International Federation of Accountancy(IFAC) Connect: Global Event Series 2025
The State Department for Economic Planning Principal Secretary Dr. Bonface Makokha attended the opening of the International Federation of Accountants Connect Africa forum on August 19th, 2025, in Nairobi.
He attended the event on behalf of the National Treasury and Economic Planning Cabinet Secretary FCPA Honorable John Mbadi, EGH.
The theme of the event is ” Shaping the future of accountancy, governance and corporate success.”
International Federation of Accountancy (IFAC) is a yearly series of interactive events, built around global themes but customized to match the priorities and interests of each region and it’s local audience. In partnership with Pan African Federation of Accountants (PAFA) and the Institute of Certified Public Accountants of Kenya(ICPAK), IFAC wants to ensure the best practices support local solutions.
In his speech, the PS said that this event brings together brilliant minds to the land of endless opportunities, possibilities and vibrant economic ambition. It is a critical moment for our continent, as it positions itself as a strategic player in the global economy.
He commended IFAC for its continued role in strengthening professional accountancy organisations and spearheading adoption of global standards across Africa. Their support to Kenya drives professionalism and enhance public confidence in both public and private financial management systems.
The PS also acknowledged ICPAK for its consistency and leadership in propelling the accountancy profession to greater heights. So far, it has outstanding accomplishments such as championing the adoption of the IFRS sustainability disclosure standards in Kenya, contributing to the development of Kenya’s national tax policy and medium-term revenue strategy, launching the County governments public audit review report; Leading national conversations on AML/CFT reforms and professional ethics, and pioneering establishment of the PAFA sustainability centre of excellence.
“Sustainability is no longer a peripheral issue, it is the defining agenda of our time. The world is currently grappling with the effects of climate change, economic volatility, geopolitical uncertainty, and inequalities.These challenges call for coordinated global action anchored on sound reporting, strengthened governance and ethical leadership which are areas where professional accountants are pivotal actors”, he said.
Africa is making substantial strides but more needs to be done to strengthen capacity, institutional alignment, and regional cooperation if Africa is to fully harness the opportunities presented by the African Continental Free Trade Area (AfCFTA).
In his briefing, the PS also noted that the National Treasury, remains firmly focused on embedding sustainability into Kenya’s fiscal and development agenda. Efforts under Vision 2030, the Bottom-Up Economic Transformation Agenda, and the Sustainable Development Goals are all geared towards promoting inclusive growth, environmental stewardship, and social equity.
Dr. Makokha said that Kenya continues to mainstream green finance and climate responsive budgeting through initiatives such as climate budget tagging, climate finance tracking, and the green economy strategy. The government is aligning both public and private investment towards sustainable incomes.
“Government cannot do this alone. We need committed partnerships with the private sector, development partners, and most importantly professionals like yourselves to enhance transparency, strengthen accountability, and scale up investment in sustainable development”, said the PS.
He told the participants that they were the policymakers who must lead the charge. Their role in shaping credible sustainability reporting systems, upholding ethics, and building public trust is indispensable if Africa is to claim its place on the global sustainability map.
The PS further urged the participants to engage fully in the critical conversations on. sustainability standards adoption and assurance, attracting and retaining talent in the profession, public sector professionalization, anti-money laundering partnerships, and regulatory developments under AfCFTA.
