Strategy took centre stage at the 2025 CFO East Africa Kick-off Summit, where leading finance executives traded insights on ways to embed agility into corporate planning and leverage their skills to shape the progress of the country.
Held at the Nairobi Serena Hotel on 6 March, the event provided a forum for finance executives to share their aspirations for the months ahead and reflect on the fast-changing demands of the present economic landscape.
A spirited panel discussion set the tone for the evening, as speakers delved into their own experiences in crafting and executing strategic plans. Kenya’s Central Bank finance director Caroline Mackola highlighted that consumer insights now play a crucial role in driving strategy.
“We are seeing situations where, as an organisation, you have to be agile. And because of that, there's almost a given implication that you must be able to synthesise all this data that is coming in and to be able to make decisions at a very fast rate,” she said.
While echoing this sentiment, Kenya Airways chief strategy and innovation officer Hellen Mathuka touched on the proliferation of AI, encouraging finance executives to take advantage of its predictive capabilities.
“We rely heavily on market studies, data analysis, and competition insights. For example, we analyse credit card spending to understand consumer behaviour and travel patterns. Big data is crucial, and we are exploring how to use AI to determine our next moves,” she said.
Beyond the numbers
The panel also featured Unga Group acting managing director and CFO James Nyutu, who urged CFOs to transcend the traditional duties of reporting numbers and managing risks, challenging them to focus on growing the organisation and enhancing shareholder value.
“In the current environment, we are revising our strategy more frequently, every three months, and involving key stakeholders. If the culture of the organisation is not aligned with the strategy, it will not work. We are focusing on our core values and ensuring that our policies support our strategy,” he said.
Speakers also reflected on their personal life strategies, with Beiersdorf finance and IT director for Central, East and West Africa Funlola Pearce sharing that her immediate priority was nurturing talent within her team.
“No matter what strategy you craft, if you don't have the buy-in of the people you work with, it will be a struggle. So capability building, giving the right feedback, giving exposure opportunities to the team, preparing them for those exposure opportunities,and creating fun activities. It shows that I care, but it also allows them to build that trust, so that when I say, ‘Look, guys, we need to do this’, I get the buy-in and we can run with it,” she said.
Taking stock of Exim Bank Tanzania’s trajectory, founder Hanif Jaffer attributed the bank’s pioneering introduction of credit cards in Tanzania decades ago to its decision to bring in experts to craft its strategy at the beginning. He also noted the importance of continuous learning, which he hoped to pursue in the year ahead.
“I come here not only to speak, but also to learn. And for me, that is so important. I try as much as I can to go online and do a lot of training online. It helps me a lot. I think that it's so important,” he said.
Driving longevity
The close of the panel discussion gave way to the principal partner address, during which EY’s Robert Nyamu emphasised the need for agility in light of recent changes in US trade policy. He advised CFOs to factor geopolitics into their financial strategies to turn disruption into an advantage.
“The role of the CFO is constantly shifting. It now includes strategy, value and innovation. If your strategy is not forcing you to move outside your comfort zone, then you must rethink it,” he said.
The standout moment of the evening was the keynote address by Stanbic Bank Kenya and Sudan’s Joshua Oigara, where the CFO-turned-CEO invited attendees to consider how they could leverage their skills and influence to steer the course of the nation.
“Shifting the destiny of our nation falls into the hands of individuals in the private sector. It doesn’t matter the economics of the environment. Ultimately, what you do is to continue shifting that landscape and being a voice for progress, asking, ’How do I become a real catalyst that can push any of those changes forward?’” he said.
Drawing from his own journey, Joshua highlighted the critical role of the CFO in driving longevity, stressing the importance of persuasive storytelling and adapting to dynamic environments.
“Our businesses and organisations must live much longer than us and hand over the burden to the next generation. You cannot be run by shareholders with short-term ambitions when you are a long-term business,” he added.
To whom much is given
Joshua’s remarks provided the fuel for one of two subsequent roundtable discussions, with CFOs debating how they could make meaningful contributions to matters of national interest. The sessions shone a light on the increasing clamour for accountability in the management of public resources and offered a safe space for the executives to brainstorm ways to contribute to their communities.
“When there are problems with how laws are passed, lawyers speak up. When there are taxation issues, tax experts contribute. What happens with finance? We have to do more because of the skill we have and the power we wield,” one executive said.
While some supported a bottom-up approach that favoured grassroots leaders as the first port of call, others advocated for a concurrent top-down approach that engaged leaders within CFOs’ spheres of influence.
“Leadership forums and professional bodies can help drive influence at policy level. We can still do a bottom-up approach, but national forums should exist to drive top-down impact. We should leverage such bodies to make our voices heard,” an attendee said.
As the evening wound down, attendees mingled over drinks and hors d’oeuvres under the warm amber lights of the Serena’s Allamanda Room, reflecting on the night’s discussions.
The event was supported by principal partners EY and Stanbic Bank Kenya and associate partners Adili Group, Boya, GardaWorld Security, RSM Eastern Africa, and Yellow Card.
