Frederick Kakooza of Quality Chemical Industries Limited (Qcil) has been named Uganda’s Chief Financial Officer (CFO) of the Year 2026 at the 10th edition of the CFO Awards, recognising finance leaders for their contributions to business strategy, governance and organisational performance.
Kakooza received the overall award at a gala held at Kampala Serena Hotel on October 16, 2026, organised by the Association of Chartered Certified Accountants (ACCA) Uganda in partnership with Deloitte.
Josephine Njoroge of Uganda Breweries Limited was named first runner-up in the overall category. She also won the Strategy Execution Award.
The awards featured nine categories recognising finance professionals across the private sector, public institutions and non-profit organisations.
Drollah Ssebagala of the Joint Clinical Research Centre won the Not-for-Profit Award, while Phiona Aisu of Oryx Energies Uganda took the SME Award.
Ronald Makata of Stanbic Bank Uganda won the Sustainability Award, and Susan Taffumba Isubikalu of Uganda Electricity Generation Company Limited received the Public Sector Award.
Eunice Muheirwe of Nile Breweries Limited won the Compliance and Governance Award, while Caroline Akello of Aclaim Africa received the Young CFO Award.
Kakooza also won the Leadership Award, while the Finance Transformation Award was shared by Simon Mugisha of Movit Products and Karen Atamba of Biyinzika Poultry International.
CFO role shifts beyond financial reporting
Speaking at the awards gala, Charlotte Kukunda, ACCA Uganda’s Country Managing Partner, said the competition continued to attract new participants, with 21 of the 37 CFOs considered for this year’s awards taking part for the first time.
She said the participation reflected the growth of the awards over the past decade and efforts to shape the future of the finance profession.
Yusta Kasenge, a partner at Deloitte East Africa and CFO Programme Leader for Tanzania, challenged finance leaders to reflect on their professional journeys and consider the role they could play in shaping the future of their organisations.
“Where were you 10 years ago?” Kasenge asked, encouraging participants to consider the opportunities they had taken, the difficult decisions they had made and the uncertain moments that had shaped their careers.
She said the CFO’s role was evolving from explaining past financial performance to helping organisations anticipate future opportunities and challenges.
The awards, she added, were not only about financial performance but also about leadership and the decisions that determine an organisation’s direction.
Josephine Okuyi Ossiya, chief executive officer of the Capital Markets Authority, said CFOs had moved beyond the traditional perception of finance officers as people whose primary responsibility was to reject expenditure.
“The CFO is not simply the person who says no, but the leader who helps organisations make strategic decisions and stand by them,” Ossiya said.
She described finance leaders as stewards of organisational integrity who influence strategic choices and help determine the direction of businesses.
Ossiya also urged senior finance professionals to support emerging talent, saying the next generation should be given opportunities to participate in shaping the profession.
Tanna urges sustainable growth
Chief guest Sanjay Tanna, Minister of Trade, Industry and Cooperatives, congratulated ACCA Uganda and Deloitte on the awards’ 10-year milestone.
Tanna said finance leaders faced the challenge of balancing organisational growth with sustainability in an economic environment that had changed significantly over the years.
He urged participants to reflect on Uganda’s economic progress over the past three to four decades while considering where the country and its businesses should be in the next 10 years.
“Progress can be reversed if the next decade is mishandled,” he noted, arguing that finance professionals had a responsibility to protect existing gains while supporting further growth.
Tanna pointed to developments in technology, tourism and finance as areas of economic progress, emphasising that integrity would remain central to business.
“Where do we want to be 10 years from now?” he asked, challenging finance professionals to consider how their decisions could influence Uganda’s future economic direction.
Previous winner highlights teamwork
Peter Ssenyange, chief financial officer of Pearl Bank Uganda Limited and the 2025 CFO of the Year, shared lessons from his experience in the profession, emphasising execution, teamwork and peer support.
“In our space, it’s professionalism. It’s just the ability to get things done,” Ssenyange said.
He described the award as recognition of collective effort rather than individual achievement. “The award is recognition that pointed my team to the fact that the journey we were on was the right one,” he said.
Ssenyange also spoke about the pressures associated with the CFO position, describing it as a demanding role in which opportunities for candid professional exchange can be limited.
“It’s a very lonely job,” he said, recalling that some of the most useful advice he received came from conversations with fellow candidates in the lobby before the judges’ session.
The 10th edition of the CFO Awards brought together finance professionals and business leaders to recognise achievements in financial management, governance, sustainability and strategic leadership.
ACCA Uganda said it would continue working with partners to advance professional standards and strengthen the role of finance leaders in organisations.
