The CFO of Tanzania’s number one bank by profit, NMB Bank, Juma Kimori is set to deliver a speech at the CFO of the Future Summit to be held in Nairobi on the evening of 15 August 2024. The event is exclusive to invited CFOs and representatives of the partner entities EY, Adili Group, ALN and Payspace.
Drawing on lessons learnt within the finance team of NMB Bank, Juma will speak on the role of the CFO which has undergone significant transformation over the past few decades. Behind us are the days when the CFO's primary focus was merely on custodianship, financial reporting and compliance. They are pivotal business leaders in driving the strategic direction of businesses and this evolution is a consequence of the growing complexity of the global environment.
Juma’s speech will elaborate on the fact that the expectations of the modern CFO have expanded dramatically. They are no longer confined to the back office and are expected to be forward-thinking visionaries, who not only manage financial performance but also drive innovation.
Juma will also reflect on the role played as CFO in driving NMB to number one in profitability in the country with results that can be deemed competitive across the East African region.
‘I think we have made very good progress because if you look at the Tanzanian market for the last five years, people were saying that one bank in Kenya was making more money than all Tanzanian banks combined. We have turned this around and NMB is now leading in both profitability and cost efficiency if you consider in-country operations and ranks overall number three in East African region for the year ended 31 December 2023,’ Juma explains.
‘We have adopted disciplined execution of our strategy and continued to invest in technology and our people. This is important for implementation of strategy and I rarely authorise any spend that deviates from the strategic pillars set by NMB. We have also embarked on the sustainability agenda with a long-term view of the bank and sustained positive impact to the community,” he adds.
Prior to his current role, Juma was the Chief Internal Auditor at NMB Bank Plc from May 2018 to March 2021. During his tenure, he implemented rigorous audit processes and frameworks that strengthened the bank’s internal controls and risk management systems. His commitment to enhancing internal audit functions was further evidenced by his role as the Vice President and Deputy Board Chair of the Institute of Internal Auditors Tanzania from September 2017 to September 2019, where he contributed to the advancement of internal audit practices in the region.
Juma's extensive career in auditing and financial management includes key positions such as Regional Director at Barclays Bank Internal Audit for Southern Africa and Chief Internal Auditor at Barclays Bank Tanzania. His foundational years at PricewaterhouseCoopers as a Senior Associate provided him with a strong base in audit and assurance services.
