HARGEISA, 04 August 2026 – The Director General of the Ministry of Finance and Economic Development, Mr. Mohamed Hasan Saleaan, alongside the Accountant General of the Government, Mr. Xasan Muuse Khaliif, officially opened a high-level training workshop today at the Ministry’s conference hall, focused on strengthening the management and registration of fixed assets across all government entities.
The training forms a key component of the Ministry’s broader strategy to reinforce public financial management and accountability, operationalizing the National Fixed Asset Management Policy adopted in June 2020.
While the policy has delivered measurable progress since its adoption, persistent challenges remain. These include inconsistencies in how institutions maintain their asset registers, and the widespread failure to assign financial values to assets reported in government financial statements—limiting transparency and informed decision-making.
The National Policy mandates that all Ministries, Agencies, and Authorities maintain a unified Fixed Asset Register and adopt standardized procedures for asset valuation, depreciation accounting, and determination of useful economic life—all in line with International Public Sector Accounting Standards (IPSAS) and globally recognized best practices.
The intensive training targets staff from Fixed Asset Management Units, Procurement Officers, and Logistics Officers across the public sector. Participants are being equipped with practical skills in asset registration, tracking, safeguarding, and maintenance, applying national systems and policy frameworks.
Core objectives of the workshop include:
· Supporting institutions to build and sustain complete, unified asset registers.
· Building technical capacity in asset valuation, depreciation methodologies, and useful life assessment in accordance with IPSAS.
· Enhancing institutional ability to conduct physical asset verifications, monitor asset movements, and mitigate risks of loss, theft, or misappropriation.
Sound fixed asset management is fundamental to effective Public Financial Management. It drives greater transparency, strengthens accountability, enables accurate financial reporting, and ensures that disposals, donations, or transfers are promptly recorded in the National Fixed Asset Register. Consolidated reports from all institutions are submitted to the Accountant General’s Office, providing a comprehensive national overview of government-held assets.
At the closing session, participants and officials reaffirmed the critical need for every government body to formally establish dedicated asset management units. They also stressed that this training must be institutionalized as an ongoing programme for new personnel, and that senior leadership must demonstrate sustained commitment—making asset management a pillar of fiscal efficiency, national resource protection, and public confidence in government financial stewardship.




















































































































