The National Constitution Amendment Committee on Monday met the Minister for Cabinet Affairs - Dr. Martin Elia Lomuro. The Minister was accompanied by his colleague, the Minister for Justice and Constitutional Affairs - Hon. Paulino Wanawila. The purpose of the meeting was to brief the Minister of NCAC’s commencement of work towards the drafting of legislation for the establishment of the Economic and Financial Management Authority (EFMA) to provide oversight over the economic and financial sector in accordance with the peace agreement (ARCSS).

The Peace Agreement mandates the NCAC to draft legislation for the establishment of the EFMA in accordance with Chapter IV Article 8. Article 8.2 provides that the EFMA shall be governed by a board to be known as Board of Economic and Financial Management Authority (BEFMA) comprising the President and the First Vice President of the TGoNU as Chair and Deputy Chair respectively, and Ministers of Finance and Planning, Petroleum, Mining, Roads and Bridges, Governor of the Bank of South Sudan (BoSS), National Revenue Authority, Chair of the Parliamentary Committee dealing with Public Accounts; representatives of Political Parties, South Sudan Chamber of Commerce, Industry and Agriculture (SSCCIA), Civil society, Women’s bloc, Youth and Academia; Article 8.3provides that BEFMA shall appoint the Head of the Authority that shall be endorsed by the Transitional National Assembly (TNA). Article  further 8.4 provides that EFMA shall be supported by an Advisory Committee comprised of: the World Bank, International Monetary Fund, African Development Bank, Common Market for Eastern and Southern Africa (COMESA), PTA Bank, UN-Economic Commission for Africa, United Nations Development Program, and three (3) major donor representatives.

During the meeting, the NCAC briefed the Minister on the initial consultations the Committee has made and of its intention to adopt a participatory process involving consultations with government institutions, experts and stakeholders. The ministers reiterated their commitment and support for NCAC’s work.