The Ministry of Finance and Economic Development of the Republic of Somaliland has launched a major training programme aimed at strengthening the management, registration, and protection of government-owned fixed assets as part of wider efforts to enhance transparency and public financial management.
The training was officially inaugurated today at the Ministry’s conference hall by the Director General of the Ministry of Finance and Economic Development, Mohamed Hassan Salebaan, accompanied by the Accountant General of the Government, Hassan Muse Khalif.
The initiative forms part of the Ministry’s continued implementation of the National Fixed Asset Management Policy, approved in June 2020, which seeks to improve accountability and ensure government assets are properly recorded, valued, and managed.
Speaking at the opening, officials emphasized that while the policy has delivered notable progress over the past several years, implementation challenges remain. Among the key issues identified are the absence of standardized fixed asset registers across some government institutions and the lack of monetary valuations for numerous public assets recorded in government financial statements.
Under the national policy, all ministries, agencies, and government authorities are required to establish a Unified Fixed Asset Register and implement standardized procedures for asset valuation, depreciation, and determining the useful economic life of government assets in line with the International Public Sector Accounting Standards (IPSAS) and internationally recognized best practices.
The training brings together personnel from Fixed Asset Management Units, Procurement Officers, and Logistics Officers representing ministries, agencies, and public institutions across Somaliland. Participants are receiving practical instruction on modern asset registration, tracking, safeguarding, and management systems designed to improve the efficiency and integrity of public asset administration.
According to the Ministry, the programme aims to help government institutions establish and maintain comprehensive and unified asset registers, equip staff with the technical skills required to value assets and calculate depreciation under IPSAS standards, and strengthen institutional capacity to verify assets, monitor their movement, and reduce the risks of loss, misuse, or misappropriation.
Officials stressed that effective management of government assets is a cornerstone of sound Public Financial Management (PFM), contributing directly to improved transparency, stronger accountability, and more accurate financial reporting. A well-managed asset system also enables newly acquired, donated, or transferred government property to be promptly recorded in the National Fixed Asset Register while ensuring that comprehensive asset reports are submitted to the Office of the Accountant General, providing a unified national picture of public assets.
At the conclusion of the workshop, participants underscored the importance of establishing dedicated Fixed Asset Management Units across all government institutions, institutionalizing regular training programmes for both existing and newly recruited staff, and ensuring strong leadership support from senior government officials.
The Ministry reaffirmed that strengthening fixed asset management will play a vital role in safeguarding Somaliland’s public resources, improving financial governance, and reinforcing public confidence in the country’s financial management system.