The modern state in most African countries is a relatively new construct, which continues to struggle to carry out its basic functions. As a core state function, public financial management (PFM) is an area in which many countries have been trying for several decades to build capabilities. PFM encompasses a whole range of governmental functions undertaken by separate entities from budget planning and formulation to auditing and evaluation. The complexity of the process of putting together and managing a budget for an entire government requires countries to possess a series of interlinked capabilities to keep the government running effectively. Accordingly, it is important to keep track of key PFM capabilities with a view to identifying areas for improvement and the facilitation of incremental reforms.