As part of enhancing efficiency in the management of assets the Ministry of Transport and Public Works (MoTPW) recently conducted a training workshop on asset register management for administration staff from all its departments and sections and regional offices.
The workshop took place at the School of Aviation, Kamuzu International Airport in Lumbadzi.
In his address to the participants Director of Administration and Finance in the Ministry, Chigomezgo Munyenyembe said that training was important as officers were imparted with new skills to enable them to work with the new system without difficulties.
Munyenyembe emphasized that asset register management plays a vital role in promoting transparency, accountability, and risk management.
The goal was to establish an effective framework for asset registration, a critical measure aligned with the Public Finance Management Act of 2022.
Further the training sought to enable each Cost Centre to accurately record, update, and report on public assets, thereby enhancing transparency, accountability, and resource utilization across departments.
In the course of the training, the importance of proper asset management for risk mitigation, enabling staff to safeguard assets and prevent loss or misuse, thus supporting the Ministry’s goal of responsible asset stewardship was pointed out.
The training marked a strategic step toward a more accountable and transparent management of public assets, underlining the Ministry’s dedication to financial integrity and effective resource management.
After the training the Ministry will produce encompassing asset register which will be submitted to the accountant general.
Apart from compliance with accounting standards asset registers also provides management with insights that lead to better resource allocation.