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FreeBalance to Share Government Resource Planning (GRP) Expertise at 2011 Annual Meetings of the African Development Bank Group in Lisbon, Portugal


June 6, 2011

Meetings to explore “Towards an Agenda for Inclusive Growth in Africa” theme

Ottawa, Canada (June 6, 2011) – FreeBalance, a For Profit Social Enterprise (FOPSE) software company that helps governments around the world to leverage robust Government Resource Planning (GRP) technology to accelerate country growth, announced that it is attending the Annual Meetings of the Boards of Governors of the African Development Bank Group. The 2011 Annual Meetings will be held in Lisbon, Portugal, at the Lisbon Congress Centre from 09 to 10 June 2011. They will be preceded by technical meetings from 06 to 08 June 2011.

As the premier development finance institution on the continent, the African Development Bank (AfDB) mission is to help reduce poverty, improve living conditions for Africans and mobilize resources for the continent’s economic and social development.

Seminar topics at the AfDB 2011 Annual Meetings include: Launch of the African Economic Outlook; African Financial Markets Initiative workshop; African Governance Outlook (AGO) Session; Roundtable on Sudan; Private Equity in Africa; African Business Financial Opportunities; High Level Forum on Aid Effectiveness; and African Women in Business and Finance: Financial Sector Innovation to Spur Growth.

“FreeBalance has successfully enabled public financial management reforms in Africa,” said Manuel Pietra, President & CEO at FreeBalance. “FreeBalance is working in Africa to support government efforts to promote accountability, transparency and performance with the use of Government Resource Planning (GRP) solutions. FreeBalance has successfully rolled out modern public financial management systems in Liberia, Namibia, Sierra Leone, Southern Sudan, and Uganda. Our mission is to help African countries leverage technology to support economic growth and aid development through transparent and accountable financial systems.”

The FreeBalance vision for financial management in governments in Africa aligns well with the 2011 Annual Meeting agenda. The FreeBalance Accountability Suite was designed specifically for public financial management and covers the entire budget cycle including budget preparation, budget execution and civil service management. Countries in Africa that are introducing public financial management reforms require an experienced partner that has repeatedly overcome the challenges of rolling out a modern public financial management system in challenging circumstances. This includes overcoming the lack of physical infrastructure, low capacity, resistance to change and an appropriate sequence to reflect legal reform.

FreeBalance is active in 19 countries, including Antigua & Barbuda, Afghanistan, Canada, Iraq, Kosovo, Kyrgyz Republic, Liberia, Mongolia, Namibia, Pakistan, Sierra Leone, Southern Sudan, Timor-Leste, and Uganda among others. FreeBalance software manages more than a quarter trillion ($US) annual budgets worldwide. More than 70,000 users around the world use FreeBalance software to manage a global civil service workforce of 1,500,000.

About the African Development Bank
The African Development Bank (AfDB) Group is a regional multilateral development finance institution established to contribute to the economic development and social progress of African countries that are the institution’s Regional Member Countries (RMCs). The AfDB was founded following an agreement signed by member states on August 14, 1963, in Khartoum, Sudan, which became effective on September 10, 1964. The AfDB comprises three entities: the African Development Bank (ADB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF).

About FreeBalance
FreeBalance helps governments around the world leverage robust Government Resource Planning (GRP) technology to accelerate country growth. FreeBalance software solutions for public financial and human resource management support reform and modernization to improve governance, transparency and accountability. Good governance is required to improve development results. For more information, visit


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Matthew Olivier

Matthew Olivier

Vice President, Marketing at FreeBalance
Matthew is responsible for providing strategic marketing, communication, and business development direction for FreeBalance products, solutions and services. Matthew leads marketing and business development activities to support FreeBalance growth and brand awareness in the GRP market.

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