KAMPALA – Financial Officers were challenged on value creation within their respective organizations in order to fit into the future Chief Value Officer role.
The call was made during the recently concluded 7th edition of the ACCA and Deloitte Chief Financial Officer Awards. The event not only celebrated the excellence but also highlighted the evolving role of financial leaders in today’s dynamic business environment.
Addressing the Awards ceremony themed “The Future Proof CFO: The Emergence of the Chief Value Officer,” Charlotte Kukunda, the ACCA Uganda Country Manager, emphasized the transformative nature of the CFO role. It has evolved from primarily focusing on finance to a broader strategic function, now known as the Chief Value Officer (CVO). Kukunda highlighted the impact of such initiatives in inspiring the next generation of leaders, stating, “Such initiatives create impact and inspire others, especially the next generation of leaders. Through these awards, ACCA and Deloitte aim to recognize and honor outstanding performers while shedding light on this evolving role that is transitioning from CFO to CVO.”
Joseph Owolabi, the ACCA Global President, echoed Kukunda’s sentiments, emphasizing the need for today’s leaders to be agile and innovative in the face of rapid change. Owolabi stressed that finance leaders must be prepared to respond effectively to the evolving global landscape, noting that, “The CFO role has changed almost beyond recognition in just a generation. Successful leaders must be ready to respond effectively and creatively to the rapid pace of change in our world. That’s true of finance leaders today. At ACCA, we are determined to make a contribution through our members and our commercial partners by capturing the true essence of that change and to plot a route through that shifting landscape.”
The Crucial Role of CFOs in Economic Resilience
As the Chief Guest, Hon. Matia Kasaija, Minister of Finance, Planning, and Economic Development, acknowledged the pivotal role played by CFOs in maintaining Uganda’s economic resilience. He commended both the government and private sector, working hand-in-hand with CFOs, for keeping the economy on a steady recovery path despite global disruptions.
“Uganda’s economy has remained resilient despite the disruption from the global economy. The role played by the government and the private sector supported by the CFOs has been instrumental in keeping the economy steadily on its recovery path. The role CFOs are playing will either make a business move forward or backward. Make sure you deliver to the best of your ability and advise.”
Winners of the 7th edition of the ACCA, Deloitte Uganda CFO Awards
- CFO of the Year Award: Andrew Bugembe, CFO MTN Uganda
- 1st Runners-Up CFO of the Year Award: Peter Ssenyange, CFO Post Bank (U) Ltd
- Public Sector Award: Lilian Audo, Chief Finance and Accounts Officer, NMS
- Not for Profit Award: Martha Ddambya, Financial Manager, Save The Children International
- SME Award: Jackson Ssetuba, Finance Operations Lead, WAZI
- Young CFO Award: John Ggolooba, Chief Financial Officer, UAP Old Mutual Uganda
- Compliance & Governance Award: Andrew Bugembe, CFO MTN Uganda
- Strategy Execution Award: Andrew Bugembe, CFO MTN Uganda
- Finance Transformation and Technology Award: Fiona Nuwamanya, FCCA, Director Finance and Administration, Rocket Health
- Sustainability Award: Kelvin Musana, Chief Financial Officer, Standard Chartered Bank Uganda Ltd
- Leadership Award: Peter Ssenyange, CFO Post Bank (U) Ltd
The event, launched by ACCA Uganda and globally adopted in 2017, aims to elevate the profile of CFOs and highlight their critical contributions to the success of organizations. This year’s edition was sponsored by Bank of Uganda, Stanbic Bank, and NBS TV.