Standardising, simplifying and strengthening governance of grant funding
The Good Financial Grant Practice (GFGP) is a programme established to strengthen Africa’s research and development infrastructure by developing an innovative standard for the best practices in the management of funds awarded to grantees.
The GFGP seeks to develop a new and integrated system for the financial governance of grant funds awarded to grantees which will standardise, simplify and strengthen the governance of grant funding.
This new approach will include a self-assessment tool to support local NGOs, research institutions and academic centres. It will assist them in recognising potential areas for improvement and enable them to take steps to build their grant management capacity and resilience. This will hopefully attract more funding to these organisations as funders gain confidence of their ability to manage grants.
The GFGP system will consist of:
The goal is for the GFGP system to become the method of choice for the international funder community seeking to strengthen the risk assessment and governance of funds they award either directly or indirectly to awardees in low- and middle-income countries. The ultimate aim is for awardee organisations to become certified as working in compliance to the new standard – analogous to organisations being certified to ISO 9001.
The standard and assessment system will be available for large, small, public, private, local and international organisations – regardless of the size of the grant or their area of activity. The only common denominator is that one organisation is providing a grant / award to another and needs to assess and manage the financial risk of providing those funds.
Delivery of GFGP Programme will be achieved in four phases:
Develop and publish a pan African standard for Good Financial Grant Practice.
Develop a web based assessment system for recipients of funds to measure their compliance to the GFGP standard
Funders and recipients have expressed interest in harmonising reporting requirements.
Currently, funders and grant awardees have to contend with:
The GFGP seeks to change the status quo by:
The GFGP is one of the programmes being implemented under the AESA.