MONDAY, NOVEMBER 19, 2018 20:3
Sameer Africa has been named the best firm in financial reporting in East Africa for the second year in a row in an annual fete aimed at enhancing accountability, transparency and integrity among public and private firms.
The Nairobi Securities Exchange (NSE)-listed firm – which has interests in sectors such as manufacturing, agriculture and transport – emerged tops among the 503 companies that participated in the 2018 FiRe (excellence in financial reporting) awards.
Entries into this year’s competition were higher than 456 in 2017.
Public sector firms dominated the entries with a total 408 compared to last year’s 362, while participation by private sector rose marginally to 95 from 92 in 2017.
“Increased participation by the public sector underpins the commitment to more open accountability in the use of public funds and offers the entities an opportunity to be assessed against global standards,” Rwanda’s Auditor-General Obadiah Biraro, the chief guest at the gala night, said in a press statement.
The event, now in its 17th edition, is jointly organised by the Capital Markets Authority (CMA), the Institute of Certified Public Accountants of Kenya (ICPAK), Public Sector Accounting Standards Board (PSASB), and the Nairobi Securities Exchange (NSE).
Sameer Africa retained its pole position in industrial, commercial and services as well as listed firms’ category, propelling it to top position in Kenya and East Africa.
Diamond Trust Bank (DTB) was named the winner in banking category, CIC Insurance Group (insurance), Kenya Tea Development Holdings Limited (agriculture), Faulu (microfinance), UN Sacco (Saccos) and Kenya Power Pension Fund Defined Contribution in the not-for-profit category.
Other winners were NIC Bank in governance category, Stanbic Bank of Uganda (Environmental and Social Reporting) and Stanbic Bank Kenya (integrated reporting).