Treasury’s problem-ridden finance system ‘will be implemented’, Cabinet says
On Friday, the Cabinet said it remained confident that the Treasury’s Integrated Financial Management System (IFMS) would be successfully implemented, despite the current problems and delays. The Treasury has been accused of squandering R1bn on the system, which has failed to get off the ground more than a decade after it was first mooted. Approved by the Cabinet in 2005, the system was meant to resolve financial system glitches and replace ageing and fragmented financial, supply chain, payroll and human resource management systems. "The Cabinet has full confidence in the institutional strength of the Treasury and its custodianship of public finances. Cabinet further expresses its faith in the IFMS programme’s implementing agencies — the Treasury, the Department of Public Service and Administration, and the State Information Technology Agency — to implement the project successfully," the Cabinet said in a statement issued following a meeting on Wednesday. It noted the National Treas...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.