MTN Uganda has won an award in this year’s Financial Reporting (FiRe) Awards held at Hotel Africana in Kampala.

The telecom company beat its competitors: Umeme, BAT Uganda, CIPLA Uganda, and Uganda Clays Ltd to emerge a winner in the Consumer and Industrial Products Category A. MTN Uganda also received a certificate of recognition for outstanding achievement under the listed companies’ category.

The FiRe Awards are held annually to promote consistent and high-quality financial reporting in all sectors of the economy and to build stakeholder confidence and trust.

Participation in the Awards presents an opportunity for entities to benchmark their annual reports with up-to-date financial and business reporting requirements.

Andrew Bugembe, Chief Finance Officer for MTN Uganda and the team that received the award couldn’t hide the excitement.

“We are very proud of this achievement as it aligns with our values of accountability and integrity to provide quality financial reporting to all our stakeholders,” he said.

ICPAU President Constant Othieno Mayende said there’s been a tremendous improvement in the quality of financial reporting in Uganda in the past few years.

“Organisations have also reported increased stakeholder confidence as well as increased ability to raise capital,” he said.

MTN Uganda was incorporated in 1998 to operate as a second national operator of a telecommunications network service provider and currently serves more than a 16.7million subscribers.

Last year, it became the largest locally-listed company on the Uganda Securities Exchange worth UGX 4trillion and employs approximately1, 048 employees directly and indirectly.

The FiRe Awards organised by the Institute of Certified Public Accountants of Uganda (ICPAU), Uganda Securities Exchange (USE) and the Capital Markets Authority (CMA) was held under the theme: “Corporate Reporting: Strengthening Environmental, Social and Governance Reporting.”