USE CEO Paul Bwiso hands over Infectious Diseases Institute takes home the award for their continued exemplary financial integrity, accountability and transformative social impact through its work. (Courtsey Photo)

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Global investors are increasingly directing funds toward companies with strong sustainability practices, signalling a decisive global shift toward responsible investing and long-term Environmental, Social, and Governance (ESG) performance.

Speaking at the 15th edition of the Financial Reporting (FiRe) Awards held at Hotel Africana, Paul Bwiso, the Chief Executive Officer of the Uganda Securities Exchange (USE), described sustainability reporting as a “strategic imperative” that defines modern business resilience and competitiveness.

“Globally, sustainability reporting has become the new normal. It’s not just a moral choice—it’s a smart strategy for managing risk and building long-term resilience,” Bwiso said. Citing a 2020 KPMG survey, he noted that 96% of the world’s 250 largest companies report on sustainability, while 79% of the top 100 firms in 58 countries publish annual ESG reports.

Bwiso emphasised that investor priorities are rapidly evolving, with capital increasingly flowing toward businesses that demonstrate measurable social and environmental impact. “Over $300 trillion in assets are now managed under ESG principles globally, redefining what investors expect from listed companies,” he revealed.

CPA Timothy Ediomu during the FiRE Awards at Hotel Africana. (Courtsey Photo)

He commended Stanbic Holdings Uganda, MTN Uganda, and Umeme Limited for leading in sustainability reporting and aligning with global best practices.

Bwiso also announced that the USE has developed Sustainability Guidance for Listed Companies, a framework awaiting approval by the Capital Markets Authority (CMA) to align Uganda’s capital markets with international standards in sustainable finance.

Additionally, USE is working with the Institute of Certified Public Accountants of Uganda (ICPAU) to adopt the IFRS Sustainability Disclosure Standards, and over 200 professionals have been trained under the USE Academy ESG Masterclass.

Quoting the Global Sustainable Investment Alliance’s 2024 Report, Bwiso said, “Sustainable investments now represent over 36% of all professionally managed global assets—a clear indication that capital is flowing toward responsible and transparent businesses.”

ICPAU President CPA Timothy Ediomu welcomed the move toward standardised sustainability disclosure, noting that it will enhance transparency and comparability. “The standards will enable consistent and comparable disclosures on sustainability and climate, helping institutions better communicate their risks, opportunities, and performance,” he said.

This year’s FiRe Awards, themed “Sustainability Practices and Reporting in Uncertain Global Times,” attracted a record 119 entities, including 42 first-time entrants, underscoring Uganda’s growing commitment to transparency and sustainability in financial reporting.

Opening the event, CPA Stephen Ineget, Chair of the FiRe Awards Committee, said the milestone marks 15 years of progress in promoting integrity and sustainability in financial reporting.

Delivering the keynote address, Prof. Aaron Mushengyezi, Vice Chancellor of Uganda Christian University (UCU), urged institutions to build resilience through focus, efficiency, and adaptability. “Excellence is like a light on a hill—it shines for all to see. You cannot say you’re excellent until your peers affirm it,” he said, calling on organisations to demonstrate excellence through their operations, customer care, and infrastructure.

He outlined four principles for sustainability: consistency in mission and vision, strategic resource allocation, effective bureaucracy, and a “business-unusual” mindset. “Building resilient institutions is not just a passion—it is a responsibility,” he added.

In the SACCOs and Cooperative Societies category, Exodus SACCO emerged as second runner-up, following Steadfin SACCO (winner) and Wazalendo SACCO (first runner-up).

Senior Commissioner of Police Wilson Omoding, Chairperson of Police Exodus SACCO, applauded ICPAU for recognising the SACCO’s commitment to accountability and good governance. “This achievement has not been a simple journey. We have submitted annual reports for scrutiny and implemented ICPAU’s guidance, especially in environmental and social governance,” he said.

Omoding emphasised that transparency and member satisfaction remain at the heart of the SACCO’s operations. “Whenever members raise issues, we respond and ensure their concerns are addressed,” he said, crediting the SACCO’s strong governance structure and partnership with the Inspector General of Police, who serves as patron, for strategic direction.

He also commended the media for amplifying the SACCO’s story and inspiring continuous improvement. Omoding noted that consistent participation in the FiRe Awards has strengthened Exodus SACCO’s capacity in ESG and Sustainability Reporting, positioning it as one of Uganda’s emerging models for responsible financial management.