By Abraham Malinga
Communications Intern – ICPAU
Mr. Paul Bwiso, the CEO of the Uganda Securities Exchange (USE) has commended listed companies for their proactive approach to financial reporting and their commitment to Environmental, Social, and Corporate Governance (ESG) guidelines.
"We've set ESG guidelines for our listed companies, and we commend their proactive approach to financial reporting,” stated Mr. Bwiso.
“Listed companies consistently raise the bar each year, ensuring investors and stakeholders receive relevant information," he added.
The Uganda Securities Exchange, a pivotal player in the country's financial market, has been at the forefront of promoting ESG principles in the region. With the growing recognition of the importance of ESG criteria in investment decisions, USE continues to engage with sector players on ESG matters. The Exchange has recently organised an ESG masterclass in partnership with the Nairobi Securities Exchange. The masterclass is poised to become a pivotal educational platform for listed companies, stakeholders, and market participants. By providing in-depth training and insights into ESG best practices, the exchange is aiming to equip businesses with the necessary tools to integrate ESG considerations into their operations effectively.
Mr. Bwiso also unveiled a commitment by the Uganda Securities Exchange to introduce introductory ESG training to 50 stakeholders of listed companies. This is intended to create more value for not only the investors but also for the people who prepare reports, ultimately helping investors to make more informed decisions.
This proactive step toward ESG education and awareness underscores the Exchange's dedication to fostering sustainable business practices and responsible investing in the Ugandan and regional markets.
“Setting ESG guidelines, organising the ESG masterclass, and offering introductory training will collectively contribute to the growth of a more responsible and sustainable financial ecosystem in the region,” noted Mr. Bwiso.
The FiRe Awards, which celebrated excellence in financial reporting, served as a fitting backdrop for Mr. Bwiso to champion the cause of ESG and applaud the unwavering commitment of listed companies towards responsible financial reporting. This commitment not only benefits investors but also strengthens the foundations of ethical and sustainable business practices in Uganda.
