Institute of corporate governance Uganda launches 3rd corporate governance awards
The Institute of Corporate Governance Uganda (ICGU) launched the 3rd edition of the Corporate Governance Awards in an event that underscored the importance of governance in fostering sustainable growth and resilience among organizations in Uganda.
The awards aim to recognize and celebrate organizations that excel in corporate governance, enhancing transparency, accountability, and leadership within their sectors.
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Addressing participants at the launch, Godfrey Kihunguru, President of ICGU, highlighted the significance of good governance practices in promoting organizational sustainability.
He noted that this year’s awards, themed “Recognizing Resilience and Sustainable Impact,” will assess how well Ugandan organizations have implemented governance structures that ensure long-term stability.
Kihunguru remarked, "These awards challenge organizations to continuously improve their governance frameworks, ensuring that they remain resilient while contributing to Uganda's broader economic goals."
The awards will evaluate over 70 organizations from key sectors, including manufacturing, telecommunications, agribusiness, banking, and insurance.
Participating companies will be judged based on their adherence to corporate governance principles, with a focus on how they manage their boards, leadership, and overall operations to meet stakeholder expectations.
Kihunguru extended an open invitation to all organizations, encouraging them to take part and benefit from the independent evaluation process.
Speaking at the event, Martin Anioka, Chief Risk Officer of PostBank Uganda, expressed the bank’s commitment to upholding governance standards and emphasized the importance of these awards in promoting best practices across Uganda’s public and private sectors.
"At PostBank Uganda, governance is not just about following rules; it’s about building a resilient and sustainable organization that can support our stakeholders in the long term," Anioka said.
The awards, scheduled for October 18, 2024, will feature an independent evaluation process to ensure transparency in the selection of winners. These awards are expected to set benchmarks for governance excellence and motivate companies to continuously improve their internal structures and practices.
As Uganda moves toward more sustainable business practices, the ICGU hopes that these awards will encourage organizations to embrace corporate governance as a tool for achieving both financial and social goals.
