ABG signs US$4.2M deal to modernise public finance

ABG Secretary for Finance and Treasury, Joshua Tauko and Vice President for Public Finance Management of FreeBalance, Dr Aldo Sagastume during the contract signing (NBC News)

The Autonomous Bougainville Government [ABG] has inked a landmark USD $4.19 million contract with global software firm FreeBalance Inc. to overhaul its public financial management system.

The new system will advance transparency and service delivery across the region.

Signed last week by the ABG Chief Secretary, Kearneth Nanei and FreeBalance Asia-Pacific Director, Ferdinand Gamboa, the three-year project will implement the FreeBalance Accountability Suite, a digital platform endorsed by the Bougainville Executive Council in March and certified compliant with national digital standards in June.

Key components include:

- System installation and implementation

- Capacity building via FreeBalance Academy

- One year of intensive Hypercare support

- Participation in FreeBalance’s FLAG Program

ABG Treasury Secretary, Joshua Tauko, Technical Services head, Fiona Levi, and FreeBalance VP, Aldo Sagastume witnessed the signing.

Chief Secretary Nanei says the move marks the beginning of a transformational journey, a gateway to more transparent, efficient, and accountable government.

Scheduled to commence in August 2025, the initiative will decentralize financial services and strengthen fiscal controls at all government levels.

FreeBalance confirmed hybrid (on-site/remote) implementation support to ensure continuity.

The ABG Department of Treasury and Finance will lead the rollout alongside FreeBalance, the National Department of Finance, and stakeholders.

Officials emphasized the project’s role in strengthening Bougainville’s institutional readiness for independence through self-reliant financial systems.