The West African Institute for Financial and Economic Management (WAIFEM) has cautioned that weak financial report writing and presentation skills remain a major threat to financial institutions across Sub-Saharan Africa.
The Director General of WAIFEM, Baba Musa, said many institutions risk facing serious operational challenges if they fail to prioritise effective communication in their day-to-day activities. He spoke to Joy Business during a regional training course in Accra, designed to address bottlenecks in the financial sector.
“Most financial institutions in the sub-Saharan African region risk challenges if effective financial reporting and presentation skills are not factored into their day-to-day activities,” he said.
The five-day programme brought together participants from across the region to build capacity in financial reporting and effective communication. According to organisers, the training will help close skills gaps, promote transparency, and strengthen financial sector resilience.
Adding his voice, the Director of Research at the Bank of Ghana, Dr. Philip Abradu-Otto, highlighted the wider economic importance of financial communication.
“Good financial reporting and effective presentation are critical not just for internal decision-making, but also for external stakeholders who rely on the data to drive economic growth,”.
WAIFEM believes the initiative forms part of broader efforts to enhance financial management practices and boost economic stability within West Africa.
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