As the co-founder, director and CFO of Rocket Health since 2019, Fiona Nuwamanya has been instrumental in the journey to revolutionising healthcare access through telemedicine.
Fiona is not a novice in the healthcare space. She has previously worked at Medical Access, a company delivering life-saving drugs to patients across Uganda and also has extensive experience in consultancy work across over 20 countries, providing assurance services, project management, as well as supply chain and programme management support for clients like The Global Fund and GAVI. Her role as a director at TWAM Synergies Group, since 2014, further showcases her versatility in offering business support services for SMEs and organisations.
Fiona's academic credentials are as impressive as her professional achievements. She holds a B.Sc in business statistics from Makerere University, an MBA from Edinburgh Business School, and is currently enrolled for the ESG and sustainable financial strategy course at Saïd Business School, University of Oxford.
She took the time to speak to CFO East Africa about the highs and lows of her career journey and the lessons she has learnt along the way.
How did you end up as an accountant - did you have a different career in mind and how did you end up shifting?
I always wanted to be a doctor, but I didn’t bring my ‘A’ game to biology in high school. I did an undergraduate course in business statistics, joined EY and the rest, as they say, is history.
Is there any particular event that has happened that has shifted your perspective on life?
I spent some of my formative years in Nairobi. My father was working an expatriate job. I attended Makini School and was primed to join the very prestigious Kianda Girls’ School when my dad lost his job. I felt like my dreams had been shattered. From then on, my life took a different turn; I returned to join high school in Kampala, Uganda. Early on in life, I learnt that life is not predictable – today you have it, tomorrow you don’t. This belief and ingrained experience have shaped my approach to work and life.
What have been the highs and lows of your career?
I have had several moments of highs, including when I was crowned the ACCA Africa CFO of the Year 2023 at the Africa Members’ Conference in Johannesburg. This special award goes to a CFO who has demonstrated true leadership, outstanding performance, and excellence; I was truly honoured. Another exciting moment was when Rocket Health successfully closed its series A fundraising round in early 2022. This achievement was a true testament to all the hard work we, as founders, had put in to bring the company to an investor-ready state.
One of the lows of my career was a time at Rocket Health when it became apparent that the board of directors was considering my dismissal. It was a critical time for the company, and it needed a turnaround CFO; however, I was not evolving at the required pace. While the board's concerns were valid, gaining turnaround CFO experience isn't something that happens overnight.
As you can imagine, it is extremely difficult to work in such an environment. Despite the difficult circumstances, I was determined to understand their concerns, collaborate more closely with them, and obtain their support to address the challenges we were facing.
Together with the board, the strategy was refreshed to steer the business through significant downsizing, restructuring and pivoting. I gained invaluable experience during this failing-forward season, a privilege not many CFOs enjoy in their careers.
How many people do you manage as CFO and what is your management style?
At the height of Rocket Health, my team had 20 staff of different calibres, including accountants, analysts, data entrants, cashiers and a small team in administration. I am more of a hands-off, strategic-steer manager, really more results-based. I prefer to invest a lot of time in mentoring the team and then let everyone do their thing. I push my team members to discover things by themselves and push them to learn without having to spoon-feed. Call me only if you need to consult – otherwise, let’s all work in peace and silence.
How do you define success both professionally and personally?
The Dalai Lama said that people take different roads seeking fulfillment and happiness, and just because they are not on your road doesn’t mean they are lost. Success is different for each of us, and my definition of success has always centred around the state of my family. Family is the centre of success, both professionally and personally. Never lose touch with the people you call family (even at work), because these are the ones who will be there for you to the end. Family consists of people with the same values, but also those who care about each other. Their wellbeing and achievements are my success.
What do you do outside of work?
I like to read a lot. Until this year, I used to attend a book club every Saturday morning. I am also a lover of the calmness and solitude of nature - I could live in a forest. I love to travel, experience new cultures, and I absolutely love to try new teas. My current favourite is the pink tea I drank at a street market in a little town in Nepal called Pokhara; the town lies between the Himalayan ranges.
Is there a book or a film that you have watched that was life-changing for you - tell us about it.
Lean In by Sheryl Sandberg, written while she was the COO of Facebook, significantly influenced some of my major career decisions. Despite advancements in workplace equality, women still face setbacks outside work that hinder their progress, requiring deep passion and resolve to overcome.
Another major influence is the song The Power of the Dream by Celine Dion, performed at the 1996 Summer Olympics. The lyrics, especially Your mind will take you far, The rest is just pure heart, You'll find your fate is all your own creation, resonate with me deeply, awakening resolve and resilience.
Tell us something surprising about you that we would never guess.
If we were to be given a super power, I would choose to be able to read people’s minds.
What advice would you have for your younger self and what would you do differently if you were to go back 15-20 years?
Life doesn’t need to be so serious – live a little.
