How OTR’s consistent excellence in financial reporting is shaping public sector governance

DAR ES SALAAM: OVER the past two years, the Office of the Treasury Registrar (OTR) has emerged as one of Tanzania’s most consistent performers in public financial reporting, an achievement underscored by two back-to-back national recognitions from the National Board of Accountants and Auditors (NBAA).

In November 2024, OTR secured second place in the 2023 Excellence Award for Financial Reporting in the Ministries and Other Government Departments category.

One year later, on December 4, 2025, the Office once again claimed second position, this time in the Best Financial Reporting Awards 2024 (Independent Government Departments Group).

The award was presented by the Deputy Minister for Finance, Mr Laurent Luswetula, during a ceremony in Dar es Salaam recognising institutions that uphold high standards, professionalism and transparency in the preparation of annual financial statements.

Speaking during the award ceremony, Mr Luswetula applauded all 86 participating institutions, with special recognition to the winners.

He emphasised the critical importance of proper and reliable financial reporting, noting that well-prepared financial statements are essential for strengthening accountability within both public and private sector organisations.

He further stressed that adherence to international standards not only enhances credibility but also builds public trust and supports national economic development.

In this context, OTR’s consecutive recognitions represent more than just awards, they embody a deep-rooted institutional culture of transparency, professionalism and accountability steadily taking hold across the public sector.

Leadership matters

Across both awards, one message stands out clearly: Strong leadership matters.

At the 2024 ceremony, the Director of Performance Management, Monitoring and Evaluation – Commercial Entities, Ms Lightness Mauki, underscored the importance of leadership, saying: “This achievement would not have been possible without the invaluable guidance of the Treasury Registrar, Mr Nehemiah Mchechu.”

She stressed that effective leadership plays a decisive role in cultivating a culture of excellence in financial reporting. In 2025, the message was echoed by the Director of Finance and Accounting, Mr Hassan Mohamed.

After receiving the award, accompanied by Assistant Director of Finance and Accounting, Ms Naomi Lucas, he said: “We have proudly secured second place in the Independent Government Departments category.”

He went on to add: “This achievement is a testament to our collective effort, dedication and commitment to excellence.

“This would not have been possible without the dedication of our staff and the strong leadership of the Treasury Registrar, Mr Nehemiah Mchechu.”

Teamwork drives success

The two recognitions also highlight OTR’s strong culture of teamwork.

In 2024, Ms Mauki emphasised unity within the institution, explaining that the win stemmed from the combined effort of the Treasury Registrar, the Audit Committee, management and staff.

As she expressed: “This has been the result of collective effort. We worked together and that made the difference.”

One year later, Mr Mohamed reinforced this message by recognising the dedication of his colleagues.

He said: “The success was the result of meticulous preparation of financial statements in full compliance with guidelines and regulations.”

He went on to add: “It would not have been possible without the commitment of our staff and the constant support from the Executive Committee.”

He also noted that the Finance and Accounting Directorate has continued to strengthen management systems, enhance operational efficiency and position OTR as a role model in financial reporting, an achievement that builds confidence among the government, investors, organisations and institutions under OTR’s supervision.

Raising standards The awards illustrate OTR’s ability to consistently meet the country’s highest standards in financial reporting.

By excelling in consecutive years, the Office has demonstrated its commitment to maintaining rigorous reporting standards, strengthening internal systems and fostering a culture rooted in transparency and accountability.

Mr Mohamed captured this commitment clearly, saying: “As supervisors of government organisations and institutions, the interpretation of this award is that we lead by example, we follow guidelines and principles in preparing accounts.”

He further noted that the win reflects important qualities, including transparency and accountability, professionalism in the preparation of financial statements and improved operational efficiency within OTR.

Setting the benchmark

OTR’s repeated success sends a strong signal to other public institutions striving to raise their governance standards.

The institution’s performance shows that leadership, teamwork and discipline in financial management produce results that can be measured, recognised and replicated.

Treasury Registrar, Mr Mchechu, emphasised the importance of sustained improvement, saying: “Good financial management practices encourage institutions to maintain accurate financial records. Our goal as the Office of the Treasury Registrar is to continue improving and achieving even more.”

His reflection underscores OTR’s understanding that excellence is not an endpoint but a continuous journey.

The 2024 award also noted that the victory serves as a catalyst for the entire Finance and Accounting team, and for OTR’s leadership under Mr Mchechu, to continue increasing innovation and strengthening adherence to international standards in the management of public resources.

Looking ahead

Even as it celebrates these milestones, OTR remains futureoriented.

Mr Mchechu expressed the need to continue modernising internal systems and reinforcing accountability across all levels of the Office.

His sentiments reflect the broader responsibility OTR holds within Tanzania’s governance landscape: To champion transparency, strengthen public trust and guide state-owned entities with integrity and professionalism.

In the 2024 award cycle, first place in the Independent Government Departments group went to the Drug Control and Anti-Narcotics Authority, underscoring the competitiveness of the category in which OTR achieved recognition.

OTR’s achievements in the NBAA financial reporting awards stand not only as recognition of past excellence but also as a stepping stone toward even greater advancements in public financial management.

NBAA objectives Beyond OTR’s success, it is important to recognise the purpose and reach of the NBAA awards themselves.

According to NBAA Executive Director, Mr Pius Maneno, the primary objective of the NBAA Awards, specifically the “Best Presented Financial Statements Awards,” is to recognise, encourage and promote best practices in the preparation and presentation of financial statements in Tanzania.

The awards aim to promote compliance with both Local and International Accounting and Auditing Standards, enhance transparency and accountability, foster good financial governance, encourage full disclosure and recognise excellence in financial reporting.

They also drive the overall goal of developing, regulating and promoting the accountancy profession in Tanzania to the highest standards.

Eligible entities include a broad range of institutions, from banks, insurance companies and manufacturing firms to government ministries, local authorities, NGOs and service industries such as utilities and educational institutions.

To participate, entities must be legally registered in Tanzania, comply with local and international accounting standards, employ professional members registered by NBAA and have audited financial statements with unqualified opinions covering the relevant reporting period.

By understanding these objectives and eligibility criteria, it becomes clear that OTR’s repeated recognition is not just a personal or institutional achievement, it reflects a broader commitment to upholding Tanzania’s highest standards in financial reporting and public sector governance.