Ministry of Finance
Ministry of Finance is charged with managing Mohéli’s economic and financial affairs. Its responsibilities include preparing the island’s annual budget estimates, managing public funds, and overseeing revenue collection (such as local taxes and fees). The Finance Ministry works closely with the Union’s Ministry of Finance since fiscal policies (currency, central bank operations, major taxation) are decided at the national level. However, at the island level, this ministry administers local development funds, coordinates with the Union for the disbursement of national budget allocations to Mohéli, and monitors expenditures of all local departments to ensure accountability.
It also manages financial audits and publishes financial statements to maintain transparency. The Ministry of Finance promotes sound financial management practices and might offer training to other departments on budgeting and procurement rules. It’s the go-to department for businesses regarding tax registration and for government employees regarding payroll. Additionally, in partnership with Union authorities, the ministry facilitates development projects funded by donors (e.g. World Bank or African Development Bank projects on Mohéli) by handling the financial agreements and tracking project spending.
Through prudent fiscal stewardship, the Ministry of Finance aims to ensure that every Franc spent translates into improved services and infrastructure for the people of Mohéli.
