On December 9, 2024, the Institute of Legal Practice and Development (ILPD) invited Hon. Dr. Fatmata Lovetta Sesay, UNDP Rwanda Resident Representative, to deliver an insightful lecture on “The Role of Financial Accounting and Tax Systems in Strengthening Public Financial Management and Economic Governance.” The lecture, held at the Rwanda Revenue Authority (RRA) Training Institute in Huye. 

Dr. Sesay, a global expert with over 20 years of experience in economic development and sustainable finance, engaged with the students, shedding light on how robust financial accounting and tax systems underpin national development. 

Dr. Sesay emphasized the importance of these systems, stating: "A well-structured tax system and strong financial accounting mechanism are the foundation of a thriving economy. These tax professionals left me confident that Rwanda's public financial management is in capable hands."

The interactive session highlighted critical issues, with Dr. Sesay pointing out the pivotal role of sound financial accounting and efficient tax systems in economic governance. She remarked: "These systems form the backbone of national development, enabling governments to attract and sustain private investments, boost domestic savings, and channel public investment into essential sectors like education, health, and human capital development."

Dr. Sesay also expressed optimism about Rwanda’s future, praising the country’s dynamic public servants for their dedication: "With Rwanda’s dynamic public servants stepping up to tackle these challenges, I’m excited about a future where fiscal accountability drives growth, innovation, and inclusive development."

Marie Jeanne Uwera, a Diploma in Tax Investigation student and tax investigator at the Rwanda Revenue Authority, shared her takeaways from the lecture.
"As someone responsible for tax investigations, it is crucial to thoroughly analyze a company’s accounting to determine whether it made a profit. This informs the taxes we collect. We ask, how did they achieve this? Was everything done in compliance with the required standards?"

Uwera further emphasized the impact of proper auditing and taxpayer compliance:
"When business records are properly audited, and taxpayers comply, it enhances the amount of tax collected, contributing to the country’s development."

Dr. Sesay’s extensive global experience, having served in senior roles in countries such as Ghana, The Gambia, South Sudan, Ethiopia, and many others, brought a wealth of knowledge to the discussion. Her contributions during the lecture provided invaluable insights to Rwanda’s future tax professionals, inspiring them to play a vital role in enhancing public financial management and driving economic growth.