The Ministry and Linpico Sarl in a joint venture with PFM Smart System has signed a contract for the designing and development of the Integrated Financial Management Information System (IFMIS).
The tender process to develop this software was an ‘Open Tender’ where both local and international companies could bid. There were no submissions from local companies.
The signing ceremony took place this morning with PS for Finance, Ms. Astride Tamatave signing on behalf of the ministry.
“The system is designed to incorporate the whole public finance management framework, from the budget planning to its execution, and it will also include monitoring and control, assets management, inventory, procurement, revenue management and collection, and payments. It is also designed to ensure integration of all PFM modules and allow for real data, which will be beneficial to members of the public, stakeholders and the ministry.”
The core system of IFMIS will cost an estimated $3 million, but the overall cost of the project is estimated to be around $7.7 million, which will include but not limited to technical assistance, procurement of new hardware and upgrading of current hardware.
The contract to develop IFMIS is to start this year and to be completed by early 2026.
The signing of the contract is another milestone in the government’s digital economy agenda to digitalise its services.