Abstract: This study examined the effect of Environmental, Social, and Governance (ESG) integration on the financial performance of CIMERWA Ltd in Rusizi, Rwanda. Specifically, the study assessed the effects of environmental, social, and governance practices on the company’s financial performance. A mixed-methods research design was employed, combining questionnaire surveys, semi-structured interviews, and document analysis. Data were collected from 138 employees, comprising 85 technical and operational staff who responded to questionnaires and 53 management and administrative staff who participated in interviews. Corporate documents, including annual reports and sustainability disclosures covering 2019–2024, were also reviewed. Quantitative data were analysed using descriptive statistics, correlation, and multiple regression analysis, while qualitative data were analysed thematically. The findings revealed that ESG integration had a significant positive effect on financial performance, with the three ESG dimensions jointly explaining 61.0% of the variation in financial performance (R² = 0.610, p < 0.001). Environmental practices demonstrated a significant positive relationship with financial performance (r = 0.648, p < 0.001), while social practices also showed a significant positive relationship (r = 0.648, p < 0.001). Governance practices exhibited the strongest positive association with financial performance (r = 0.701, p < 0.001). These findings indicate that effective ESG integration can contribute substantially to improved organizational financial performance and long-term sustainability. The study recommends strengthening ESG practices through effective environmental management, socially responsible initiatives, robust governance systems, supportive regulatory frameworks, and responsible investment strategies. The findings provide useful evidence for CIMERWA management, policymakers, regulators, investors, and researchers seeking to promote sustainable industrial performance in Rwanda.
Keywords: Environmental, Social, Governance, Financial Performance, CIMERWA, Rusizi.
Title: Effects of Environmental, Social, and Governance (ESG) Integration on Financial Performance in CIMERWA Limited, Rusizi, Rwanda
Author: Faustine Mukankiko, Dr. Athanas Osiemo Kengere
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
Vol. 14, Issue 1, April 2026 - September 2026
Page No: 828-839
Research Publish Journals
Website: www.researchpublish.com
Published Date: 29-September-2026
