FiRe Awards: MTN Scoops Gold as NSSF Takes Multiple Honours

The 2025 Financial Reporting (FiRe) Awards concluded with a spectacular celebration of transparency, accountability, and sustainability, honouring organisations that are redefining excellence in corporate reporting.

Held at Hotel African in Kampala under the theme “Sustainability Practices and Reporting in Uncertain Global Times,” this year’s edition marked 15 years of recognising outstanding institutions that demonstrate integrity and innovation in financial and sustainability reporting.

The Institute of Certified Public Accountants of Uganda (ICPAU), in partnership with the Capital Markets Authority (CMA), the Uganda Securities Exchange (USE), and New Vision, announced a record 119 participants, the highest in the awards’ history — reflecting growing commitment to best reporting practices across Uganda’s corporate landscape.

MTN Uganda Leads with Gold, NSSF Takes Multiple Honours

Telecommunications giant MTN Uganda Limited emerged the biggest winner of the night, taking home the prestigious Gold Award for Integrated Report of the Year and the Sustainability Reporting Award.

The judging panel commended MTN for a report that demonstrated clarity, impact, and a strong link between financial results and environmental, social, and governance (ESG) initiatives.

“MTN Uganda’s integrated report was well-referenced, concise, and effectively communicated how sustainability drives business strategy,” the panel noted.

The National Social Security Fund (NSSF), a consistent top performer at the FiRe Awards, clinched the Corporate Governance Reporting Award and the Silver Award for Integrated Reporting. The Fund also emerged Winner in the Parastatals and Government Business Enterprises (GBEs) category for its high-quality disclosures and leadership in accountability.

Stanbic Uganda Holdings Limited was recognised with the Bronze Award for Integrated Report of the Year and crowned Best Listed Entity, reinforcing its position as a benchmark for excellence in financial communication.

Public Sector, Parastatals, and Regulatory Excellence

In the Public Sector category, the Law Development Centre (LDC) was named overall winner for its exceptional transparency and governance in reporting. Judges praised the LDC for “demonstrating strong accountability and clarity in the management of public resources.”

Among parastatals, NSSF once again topped the list, followed by New Vision Printing and Publishing Company Limited as 1st runner-up and the Uganda National Oil Company (UNOC) as 2nd runner-up.

In the Regulatory Bodies and Associations category, the Bank of Uganda emerged as the winner, with the Electricity Regulatory Authority (ERA) taking the 1st runner-up position.

“These institutions play a vital role in promoting sound governance and transparency across sectors,” said CPA Stephen Ineget, Chairperson of the FiRe Awards Committee.

Private Sector and Industry Leaders Celebrated

In the Consumer and Industrial Products categories, MTN Uganda took top honours again, followed by Uganda Clays Limited and Quality Chemical Industries Limited. In the second sub-category, Uganda Crop Care Limited, Kibao Enterprises Limited, and Neptune Financial Software Uganda Limited were recognised for outstanding reporting and governance practices.

In the Credit Institutions category, Brac Uganda Bank Limited was crowned winner for its credible and inclusive financial disclosures, reinforcing its leadership in accessible financial services.

The Insurance Companies category saw UAP Old Mutual Insurance Uganda Limited win in Category A, with Uganda Reinsurance Company Limited and Liberty General Insurance Uganda Limited taking 1st and 2nd runner-up, respectively. In Category B, Liberty Life Assurance Uganda Limited was named the winner, followed by Prudential Assurance Uganda Limited.

Non-Profit and Grassroots Impact Recognised

The Infectious Diseases Institute (IDI) triumphed in the Non-Profit Organisations category, ahead of the Joint Clinical Research Centre (JCRC) and Baylor College of Medicine Children’s Foundation Uganda.

In the SACCOs and Cooperative Societies category, Steadfin SACCO emerged winner, followed by Wazalendo SACCO and the Exodus SACCO of the Uganda Police Force, which was recognised for empowering communities through financial inclusion.

“Your commitment to financial integrity and accountability empowers communities across Uganda,” said CPA Ineget while announcing the grassroots category winners.

Education, SMEs, and Public Interest Entities Recognised

The Research and Education Network for Uganda (RENU) received the Reporting under IFRS for SMEs Award for demonstrating accuracy and high-quality financial reporting under international standards.

SNV Netherlands Development Organisation won the Reporting under IPSAS Award, commended for exemplary reporting within the public sector.

Makerere University Retirement Benefits Scheme emerged as the winner in the Retirement Benefits Services category, followed by the Bank of Uganda Defined Benefits Scheme and the Bank of Uganda Defined Contributions Scheme, for demonstrating prudent fund management and strong member accountability.

A Night of Integrity and Inspiration

In his closing remarks, CPA Stephen Ineget applauded all participants for raising the bar in Uganda’s financial reporting standards. “Integrated reporting is not just about compliance—it’s about communicating value creation, resilience, and sustainability to stakeholders,” he said.

The FiRe Awards continue to serve as a key platform for recognising organisations that embody good governance, sustainability, and professionalism in Uganda’s financial ecosystem.

As the awards marked 15 years of promoting integrity in reporting, CPA Timothy Ediomu, President of ICPAU, reaffirmed the Institute’s vision: “The FiRe Awards are not just a competition; they are a movement. They challenge us all to tell our stories truthfully, to report responsibly, and to inspire trust in Uganda’s corporate and public institutions.”