COMPARATIVE ANALYSIS OF NATIONAL PFM LEGISLATION AND SADC PFM MODEL LAW IN ZAMBIA, ZIMBABWE, AND MALAWI

The report finds that while Zambia, Zimbabwe, and Malawi have adopted progressive PFM legislation, there is a systemic failure in implementation, leaving them vulnerable to unsustainable debt and illicit financial flows. It highlights that parliamentary oversight is often non-binding and that there are significant gaps in guarding against 'debt vultures'. The SADC PF Model Law is presented as a framework to harmonize these systems, emphasizing the need for binding audit recommendations, inter-agency collaboration to fight illicit financial flows, and stricter debt contracting safeguards.

• Zambia, Zimbabwe, and Malawi have adopted progressive PFM legislation based on global best practices, but they suffer from a lack of effective implementation of these laws.
• Parliamentary oversight in the three countries is compromised because its findings and recommendations are not legally binding, meaning the legislature lacks the power to control executive actions effectively.
• The PFM frameworks in the studied states do not include specific criteria for lenders and creditors, leaving them exposed to risks from 'debt vultures' and unscrupulous lenders.
• There is a critical absence of stand-alone legislation and comprehensive inter-agency collaboration frameworks specifically designed to address illicit financial flows (IFFs) in the three jurisdictions.
• Enforcement systems for PFM are weak, particularly regarding senior government officials; there are few provisions to penalize high-ranking officers like the Secretary to the Treasury for financial misconduct.
• The SADC PF Model Law provides a comprehensive framework for harmonizing PFM, but it currently lacks a regional monitoring and evaluation system to review domestic systems and recommend improvements.
• Malawi's debt management institutional system is significantly weaker than those of Zambia and Zimbabwe, as it lacks a dedicated debt management office, leaving duties to the Secretary to Treasury.
• The Auditor-General's role and independence vary by country; in Zimbabwe, the AG has a more limited mandate and lacks the specific immunity provisions found in the laws of Zambia and Malawi.

APA

African Forum and Network on Debt and Development (n.d.). COMPARATIVE ANALYSIS OF NATIONAL PFM LEGISLATION AND SADC PFM MODEL LAW IN ZAMBIA, ZIMBABWE, AND MALAWI. https://afrodad.org/sites/default/files/publications/Comparative%20Analysis%20of%20National%20PFM%20Legislation%20and%20SADC%20PFM.pdf

Chicago

African Forum and Network on Debt and Development. COMPARATIVE ANALYSIS OF NATIONAL PFM LEGISLATION AND SADC PFM MODEL LAW IN ZAMBIA, ZIMBABWE, AND MALAWI. n.d. https://afrodad.org/sites/default/files/publications/Comparative%20Analysis%20of%20National%20PFM%20Legislation%20and%20SADC%20PFM.pdf.

Wikipedia

{{cite report |author=African Forum and Network on Debt and Development |title=COMPARATIVE ANALYSIS OF NATIONAL PFM LEGISLATION AND SADC PFM MODEL LAW IN ZAMBIA, ZIMBABWE, AND MALAWI |url=https://afrodad.org/sites/default/files/publications/Comparative%20Analysis%20of%20National%20PFM%20Legislation%20and%20SADC%20PFM.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{africanforumandnetworkondebtanddevelopmentndcomparative, author = {{African Forum and Network on Debt and Development}}, title = {{COMPARATIVE ANALYSIS OF NATIONAL PFM LEGISLATION AND SADC PFM MODEL LAW IN ZAMBIA, ZIMBABWE, AND MALAWI}}, institution = {African Forum and Network on Debt and Development}, url = {https://afrodad.org/sites/default/files/publications/Comparative%20Analysis%20of%20National%20PFM%20Legislation%20and%20SADC%20PFM.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }