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.
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"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.
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Overall winner, FiRE Award
Sameer Africa
Promoters Recognition Sector Award
Office of the Director of the Public Prosecutions
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Country Award
Bank of Kigali - Rwanda
CRDB Bank PLC - Tanzania
Umeme - Uganda
Sameer Africa LTD - Kenya
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Governance Category Award
Sameer Africa LTD
Barclays Bank
Britam Holdings – 2 runner up
Environmental and Social Reporting Category Award
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Umeme
CEDB Bank PLC – 1 runner up
Sameer Africa – 2 runner up
Integrated Reporting Category Award
Sameer Africa
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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
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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
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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
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Jomo Kenyatta Foundation – 2 runner up
Listed Category winners
Sameer Africa
SME Sector Award
DUNE Packaging
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Sacco Sector Award
UN Sacco
Mwalimu Sacco – 1 runner up
Stima Sacco – 2 runner up
Not for Profit Sector Award
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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
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State Department of Fisheries – 1 runner up
Micro-Finance Institutions Sector Award
Faulu Microfinance Bank
Insurance Sector Award
Jubilee Insurance
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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
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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
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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
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KTDA Holdings
Williamson Tea Kenya LTD – 1 runner up
Limuru Tea Company LTD – 2 runner up
