The Kenya Tourism Board (KTB) has been recognized for its outstanding financial reporting practices at the 23rd Annual Financial Reporting (FiRe) Awards held in Nairobi.
The board emerged as the top winner in the State Corporations and Semi-Autonomous Government Agencies (SAGAs) category for its compliance with International Public Sector Accounting Standards (IPSAS) accrual basis reporting.
Established in 2002 through a collaboration between key financial sector players, the FiRe Awards promote transparency and integrity in financial reporting across the public and private sectors in Kenya.
The awards recognize entities that demonstrate exemplary disclosure practices and compliance with applicable reporting standards.
KTB CEO June Chepkemei welcomed the recognition, terming it a reflection of the board’s commitment to high governance standards.
“We are honoured to be recognized for excellence in financial reporting, which reflects our commitment to high governance standards. As a state corporation entrusted with promoting Kenya as a leading tourism destination globally, adopting best practices in transparency and accountability is paramount,” she said.
She further emphasized that the award was a testament to the board and management’s emphasis on integrity, openness, and adherence to regulations.
“This award motivates us to scale even greater heights,” she added.
The 2024 awards were themed “Championing Effective Sustainability Reporting through Technology and Innovation to Enhance Transparency.”
Chepkemei noted that sustainability reporting had become a business imperative, and KTB had integrated environmental, social, and governance (ESG) principles into its corporate strategy.
“Reporting on ESG metrics is no longer optional but a business imperative. At KTB, we have embedded sustainability into our corporate strategy because, as a tourism promotion agency, our mission is intertwined with conservation and community empowerment,” she said.
She added that technology would play a critical role in enabling more consistent and real-time sustainability reporting.
“New technologies will be a game changer in enabling more consistent, reliable, and real-time sustainability reporting. We are excited to be pioneers in this journey.”
The FiRe Awards evaluation criteria focus on compliance with reporting frameworks, governance disclosures, integration of sustainability information, and overall quality.
Winning the prestigious award not only affirms KTB’s leadership in financial reporting but also enhances stakeholder confidence and partnerships.
