For most African companies, sustainability reporting has been voluntary, inconsistent and aimed at a narrow audience. That is about to change. The International Sustainability Standards Board’s two standards, IFRS S1 on general sustainability-related disclosures and IFRS S2 on climate, are moving from adoption announcements to reporting deadlines across the continent.
Where the deadlines stand
- Ghana: The Institute of Chartered Accountants Ghana has published a roadmap that makes compliance mandatory from January 2027 for significant public interest entities, including insurers.
- Kenya: The Institute of Certified Public Accountants of Kenya published an adoption roadmap in 2024. The IFRS Foundation lists Kenya, Ghana and Rwanda among jurisdictions with first reporting periods expected in 2027. Some Kenyan companies, such as KCB Group, already report with reference to IFRS S1 and S2.
- Nigeria: The first African country to adopt the standards, Nigeria is phasing them in, with full mandatory implementation for non-government entities from January 2028.
- Uganda announced adoption in September 2024, and Tanzania, Zambia and Ethiopia are among other African jurisdictions moving toward the standards.
Globally, the IFRS Foundation says more than 40 jurisdictions have adopted or are moving to use the standards.
What the standards require
IFRS S1 and S2 ask companies to disclose sustainability-related risks and opportunities that could affect their prospects, in the same report and on the same timetable as their financial statements. That covers governance, strategy, risk management, and metrics and targets. For climate, it includes greenhouse gas emissions across Scopes 1, 2 and 3, and an assessment of resilience using scenario analysis. The ISSB published educational material on climate resilience and scenario analysis in March 2026 and made targeted amendments to IFRS S2 in December 2025.
What boards should do now
- Assign oversight. Decide which board committee owns sustainability disclosure and make sure it has the skills to challenge management.
- Run a gap assessment against both standards, not just climate.
- Fix the data. Emissions inventories, supplier data and risk registers need the same controls as financial data.
- Connect to strategy. Disclosures must show how risks affect cash flows, financing and plans.
- Prepare for assurance. Auditors will increasingly be asked to review these disclosures.
- Budget for it. Systems, people and advisers cost money, and 2027 reports need 2026 data.
Companies that treat ISSB reporting as a compliance exercise will produce long documents. Those that use it to understand their risks will produce better decisions.
Sources: IFRS Foundation: ISSB update, April 2026 · Milliman: Climate-related risk and sustainability disclosures in Africa · Africa Sustainability Matters: ISSB expands in Africa · The Star: KCB Group green loans and IFRS S1/S2 reporting
