Sunday, October 28, 2012

NIC Bank Scoops Overall 2012 FIRe Awards

NIC Bank was named the overall winner of the 11th edition of the Financial Reporting (FIRe) Awards at an awards ceremony held at Safari Park Hotel on Friday.
The bank, which had a 238 percent oversubscription of its rights issue, also bagged other awards in the Bank, Listed Companies, and IFRSs Category as well as Kenya’s winner in the country category.

The FIRe awards seek to recognize exemplary accounting standards among companies in the East African Region. It also seeks to promote and institutionalize transparency, integrity, and accountability in the corporate reporting process.
This year’s awards received 93 entries, the highest number since its inception in 2002.   

Here are the other awardees:
Winner Uganda – Stanbic Uganda
Winner Tanzania – Swissport Tanzania  
Winner Rwanda – Bank of Kigali
Insurance Category – PanAfrican Holdings
Industrial, Commercial and Services Category – Centum Investments
SACCO’s Category – Unaitas (previously Muramati Sacco)
Not for Profit Category – Strathmore University   
Corporate Governance Category – Barclays Bank of Kenya
SME Category – Sai Pharmaceuticals
Corporate Social Investment Category – Standard Chartered Bank
IPSAS Recognition Award Cash Basis – Ministry of Foreign Affairs, Rwanda
IPSAS Recognition Award Accrual Basis – Kenya Roads Board
IFRS’s for SMEs Recognition Award – Melvin Marsh International Ltd
Promoter’s Recognition Award – AMACO Assurance

The Nairobi Securities Exchange (NSE), Capital Markets Authority (CMA), and the Institute of Certified Public Accountants of Kenya (ICPAK) organize the annual award.

“Coming together is a beginning; Keeping together is progress; working together is success.” -  Henry Ford

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