Swissport Tanzania scoops financial reporting award

Swissport Tanzania was last weekend declared the country winner of the 11th edition of the Financial Reporting (FiRe) Award at an award ceremony in the Kenyan capital, Nairobi.
 
The ground handler at the Julius Nyerere International Airport and Kilimanjaro International airport beat CRDB Bank and the National Microfinance Bank that had submitted entries to the competition that had this year attracted 93 entries, the highest since its inception in 2002.

Swissport Tanzania, in a statement issued in Dar es Salaam yesterday, quoted its Contracts and Marketing Manager James Mhagama as acknowledging business from Kenya Airways, one of Swissport’s long-term customers. 

FiRe award is an initiative by Nairobi Securities Exchange, Capital Markets Authority and Institute of Certified Public Accountants of Kenya to recognise excellence in financial reporting among corporate bodies in the East African Community.

The award seeks to promote and institutionalise transparency, integrity and accountability in the corporate reporting process. Participation in the award is voluntary and free of any charge. 

The organisations wishing to participate submit six copies of their latest annual reports incorporating the financial statements.

During the 2012 award NIC Bank of Kenya scooped the overall award. Swissport Tanzania’s award comes hardly four months after the company which also trades on the Dar es Salaam Stock Exchange (DSE) announced half year pre-tax profit of 4.3bn/-, attributable to increased number of executive jets, freighters and imported cargoes as well as enhanced operational efficiency.

The number of flights handled increased by eight per cent while cargo volume increased by 16 per cent compared to the same period last year, the company announced last July. 

It announced plans to invest over nine million US dollars (about 15bn/-) in the construction of a new import warehouse to cater for the increase in cargo volume.
Source: The Daily News, http://www.dailynews.co.tz in Dar es Salaam
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