This African Financial Governance Outlook (AFGO), Effective Public Financial Management for Sustainable Development, is a new flagship report to enrich understanding of public financial management and its contribution to good governance, with the ultimate aim of reducing poverty and delivering sustainable and inclusive economic growth. It complements quantitative indicators with qualitative analysis to show trends over time and to explain the drivers of change in financial governance across AFGO pilot countries.Covered in this outlook are 10 African countries that have participated in the African Peer Review MechanismBurkina Faso, Ethiopia, Ghana, Kenya, Mali, Mozambique, Rwanda, Senegal, Tanzania, and Uganda. The countries were drawn from the different regions and represent different political and administrative traditions (Anglophone, Francophone, and Lusophone) to ensure a wide range of countries. They were analyzed using a financial governance matrix that combined five financial governance arenas of Budget Governance, Revenue Governance, Internal Controls, Public Procurement, and External Audit as well as five political governance variables of Inclusiveness, Openness, Rule Compliance, Oversight, and Capability. The quantitative results in chapter 3 show a wide variety of performances for different countries in different arenas and indicators.