Police Exodus Sacco, MTN, and Liberty Life Win as Wazalendo and NWSC Receive Recognition

The Uganda Police Exodus Sacco Ltd was named the Most Improved Entity in Financial Reporting in Uganda at the Financial Reporting (FiRe) Awards 2022, held at Hotel Africana in Kampala on Thursday, November 10, 2022.

The awards are organized by the Certified Public Accountants Uganda Institute (ICPAU).

According to the FiRe awards committee, the recipient of this prize (Exodus Sacco) made significant improvements to their Annual Report. The entity demonstrated a significant commitment to implementing the 2021 FiRe Awards feedback report’s recommendations.

Exodus SACCO was recognized Uganda’s most improved entity in financial reporting.

The Committee observed that the business adequately resolved the previously identified financial reporting concerns and exhibited a commitment to adopting best practices in corporate reporting.

Overall, the report exhibited a strong dedication to continual improvement.

ASP Sekanjako Eddy, the board treasurer of EXODUS SACCO, earned the prize.

ASP Sekanjako Eddy

ASP Sekanjako stated on the sidelines of the Awards that the SACCO’s recognition is due to the confidence of its members.

ASP Sekanjako committed to promote public accountability and transparency: “It’s a driving force for us. We will be more transparent than ever before. We are honored to have received the Award.”

Stanbic Uganda Holdings Limited was named the winner of the award for the Best Listed Corporation because it provided the majority of the information anticipated from a listed entity.

The study offered insightful data and analysis regarding the organization’s performance, threats, opportunities, and long-term prospects.

The information was trustworthy and comparable with performance and the complete value-creation process, environmental, social, and governance parameters. From our perspective, the report offered prospective market participants with information that would aid in investment decision-making and stewardship.

Child’s I Foundation won the International Financial Reporting Standards for Small and Medium-Sized Entities (IFRS for SMEs) award as a result of its financial statements meeting the IFRS for SMEs requirements.

This organization embraced the standard’s simplifications and supplied meaningful and pertinent information.

information in its annual report. The extent of accountability and transparency exhibited in the report was very impressive.

SNV Netherlands Development Organization Limited won the International Public Sector Accounting Standards (IPSAS) award for well-presented financial statements complying with the requirements of IPSAS.

The entity’s report provided a wide range of well-assembled information including both mandatory and non-mandatory reporting requirements.

“From our perspective, this would enable stakeholders to obtain a comprehensive understanding of the organization’s objectives, performance, and position for both financial and non-financial terms,” said the FiRe awards committee.

Other winners:

Banking Services:

Winner – Centenary Bank

1st Runner–Up – DFCU Bank

2nd Runner–Up – Stanbic Bank

Other Financial Services Category:

SBG Securities Uganda Limited and UAP Old Mutual Uganda

Recognition for achievement in financial reporting under the Insurance Services Category went to Britam Insurance Uganda.

Recognition for achievement in financial reporting under the Other Insurance Services Category went to Willis Towers Watson Insurance Brokers  Kiboko Financial Services.

Recognition for achievement in financial reporting under the Public Sector Category went to National Water and Sewerage Corporation (NWSC).

Recognition for achievement in financial reporting under the Consumer & Industry:

Category A: Cipla Quality Chemicals

Category B: Harley’s (U) Limited and Uganda Crop Care Limited.

Insurance Services category:

Winner – Liberty Life Assurance

Liberty Life Assurance Co. Limited.

1st Runner Up – Liberty General Insurance Limited

2nd Runner Up – Uganda Reinsurance Company.

Public Sector:

Winner – NSSF

1st Runner Up- New Vision

2nd Runner Up: Deposit Protection Fund of Uganda

Consumer and Industrial Products Category A:

Winner – MTN Uganda

1st Runner Up – Umeme Ltd

2nd Runner Up – Uganda Clays Limited

In category of the Consumer & Industrial Products A , @ugandaclays established in 1950 takes the second runner up position in the

The First runner up position goes to @UmemeLtd and the overall winner goes to @mtnug #FiReAwards22 pic.twitter.com/8eViTYGLSp

— Ms. Pamella Nabasa 🌻🤍 🌙 (@ankoleroyalty) November 10, 2022

Retirement Benefits Schemes:

Winner -Makerere Retirement Benefits Scheme

1st Runner up – Bank of Uganda Defined Contributions Scheme

2nd Runner up – Bank of Uganda Defined Benefits Scheme

3rd Runner up-Wazalendo SACCO

Wazalendo SACCO received a certificate of recognition upon emerging as the 3rd Runners Up

Cooperative Societies:

CPA SACCO, Y-Save Multi-Purpose and Wazalendo SACCO awarded certificates of recognition.

Education Institutions Category:

Certificate of Recognition in Education and Research went to Ndejje University.

 

Recognition for SACCOs: The certificate goes to CPA Sacco.

2nd Runner Up- Y-Save Multipurpose Cooperative Society

1st Runner-up – Wazalendo Sacco and SteadFin Uganda SACCO Ltd

More recognitions:

Recognition for achievement in financial reporting under the Forex Bureau Category went to Metropolitan Forex Bureau Limited.

DFCU Group

Recognition for achievement in financial reporting under the Cooperative Societies Category went to CPA SACCO Limited.

Recognition for achievement in financial reporting under the Retirement Benefits Schemes Category went to UNRA Staff Retirement Benefits Scheme.

Recognition for achievement in financial reporting under the Regulatory Bodies and Associations Category went to Electricity Regulatory Authority (ERA).

Recognition for achievement in financial reporting under the Not-for-Profit Organizations Category went to Uganda Martyrs Hospital – Lubaga.

Recognition for the Most Improved Report went to the Bank of Baroda Uganda.

Recognition for achievement in financial reporting under the Banking Services Category went to Uganda Development Bank.

@FINCA_Uganda bank accounting team is here. #FiReAwards22 pic.twitter.com/PJsYiwBL8o

— ICPAU 🇺🇬 (@ICPAU1) November 10, 2022

FINCA Uganda received an award for excellence in financial reporting in the Microfinance Deposit-Taking Institutions Category.

National Social Security Fund (NSSF) and Centenary Bank received both the Award for Good Corporate Governance Reporting and the Award for Good Sustainability Reporting.

Umeme Restricted

NSSF and Umeme Limited were honored for their accomplishments in Communication and Presentation.

Send a Cow Uganda and The Research and Education Network for Uganda were awarded the International Financial Reporting Standards (IFRS) for SMEs Category Achievement Award for Financial Reporting (RENU).

Cipla Quality Chemicals and MTN Uganda were recognized for their achievements in the Listed Category.