The EastAfrican Date: 10.08.2014 Page 60 Article size: 119 cm2 ColumnCM: 26.44 AVE: 39666.66 NSElisted firms compete for few qualified CFOs THE EXIT of Colins Otiwu from John Staley, designated as chief of the Kenyan market for CFOs is lim KCB highlights the increased turno ficer in charge of finance, innova ited. "The role of the CFO is under ver among CFOs at NSElisted firms, tion and technology. Previous hold especially banks, as companies bat ers of the docket at Equity are Sam tle for highly qualified talent to spur son Oduor, Paul Njaga (2012), Ed win Mucai (2011) and Allan Mwangi growth. Though the reason he left re (2010). National Bank in September last mains unclear, his exit raises eye brows and mirrors the challenge year tapped Chris Kisire, former that boards are facing in attracting head of finance at Mumias Sugar, and keeping talent at that level. as the lender's CFO. Eveready ap Joshua Oigara, the KCB CEO, had pointed Geoffrey Mbwika as finance head hunted Mr Otiwu from rival manager in July this year. He was Equity Bank where he was finance poached from Oserian. Jonathan director for two years. Getting talent at the CFO level Neill Eggar was hired by Scangroup has been challenging. Equity Bank Limited market has had five CFOs since 2010, with the current holder of the post being in December 2013 as CFO. In 2013, Renaissance Capital said greater scrutiny, internally and externally. CFO turnover is on the rise," said consulting firm Deloitte & Touche in a study dubbed CFOs in Transition: Four Faces of the CFO. Yet, despite the limited talent at the CFO level, not many are trans iting to head companies, as seen in recent CEO appointments at Kenya Airways, Standard Group and Ken ya Airport Authority. Only Joshua Oigara, the KCB CEO, has bucked the trend recently. Mr Oigara served as CFO of the bank from January 2012 prior to his appointment to the corner office in January 2013. Ipsos Kenya Acorn House,97 James Gichuru Road Lavington Nairobi Kenya
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