TANGA CEMENT EMERGES THE OVERALL WINNER OF THE BEST PRESENTED FINANCIAL STATEMENT OF THE YEAR AWARDS
Revealing its commitment in putting quality above the rest, Tanga Cement Company Limited has once again emerged the overall winner of the best...
Revealing its commitment in putting quality above the rest, Tanga Cement Company Limited has once again emerged the overall winner of the best presented financial statement for the year 2016 at an award gala organized by the National Board of Accountants and Auditors (NBAA) in Dar es Salaam over the weekend.
The cement manufacturer also overturned other entities on the manufacturing category.
‘’As a leading producer of cement, our most top priority is on quality. We put quality above the rest...and these awards can bare witness," Tanga Cement Financial controller, Isaac Lupokela said.
He said that the company has been the winner for the second year consecutively. This creates the much-needed trust when the company wants to conduct business with local and international investors.
"The good thing is that the company has a very health relationship with the government of Tanzania. We will be hand in hand with President Magufuli to make sure that we realize our long awaited dream of making Tanzania an industrialized country."
On his side, the State's Accountant General, Francis Mwakapalila, who presided over the event as the chief guest said that heading towards industrialized nation, transparency is the best shot to take.
He urged companies to embrace transparency in their undertakings so as to create mutual benefit to investors and the government.
The award seeks to promote integrated reporting through enhancing accountability, transparency and integrity in compliance with appropriate financial reporting framework, according to the National Board of Accounts and Auditors (NBAA).
The awards are presented annually by the board to various public and private institutions and companies which have consistently maintained the required financial records.
The NBAA Executive Director, Pius Maneno said during a gala here on Saturday that increased participation by the public sector underpins the commitment to more open accountability in the use of public funds and offers the entities an opportunity to be assessed against global standards.
He congratulated the winners and urged other participants to use the feedback given by the board for future development.
This year about 56 entities submitted their financial report. “We should continue to encourage local government and make them see benefit of participating in the competition,” he said.