education.

“Every year donors and partners transfer financial supports to the funding basket. For instance, this year alone, Norway and Germany have transferred over 6 million USD for the improvement of education in Ethiopia,” he said.

According to Dr. Genene, not only are Germany, Netherlands, Norway, Korea, Italy and among others are the main financial and technical enthusiasts to improve the education sector especially technical and vocational training scheme in Ethiopia but they are also supporting the country to reduce unemployment through their projects.

As to him, as bolstering industry-university linkage is of paramount importance in succinctly supporting transferring knowledge and technology, they have given it due focus. “We are working with these countries in line with our policies and strategies and most of them provide our people with capacity building trainings via their financial support. For instance, trainees are engaged in industries through cooperating training employing the financial support.”

“The government of Ethiopia is committed to strengthen its ties with the aforesaid bodies in a bid to draw important lessons from their best practices. In doing so, most of the technical and vocational graduates started benefiting out of the employment created from the market-oriented training,” he pointed out.

He also noted that previously, it was difficult to gauge financial support of donors and partners for what purpose it was spent following the fragmented nature of supports.

Now, especially the Ministry of Science and Higher Education is introducing new systems to scrupulously control and know the financial transactions to make financial statement as per the plan. Now, the financial transaction system is under the government finance system.

“The verifiable means will enable us to control and evaluate as well as ensure accountability and transparency of financial transaction donated by various partners.

We have customized various countries experiences to buttress the training that helps create job opportunities as well as income generation means,” he opined.

The Ethiopian herald January 12/2021

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