BANKING AND FINANCE in Small States
Country Presentation by Jabulile Hadebe - Swaziland
It is worth noting that the Treasury Department acts as a bank to the
Swaziland Government, and deals with the banking institutions on a
daily basis. Among the primary projects that the department is
embarking on is formulating a cash flow model, which will be a tool
used to regulate our cash flow weekly considering our present fiscal
challenges, and a risk assessment component within the banking
section. This workshop is viewed as an opportunity to gain knowledge
from the other participants and the course facilitators on how best the
department can go about this exercise.
As for myself I am entrusted with the activities of managing Swaziland
Government’s bank accounts, the reconciliation of bank accounts, and
preparation of the cash flow statements and projections, issuing tour
advances for external travelling for Government officers, attending cash
flow weekly meetings to monitor government cash position.
The challenges we currently face is that we have too many government
bank accounts which makes it hard or close to impossible to reconcile
them. We were hoping to introduce a project called IFMIS (Integrated
Financial Management Information System) to help us in reducing the
number of bank accounts for Government.
The only thing we have managed to achieve is that payments a million
and above are no longer paid by cheques, they are paid through RTGS
System (real time gross settlement).