ICPAR launches Africa sustainability reporting report in Kigali

By Elias HAKIZIMANA.

The Institute of Certified Public Accountants of Rwanda (ICPAR), in partnership with the Association of Chartered Certified Accountants (ACCA) and regional stakeholders, has launched a report examining the state of sustainability reporting in Africa and Rwanda’s readiness to adopt global standards.

The report, unveiled in Kigali on March 5, 2026, is part of the Sustainability Working Group Africa (SWGA) initiative, which aims to support African countries as they begin implementing international sustainability reporting frameworks.

Speaking at the launch, ICPAR Chief Executive Officer Amin Miramago said sustainability reporting is quickly becoming a central element of modern governance and responsible business practices worldwide.

“Sustainability reporting is no longer a future conversation; it is happening now,” Miramago said. “Organizations are increasingly expected to demonstrate not only financial performance but also how they manage environmental, social and governance risks and opportunities.”

The report features case studies from Rwandan institutions that have begun integrating sustainability considerations into their strategies and operations. These include the Development Bank of Rwanda (BRD), I&M Bank Rwanda and East African Power.

According to Miramago, the experiences of these institutions demonstrate that sustainability is gradually becoming part of long-term business strategy rather than a separate corporate responsibility initiative.

However, the report also highlights several challenges organizations face as they begin adopting sustainability reporting standards. These include limited technical capacity, difficulties in collecting reliable sustainability data and challenges in integrating sustainability information with financial reporting systems.

ICPAR officials say the findings will help guide policy discussions and capacity-building efforts as Rwanda and other African countries adopt global sustainability standards.

Christine Uwamahoro, Quality and Development Manager at ICPAR and Rwanda’s sustainability champion under the initiative, said the program seeks to encourage organizations to begin voluntarily reporting sustainability-related information while building the capacity required for full implementation in the future.

“The main objective is to build capacity and motivate entities to start reporting on sustainability standards,” she said.

She noted that small and medium-sized enterprises (SMEs), which make up the majority of businesses in Africa, are also considered in the roadmap for sustainability reporting.

However, she explained that SMEs will initially be encouraged to adopt the standards voluntarily due to the financial and technical resources required.

“For SMEs, sustainability reporting is still under development, but they are part of the process because sustainability concerns everyone,” Uwamahoro said.

Under Rwanda’s sustainability reporting roadmap, larger institutions are expected to begin early adoption in phases starting in 2026, while SMEs are expected to gradually join the process later, around 2028.

Experts at the event emphasized that organizations should begin the transition gradually, starting with basic reporting tools and building internal capacity over time.

Lessons from countries such as Nigeria and Ghana were also shared during the event, highlighting the importance of regularly reviewing national adoption roadmaps and investing in professional training to support implementation.

ICPAR says accountants will play a key role in ensuring sustainability information is credible, reliable and useful for decision-making.

Miramago said cooperation between regulators, financial institutions, professionals and development partners will be essential for building a strong sustainability reporting ecosystem in Rwanda.

“If we continue working together, Rwanda can position itself as a leader in transparency, accountability and sustainable economic development,” he said.

The report is expected to inform policy development, professional training and institutional capacity building as Rwanda aligns its reporting practices with global sustainability standards.