When people think of finance, they often imagine accountants buried in spreadsheets, closing books at the end of each month, and ensuring compliance with regulatory standards. While these activities remain core, the scope of the finance function has expanded dramatically.
Today, finance is about much more than historical reporting. It is about shaping the future - leveraging data, technology, and sustainability to create value for all stakeholders. The modern CFO is no longer just a steward of financial performance but a strategic thinker and architect of organisational resilience and growth.
I have embraced this expanded mandate by reimagining the finance function. My vision is simple yet bold: to build a high-performance team that goes beyond numbers by integrating non-traditional roles, new technologies and sustainability into the heart of finance.
The result is a finance department unlike most: one where accountants work side-by-side with clinical and medical specialists, finance and risk analysts, business intelligence experts, data scientists, claims specialists, procurement professionals and sustainability practitioners. This multidisciplinary blend has enabled us to respond quickly to emerging challenges, unlock new opportunities and deliver value that extends far beyond financial reporting.
The insurance sector, like many others, faces growing complexity. Customer expectations are rising. Regulators are demanding more transparency. Employees want fair compensation and better working conditions, while shareholders demand stronger returns. Technology is reshaping how services are delivered. At the same time, investors and stakeholders increasingly expect companies to demonstrate not only profitability, but also purpose and accountability.
Traditional finance structures were not designed to address these realities. A department focused solely on accounting and reporting would not have the tools or people to respond effectively. I asked myself: how can we make finance a partner in solving business challenges, not just reporting on them? The answer was clear - build a multidisciplinary finance team that combines traditional expertise with new specialisations.
Building a multidisciplinary finance function
Finance teams, like ours, now include data scientists and business intelligence analysts with diverse academic backgrounds in mathematical finance, BI and quantitative analytics. They provide forward-looking insights that enable leadership to make predictive, not just historical, decisions. This has been a game-changer, contributing to a successful group restructure, unlocking capital for the acquisition of AAR Uganda, and supporting our application for a general insurance licence in that market. We continue to explore other investment and expansion opportunities.
We embedded procurement and facilities management within finance, creating a single point of accountability for efficiency, cost control and service quality as the branch network expanded. This integration enabled the launch of a paperless, ESG-compliant branch model that is now being replicated across our 12 branches, each operating as a sustainable profit centre.
Embedding sustainability into finance
One of the most profound shifts in the CFO’s mandate is embedding ESG considerations into financial strategy. Stakeholders today are asking: How sustainable is the business model? How is the organisation contributing to society? How transparent is its reporting? Finance is uniquely positioned to lead this conversation.
As custodians of both financial and non-financial data, we can provide the transparency and accountability that stakeholders demand. To institutionalise this, we created the role of sustainability and reporting accountant, anchored on four pillars:
- Business insights: Our flagship initiative, A Tree, A Life, ensures that for every insurance policy issued, one tree is planted. Over 40,000 trees have been planted across Kenya with a survival rate exceeding 90 percent, creating both financial and societal value.
- Transactional efficiency: Through digitalisation, we optimise processes, reduce resource use and lower our carbon footprint.
- Compliance and control: Delivering transparent ESG reporting aligned with global best practices. In April 2025, we published our inaugural integrated report, including sustainability disclosures.
- Stakeholder rights: Cloud-based systems now allow flexible working, supported by performance-based rewards. Customers benefit from seamless digital services, while shareholders’ rights are safeguarded through consistent dividend payouts.
We are also evaluating investment cases through both financial and non-financial lenses and sourcing funding for green initiatives. Our partnership with FSD Africa in implementing new ESG reporting standards (S1 and S2) further underscores our commitment.
Lessons in building a high-performance finance team
Reflecting on our journey, several lessons stand out for CFOs and business leaders:
- Expand the talent pool: Go beyond accountants. Cross-disciplinary teams bring richer insights.
- Leverage technology: AI, robotics and analytics are essential for efficiency and foresight.
- Make ESG strategic: Evaluate every financial decision through a sustainability lens.
- Shape culture, not just processes: A high-performance team thrives on shared purpose and stakeholder value.
Finance is no longer about reporting the past - it is about shaping the future, balancing profit with purpose, and growth with sustainability. By integrating professionals from diverse backgrounds and embedding sustainability at the heart of decision-making, we have built a high-performing, forward-looking team that delivers value far beyond the balance sheet.
The CFO of the future is not just a financial steward but a builder of resilience, trust and sustainable growth.
