Centum scoops top business ethics award
Centum Investment Company Limited has won top honors for its commitment to upholding high corporate governance standards and ethics.
Centum once again emerged overall second runners up in the Champion of Governance (COG) Awards organized by the Institute of Public Secretaries of Kenya (ICPSK).
The awards are meant to recognize institutions and/or individuals who have exhibited the highest standards of practice in good corporate and institutional governance in Kenya.
This is the second time that ICPSK is running the event. The COG award aims at segregating governance issues and focusing on them separately as key issues that organisations and individuals in the business world have to grapple with. The award also seeks to ingrain sound corporate governance within organisations.
Attorney General, Prof Githu Muigai, who was the chief guest during the ceremony, said that the awards would contribute to promoting high standards of corporate governance in the country.
“Corporate governance aims at ensuring that businesses strive for the highest ethical standards in their functions and activities,” said Mr Muigai.
During the award ceremony held at the Panari Hotel in Nairobi on Friday evening, Centum was recognized in two categories. The company excelled in the ‘Overall Champions of Governance’ category attaining second runners up position.
In the ‘Finance and Investment’ sector, Centum retained the first runners up position.
The award has ten sector categories namely Finance and Investment, Agriculture, Commercial and Services, Industrial and Allied, Statutory Bodies and Small and Medium Enterprises. Others are Local Authorities, Co-operative Sector, Company Secretary of the Year Award and Best Governed Company Overall Award.
The awards are preceded by a rigorous evaluation process focusing on key parameters such as transparency and disclosure compliances; adherence to laws and regulations; annual general meeting and other members meetings; investor relations; communication and public education; and board independence and governance.
Others are consistent shareholder value enhancement; corporate social responsibility; creativity and innovations; corporate strategy; management and human resources issues as well as financial reporting.
Centum CEO James Mworia attributed success in winning the award to consistent focus on improving its reporting systems. “We always strive to adhere to the highest corporate governance practices both as a financial company and listed firm,” said Mr Mworia.