{"id":9113,"date":"2025-05-07T04:50:59","date_gmt":"2025-05-07T04:50:59","guid":{"rendered":"https:\/\/sensmagazine.com\/rw\/?p=9113"},"modified":"2025-05-08T04:46:49","modified_gmt":"2025-05-08T04:46:49","slug":"creating-value-for-africa-the-africa-congress-of-accountants-kicks-off-in-kigali","status":"publish","type":"post","link":"https:\/\/sensmagazine.com\/rw\/creating-value-for-africa-the-africa-congress-of-accountants-kicks-off-in-kigali\/","title":{"rendered":"\u2018Creating value for Africa\u2019: The Africa Congress of Accountants Kicks off in Kigali"},"content":{"rendered":"\n

\u201cIf you can\u2019t account, you don\u2019t count,\u201d 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).<\/p>\n\n\n\n

Happening at Kigali Convention Center under the theme: \u201cCreating Value for Africa\u201d, 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.<\/p>\n\n\n\n

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Photo by Manzi Titus<\/figcaption><\/figure>\n<\/figure>\n\n\n\n

The event also aims to examine the crucial role of finance and accountancy professionals in driving Africa\u2019s progress, highlighted by Hon. Yousuf Murangwa, the Minister of Finance and Economic Planning in his inaugural address. <\/p>\n\n\n\n

\u201cThis congress is happening at a timely moment, worth it. Across our continent, we\u2019re navigating complaints, economic challenges, local disruptions and shifting financial landscapes, yet, we\u2019re also experiencing incredible momentum in innovation, demographic opportunities and regional collaboration,\u201d he explained. <\/p>\n\n\n\n

\u201cIn 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,\u201d Murangwa added. Stressing that, \u201cthis can be achieved through promoting transparency, accountability and sustainability in both private and public institutions.\u201d<\/p>\n\n\n\n

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Photo by Manzi Titus<\/figcaption><\/figure>\n<\/figure>\n\n\n\n

Echoing Murangwa\u2019s sentiments, CPA Keto N. Kayemba, outgoing president PAFA (Pan African Federation of Accountants), invited participants to \u2018reimagine their goal as accountants, not simply as technical professionals, but as catalysts for increasing sustainable development\u2019.<\/p>\n\n\n\n

She thus called them to action; \u201cto work together to harness Africa\u2019s youthful energy, growing digital capacity and demand for integrity to reimagine accountancy for the next generation,\u201d stressing that, \u201cAfrica doesn\u2019t need to replicate the world, but can influence the world.\u201d<\/p>\n\n\n\n

For decades, Africa\u2019s economy has operated in fragmented markets, trading more with Eastern partners\u2013Asia 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\u2014thanks to ACFTA (African Continental Free Trade Area), stated Hon. Prudence Sebahizi, Rwanda\u2019s Minister of Trade and Finance who referred to ACFTA as a \u2018game changer\u2019. <\/p>\n\n\n\n

\u201cBy 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,\u201d explained Sebahizi.<\/p>\n\n\n\n

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Photo by Manzi Titus<\/figcaption><\/figure>\n<\/figure>\n\n\n\n

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.<\/p>\n\n\n\n

\u201cMy 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,\u201d he explained.<\/p>\n\n\n\n

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 \u2018very good\u2019 reason to implement the commitment of the AFCTA.<\/p>\n\n\n\n

Mburu remarked that, \u201cI think this is our opportunity as Africans to push the ideology of having one market, looking beyond the dependency on third parties.\u201d <\/p>\n\n\n\n

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Photo by Manzi Titus<\/figcaption><\/figure>\n<\/figure>\n\n\n\n

ACOA 2025 is centered around professional excellence\u2013upholding 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.<\/p>\n\n\n\n

The Congress follows Rwanda\u2019s 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. <\/p>\n\n\n\n

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Photo by Manzi Titus<\/figcaption><\/figure>\n<\/figure>\n\n\n\n

Photos by Manzi Titus<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cIf you can\u2019t account, you don\u2019t count,\u201d 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: \u201cCreating Value for Africa\u201d, this landmark<\/p>\n","protected":false},"author":9,"featured_media":9132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89],"tags":[163,156],"ppma_author":[120],"class_list":{"0":"post-9113","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-just-so-you-know","9":"tag-story-of-the-day"},"yoast_head":"\n\u2018Creating value for Africa\u2019: The Africa Congress of Accountants Kicks off in Kigali - SENS Magazine Rwanda<\/title>\n<meta name=\"description\" content=\"\u201cIf you can\u2019t account, you don\u2019t count,\u201d remarked Obadiah. R. 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