As the chief finance officer (CFO) of CIB Kenya since January 2021, Hesham Abdelhay has transformed the bank’s financial landscape. With a robust background in finance and strategic planning, Hesham’s journey from Cairo to Nairobi is marked by significant achievements and a relentless pursuit of excellence.
A significant part of his career stems from his native Cairo in Egypt where he spent over 14 years with CIB Egypt. Rising through the ranks, he held several key positions, including regional expansion manager, capital management manager, and senior accountant. His tenure at CIB Egypt was marked by significant contributions to the bank's regional expansion strategies, capital management frameworks and regulatory reporting standards. His comprehensive understanding of International Financial Reporting Standards (IFRS), corporate finance, and strategic planning has been pivotal in enhancing the bank's financial health and compliance.
In addition to his professional accomplishments, Hesham is dedicated to continuous learning and education. He recently obtained an executive MBA from London Business School, which he adds to his collection of qualifications comprising a M.Sc in professional accountancy from the University of London, and an MBA in financial management from the Arab Academy for Management, Banking, and Financial Sciences. Moreover, as a certified chartered accountant (ACCA), Hesham has a deep knowledge of sustainability in finance, having completed a certificate in sustainability for finance. His commitment to education extends to teaching; he has served as a part-time ACCA tutor, sharing his knowledge and experience with future financial leaders.
“Starting to study for the ACCA qualification was a pivotal moment that transformed my perspective. The programme's rigour deepened my understanding of accounting while instilling a profound sense of discipline and commitment. It emphasised the importance of continuous learning and professional development, reinforcing my career dedication. This experience highlighted the critical role of a solid accounting foundation in making strategic business decisions and achieving financial success,” Hesham explains.
Asked about working in the Kenyan market, Hesham states that he has found it transformative.
“My contribution has focused on financial restructuring and operational efficiency with the goal of turning around performance by streamlining processes, cutting unnecessary costs, and implementing robust financial controls. This involved conducting a comprehensive financial audit to identify areas of inefficiency, introducing new financial management reporting to enhance accuracy and transparency, and implementing a strategic plan to diversify revenue streams and reduce dependency on volatile market segments,” he says.
When he was posted to Kenya, Hesham was both excited and apprehensive. He expected to face challenges due to economic fluctuations and regulatory differences. The experience has been enriching as it broadened his cultural perspectives, enhanced his adaptability, and deepened his understanding of emerging markets.
“When it comes to travel, Egypt, my mother country, is an amazing place to visit with its ancient history. I can explore Cairo and Giza, as well as its lovely beaches in Hurghada and Sharm El-Sheikh. Additionally, Kenya is a wonderful destination; the Maasai Mara and Mombasa offer breathtaking landscapes and diverse wildlife. Other places I have enjoyed visiting include Singapore with its blend of cultures and focus on sustainability. Another favourite destination is Italy which captivates with its rich history and art in Rome, Florence, and Venice, providing a diverse cultural experience,” he says.
Resilient and resourceful
Besides travel, Hesham reads broadly and not just the academic material that has led to his colourful CV. One of his favourite books is The Art of War by Sun Tzu.
“The book provides timeless strategies for warfare and leadership, emphasising strategy planning and adaptability. Another good read is SPQR: A History of Ancient Rome by Mary Beard, which offers deep historical insights with modern applications. Finally The Rise and Fall of Ancient Egypt by Toby Wilkinson details Egyptian civilisation's complexities, emphasising centralised leadership and strategic resource management. Each of these books offers valuable lessons in strategic thinking and governance,’ Hesham explains.
Hesham’s leadership and strategic thinking has been shaped by lessons in his career. Adapting to economic downturns has taught him to remain resilient and resourceful while having to build diverse teams has led to an embrace of open communication, which is critical for innovation and problem-solving. Hesham is also a strategic planner who focuses on long-term goals while remaining flexible in his approach.
“While my job as a CFO requires me to deal extensively with numbers, I find immense joy in dealing with people. In fact, I have a unique talent for connecting with individuals and understanding their perspectives. This skill has been invaluable in my role, as it helps me build strong, collaborative teams and foster an inclusive work environment,” he says.
Professionally, Hesham defines success as the ability to lead significant financial turnarounds, implement sustainable finance practices, and enhance operational efficiency. On a personal level, success for Hesham means maintaining a healthy work-life balance, nurturing relationships with family and friends, and pursuing passions inside and outside of work. For him, it’s about contributing meaningfully to both professional and personal spheres.
“I would advise my younger self to embrace change and uncertainty with confidence. It's important to take calculated risks and not fear failure, as each experience contributes to growth and learning. If I could go back 15-20 years, I would focus more on networking and building relationships earlier in my career. These connections are invaluable for professional development and opportunities. Additionally, I would prioritise work-life balance from the start, understanding that personal well-being is crucial for long-term success,” Hesham says in conclusion.
