The Ministry of Finance and Economic Affairs (MoFEA) in collaboration with the Commonwealth Secretariat in London has embarked on a project to establish Enterprise Risk Management (ERM) across the public sector within the Government of The Gambia.
The ERM project is geared towards having a formal structural approach towards addressing risk in attaining the Government’s strategic development objectives as prescribe in the National Development Plan (NDP) and the Sustainable Development Goals (SDGs).
Technical Assistance is being provided by the Commonwealth Secretariat in developing the ERM Policy and Framework respectively for the Government and also train key officials on risk management for the effective implementation of the project.
Augustus Cole, Adviser Public Financial Management, Governance and Peace Division, Commonwealth Secretariat in highlighting the importance of the ERM stressed that ‘Enterprise Risk Management (ERM) provides a unique opportunity for governments to establish a structured approach to managing risks in enhancing good governance and achieving the Sustainable Development Goals. As addressing risks is integral to good governance, the Commonwealth Secretariat is committed to supporting the Government of The Gambia in improving good governance, transparency and accountability through instituting ERM across the public sector’.
The ERM is being championed by the Internal Audit Directorate of MoFEA who will provide technical oversight of the process in facilitating the implementation across the public sector.