Minister of Finance and Economic Affairs Sosten Gwengwe has opened this year’s three-day Institute of Chartered Accountants in Malawi (Icam) annual lakeshore conference, advising accountants to move with the times and digitise their operations.
Speaking Thursday evening in Mangochi during the conference that has attracted more 1 000 local and foreign delegates, the minister said as the country is heading towards a robust digital economy, accounting professionals should be the first to embrace the digital philosophy.
“Embrace digital payments. Embrace online transactions. Allow investments in information and communications technology infrastructure,” said Gwengwe.
He said this year’s conference theme ‘Digitising the Malawi Economy: Stepping Into the New Future’, underscores the fact that a robust digital economy starts with it being embraced by the citizenry.
Outgoing Icam president Phyles Kachingwe said the local accounting profession should not be left behind as the world is going digital.
“As accountants, we have an opportunity to change with the times or we will remain behind,” she warned.
Icam acting chief executive officer Charles Chimpeni said the group’s membership has grown to nearly 3 000, and their plan is to hit 3,500 by the end of this year and 4 000 by 2023.