Sameer Africa scoops top award in 2017, FiRE Awards

This year saw a total 456 financial institutions submit their names for the awards majority of whom came from the public sector.

The FiRe award, a joint initiative of the Institute of Certified Public Accountants of Kenya (ICPAK), the Capital Market Authority (CMA) Kenya, and the Nairobi Securities Exchange (NSE) was founded and held for the first time in 2002.

Its primary objective is to strengthen financial markets and attract investment by encouraging business entities to make disclosure of their activities to enable a wide range of stakeholders use such information in making economic decisions.

This years chief guest was James Zhan, senior director  investment and enterprise  at the United Nations Conference on Trade and Development (UNCTAD) who represented the Secretary-General of UNCTAD Dr. Mukhisa Kituyi who was could not attend the event.

"Over the past twenty years, the goal of financial reporting lanscape has been overhauled with the introduction of the international reporting reporting system, enterprises in 126 jurisdiction now have to prepare their financial statements in accordance with the IFRS"

"More than half of the 49,000 companies listed in the worlds top 88 security  exchanges use IFRS and a combined GDP of countries that apply IFRS amounts to 46 trillion US dollars"  Mr. Zhan said.

The Award is a result of a rigorous evaluation process using globally accepted principles and best practice standards and overseen by some of the best financial experts in the market.

This year saw a total  456 financial institutions submit their names for the awards majority of whom came from the public sector, 364 were public financial institutions and 92 come from the private sector.

And here are the FiRE award winners, 2017.

Overall winner, FiRE Award

Sameer Africa

Promoters Recognition Sector Award

Office of the Director of the Public Prosecutions

Country Award

Bank of Kigali - Rwanda

CRDB Bank PLC - Tanzania

Umeme - Uganda

Sameer Africa LTD - Kenya

Governance Category Award

Sameer Africa LTD

Barclays Bank

Britam Holdings – 2 runner up

Environmental and Social Reporting Category Award

Umeme

CEDB Bank PLC – 1 runner up

Sameer Africa  – 2 runner up

Integrated Reporting Category Award

Sameer Africa

Barclays Bank – 1 runner up

KCB holdings – 2 runner up

IFRS Reporting Framework Award

CRDB Banking Group LTD

Barclays Bank of Kenya LTD – 1 runner up

Equity Group Holdings LTD – 2 runner up

IFRS or SME Reporting Framework Award

Kenya Bankers Association

IPSAS ACCRUAL Reporting Framework Award

Competition Authority of Kenya

Brand Kenya – 1 runner up

Kenya Copyright – 2 runner up

State Corporation and Semi-Autonomous Government Agencies (SAGAs) under IFRS Sector

KENGEN

IDB Capital – 1 runner up

Jomo Kenyatta Foundation – 2 runner up

Listed Category winners

Sameer Africa

SME Sector Award

DUNE Packaging

Sacco Sector Award

UN Sacco

Mwalimu Sacco – 1 runner up

Stima Sacco – 2 runner up

Not for Profit Sector Award

Starthmore University

KENGEN Defined Benefits (DC) Scheme – 1 runner up

KASNEB Retirement Benefits Scheme – 2 runner up

Ministries/Department/Agency Sector Award

National Intelligence Service

State Department of Fisheries – 1 runner up

Micro-Finance Institutions Sector Award

Faulu Microfinance Bank

Insurance Sector Award

Jubilee Insurance

Britam Holdings Limited – 1 runner up

Britam Assurance – 2 runner up

Industrial Commercial & Services Sector Award

Sameer Africa LTD

Kenol Kobil LTD – 1 runner up

Trans Century Limited – 2 runner up

Independent Offices & Constitutional Commissions Reporting under IPAS CASH Sector Award

Office of the Controller of Budget

Registrar of Political Parties – 1 runner up

Public Service Commission – 2 runner up

Bank Sector Award

CRDB Banking Group LTD

Barclays Bank of Kenya LTD – 1 runner up

Equity Group Holdings LTD – 2 runner up

Agriculture Sector Award

KTDA Holdings

Williamson Tea Kenya LTD – 1 runner up

Limuru Tea Company LTD – 2 runner up

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