Audit flags missing approval for $18.5m digital payment balance
Finance Ministry says funds were retained as a working balance for government payment programmes
Thursday 27 August 2026 | 13:30
An $18.5 million balance held with mobile money providers M-PAiSA and MyCash at the end of July 2022, with no documented approval for retaining it, has prompted a clarification from the Ministry of Finance.
The figure is contained in the Standing Committee on Public Accounts’ Review Report on the Compliance Audit Report, which was tabled in Parliament this month.
Auditors said Ministry officials claimed the permanent secretary had approved retaining the funds for future initiatives, but stated they “could not sight documentary evidence authorising this”.
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In a statement on Wednesday, permanent secretary for Finance Shiri Gounder said the balance functioned like a bank account for digital payments and was used to keep the platforms running for programmes including unemployment benefits, the inflation mitigation payout, the bus fare subsidy and back-to-school support.
“M-PAiSA and MyCash serve a similar purpose as a bank account for digital payments,” Mr Gounder said.
He said almost $500 million had moved through the two platforms since 2020, with the balance now standing at $3.18 million.
Mr Gounder said the Ministry raised the matter with the Office of the Auditor-General during the audit exit meeting.
“It seems that this was not explained appropriately in the audit report,” he said.
The committee has invoked Standing Order 112(1)(b), compelling the Ministry to provide a written submission addressing the audit’s findings.
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