Nairobi: The government has committed to deepening sustainability reforms in Kenya’s fiscal and development agenda, anchoring them on Vision 2030 and the country’s broader economic transformation framework. The pledge was delivered during the official opening of The International Federation of Accountants (IFAC) Connect: Africa 2025 in Nairobi, with the government emphasizing that sustainability, accountability, and governance remain central pillars of Kenya’s long-term growth strategy.
According to Kenya News Agency, State Department for Economic Planning Principal Secretary (PS) Dr. Bonface Makokha stated that Kenya is aligning its regulatory environment with international standards to attract investment and expand capital markets. ‘We are mainstreaming green finance and climate-responsive budgeting within our public finance management systems,’ he said. The PS explained that these reforms are aimed at positioning Kenya as a competitive and transparent investment hub.
Makokha pointed out that the government has introduced climate budget tracking, climate finance strategies, and a green economy framework as part of its broader Vision 2030 and Economic Transformation Agenda. According to the PS, these measures are designed to create a resilient fiscal system that is responsive to climate change, environmental stewardship, and sustainable growth. He noted that the Treasury is working to strengthen oversight institutions, improve accountability, and ensure the public sector produces timely, credible, and decision-useful financial information.
‘We need committed partnerships with the private sector, development partners, and professionals like yourselves to enhance transparency, strengthen governance, and scale up investment in sustainable development,’ he emphasized. The PS further highlighted the National Treasury’s close collaboration with the Institute of Certified Public Accountants of Kenya (ICPAK), regulators, and other stakeholders to align Kenya’s sustainability reporting with international best practices. Makokha said this collaboration ensures that disclosures are transparent, comparable, and meet investor expectations.
He added that Kenya remains determined to transition to accrual-based International Public Sector Accounting Standards (IPSAS), which will enhance public sector accountability and strengthen fiscal governance. ‘You are the custodians of financial integrity, and your leadership in shaping credible reporting systems, upholding ethics, and building public trust is indispensable if Africa is to claim its place on the global sustainability map,’ Makokha said.
The PS stressed that sustainability is no longer a peripheral issue but the defining agenda of the time. He noted that challenges such as climate change, economic volatility, and governance gaps demand coordinated responses where accountants, regulators, and policymakers play a central role. In her remarks, ICPAK Chief Executive Officer, CPA Dr. Grace Kamau, emphasized the growing importance of global sustainability standards in financial reporting.
She observed that 36 jurisdictions representing more than half of global GDP had adopted or aligned with IFRS Sustainability Disclosure Standards by mid-2025. ‘With a global baseline for disclosures, an international assurance standard, and a global benchmark for ethics, we can deliver governance that unlocks corporate success and the trust that attracts capital,’ she said. Dr. Kamau added that IFRS S1 and S2, which took effect for reporting periods beginning January 2024, had already moved sustainability information from the margins to the center of financial reporting.
She explained that the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) had also strengthened assurance and ethics frameworks, which are critical to building trust in sustainability reporting. ICPAK Chairperson, CPA Prof. Elizabeth Kalunda, lauded Kenya’s progress in embedding governance reforms and sustainability practices.
She pointed to the rollout of a national sustainability reporting roadmap, piloting of sector-specific templates, and reinforcement of corporate governance codes as examples of Kenya’s leadership in this area. ‘This forum is more than a conference, it is a platform for transformation, bridging the gap between global standards and local realities,’ she remarked. Prof. Kalunda also stressed the need to prepare the next generation of accountants for emerging challenges, citing the importance of digital skills, sustainability literacy, and ethical leadership.
She encouraged delegates to use the Nairobi forum to forge partnerships that would accelerate Africa’s contribution to global accountancy reforms. PAFA Vice President, Ms. Prem Govender, underscored Africa’s responsibility to actively shape international standards rather than merely adopt them. ‘The accountancy profession must not only keep pace but must lead boldly, creating systems that foster trust, inclusivity, and sustainable growth across borders,’ she said.
She urged delegates to ensure that Africa’s unique realities ranging from climate vulnerabilities to the opportunities presented by the African Continental Free Trade Area are fully reflected in global frameworks. The Nairobi forum will address sustainability reporting, investor expectations, ethics, anti-money laundering (AML), and countering the financing of terrorism (CFT) frameworks, and public sector accountability.
Technical clinics and practitioner roundtables scheduled for later this week will refine discussions into practical action plans for governments, firms, and regulators. The two-day conference, themed ‘Shaping the Future of Accountancy, Governance and Corporate Success,’ is co-hosted by ICPAK, the International Federation of Accountants (IFAC), and the Pan-African Federation of Accountants (PAFA) at the Radisson Blu Hotel, Nairobi.