The Ministry of Finance and Budget, Calixte Nganongo is pursuing reforms with Syspace application to control and secure State revenues from natural resources, particularly the oil sector. The second presentation of this State debt payment monitoring application, took place on Wednesday 17 October 2018, in the meeting room of this ministry. The discussions and debates were directed by Henri Loundou, Director of cabinet.

 As part of the control and securing of revenue generated by the natural resources of Congo, the Minister of Finance and Budget has decided to provide the Directorate of Natural Resources (DRN) with a tool for monitoring State debt payments (SYSPACE), under the coordination of the Directorate of Information systems (DSI).

Presented et commented by Ted Galouo Sou, Director of natural Resources at the Ministry of Finance and Budget “This application will automatically perform the tasks relating to the calculation of State rights, in compliance with the legal and contractual provisions inherent to natural resources; to monitor the receipt of amounts owed by companies in the natural resources sectors; to control State debt for natural resource companies”.

Within this framework, DRN will ensure, for instance, the monitoring of oil companies debts, operating on the national territory and ensure their payments, in accordance with agreements governing relations between State and natural resource companies.

Ted Galouo Sou also noted the difficulties encountered in the monitoring of oil companies debts, mentioning, among other things, the manual execution of tasks; the inadequacy of backup media; the lack of monitoring tools for debt payments; the identification and insolvent and doubtful companies; the control of the outstanding amount of the State’s debt for the companies; the complexity of tracking amounts owed by the companies.

Let’s note that the actors involved in the monitoring of oil companies through this application are the National Petroleum Companies of Congo (SNPC), the Public Treasury, DRN, and the Ministry of Hydrocarbons.

It should be noted that several other SYSPACE presentation meetings will take place before its effective implementation in January 2019.

The Press Office of the Ministry of Finance