“If you can’t account, you don’t count,” remarked Obadiah. R. Biraro, the President ICPAR (Institute of Certified Public Accountants of Rwanda) while addressing delegates gathering in Kigali from 6th to 9th May, 2025 for the 8th Africa Congress of Accountants (ACOA).
Happening at Kigali Convention Center under the theme: “Creating Value for Africa”, this landmark continental gathering has brought together over 2,000 accounting professionals, policy makers and business leaders from across Africa, Asia, Europe and America (as recognized by John Bugunya, the Vice President ICPAR during his opening remarks), to discuss the evolving role of finance in economic development.
The event also aims to examine the crucial role of finance and accountancy professionals in driving Africa’s progress, highlighted by Hon. Yousuf Murangwa, the Minister of Finance and Economic Planning in his inaugural address.
“This congress is happening at a timely moment, worth it. Across our continent, we’re navigating complaints, economic challenges, local disruptions and shifting financial landscapes, yet, we’re also experiencing incredible momentum in innovation, demographic opportunities and regional collaboration,” he explained.
“In this context, the role of accountancy cannot be overstated. Accountants, auditors and financial professionals carry a unique position to foresee Africa in generating, accessing and safeguarding funds,” Murangwa added. Stressing that, “this can be achieved through promoting transparency, accountability and sustainability in both private and public institutions.”
Echoing Murangwa’s sentiments, CPA Keto N. Kayemba, outgoing president PAFA (Pan African Federation of Accountants), invited participants to ‘reimagine their goal as accountants, not simply as technical professionals, but as catalysts for increasing sustainable development’.
She thus called them to action; “to work together to harness Africa’s youthful energy, growing digital capacity and demand for integrity to reimagine accountancy for the next generation,” stressing that, “Africa doesn’t need to replicate the world, but can influence the world.”
For decades, Africa’s economy has operated in fragmented markets, trading more with Eastern partners–Asia and Europe, than within itself. As a result, industrial growth and value chains have been weakened, leaving the continent vulnerable to external shots. This however is yet to change—thanks to ACFTA (African Continental Free Trade Area), stated Hon. Prudence Sebahizi, Rwanda’s Minister of Trade and Finance who referred to ACFTA as a ‘game changer’.
“By uniting 55 countries that are members of the African Union, to a market of 1.4 billion people, with a combined GDP of 3.4 trillion U.S dollars, we are looking at an opportunity to redefine Africa’s economic development. The AFCTA seeks to eliminate tariffs on 90% of goods, reduce non-tariff barriers, liberalize services, promote investment and intellectual property rights, among other things,” explained Sebahizi.
Eugene Torero, Regional Director, Horn of Africa and Rwanda, TradeMark Africa, however noted that for this to be effective, trade barriers such as regional visas need to be revised to ease the movement of people, goods and services.
“My daughter recently travelled from Belgium to Spain at a cost of only 55 U.S dollars. However, to travel from Uganda to Kenya or within the region, one is required to pay at least 500 U.S dollars and more, which is not fair,” he explained.
In retaliation, Emily Mburu-Ndoria, Director of Trade in Services, Investment, Intellectual Property Rights, and Digital Trade, echoed that U.S President Donald Trump has given Africa a ‘very good’ reason to implement the commitment of the AFCTA.
Mburu remarked that, “I think this is our opportunity as Africans to push the ideology of having one market, looking beyond the dependency on third parties.”
ACOA 2025 is centered around professional excellence–upholding standards, continuous learning and maintaining ethical practice to position African accountants at the forefront of global practices. In addition to technological advancement and sustainable impact.
The Congress follows Rwanda’s successful hosting of the 4th East African Congress of Accountants (EACOA) in 2024, further cementing the country as a premier destination for high-level professional gatherings.
Photos by Manzi Titus
