In an insightful interview, ALN Kenya Managing Partner Daniel Ngumy, who will be a judge at the 2025 CFO Awards for East Africa, emphasises the importance of dynamism in today’s finance leaders. He highlights the need for integrity in the profession, recognising the awards as an important platform for enhancing the profile of CFOs in the region.
What attracted you to join the panel of judges for the 2025 CFO Awards for East Africa?
My role as co-managing partner at ALN has shown me the importance of identifying and nurturing leadership potential within an organisation. For example, I’ve seen how our CFO has grown in the role, transforming the position and demonstrating the strategic importance of a well-led finance function. This has deepened my appreciation for the complexity and impact of the CFO role on organisational success, particularly in driving strong financial performance and delivering returns to stakeholders.
Joining the panel of judges aligns perfectly with my passion for advancing collaboration and promoting excellence in key leadership roles like that of the CFO. High-quality CFO leadership not only benefits individual organisations but also strengthens the regional market, enhancing our ability to deliver world-class services to local and multinational companies operating in East Africa.
Which qualities and attributes will you be looking for in the nominees during the judging process?
I will be looking for visionary leadership and strategic thinking, especially as CFOs increasingly need to adapt to a rapidly changing global economy and technological landscape. It is also essential to see a strong track record of integrity and inclusivity, as these traits are critical for building trust within and outside the organisation.
Additionally, I’ll be keen to assess how nominees align their organisations’ financial goals with sustainability objectives. The ability to integrate financial performance with ESG principles and long-term value creation will certainly stand out.
How do you think the role of the CFO has evolved in recent years, and how do you plan to apply this perspective when evaluating candidates?
The CFO role has transformed from being primarily a financial steward to becoming a strategic partner integral to business success. In many organisations, the CFO’s influence now rivals that of the CEO or COO. This evolution includes responsibilities like risk management, where CFOs are expected to view risks, such as cybersecurity threats, as existential challenges requiring proactive mitigation.
CFOs are also deeply involved in technology, needing to understand how systems like ERP software can drive financial performance. Moreover, the role now extends to treasury management, especially in hyper-inflationary environments, where strategic thinking is critical to safeguarding organisational stability.
Today’s CFOs are increasingly seen as deputy CEOs, bridging finance with broader organisational strategy. It will be fascinating to hear from nominees how they perceive and navigate these evolving aspects of the role in the East African context.
How will you ensure fairness and impartiality in the judging process when reviewing the achievements of diverse candidates?
Fairness will be achieved through a structured, evidence-based evaluation process. It’s important to go beyond broad statements like “I’m a visionary” or “I’m a strategic thinker” and instead assess concrete examples that demonstrate these qualities in action.
Of course, organisations vary widely in their contexts and challenges, so evaluations will need to be nuanced and account for these differences. However, by focusing on factual analysis and measurable outcomes, we can ensure impartiality and make judgments based on merit rather than subjective impressions.
How do you think these awards contribute to the finance profession and the broader business community?
The awards will play a pivotal role in raising the profile of East African CFOs, many of whom are increasingly recognised beyond the region. This helps attract investor confidence by showcasing a pool of talented financial leaders who meet global standards.
Over time, these awards can foster a culture of integrity and innovation in the private sector, encouraging CFOs to lead by example in tackling corruption and upholding ethical practices. Recognising excellence in finance leadership will not only enhance accountability but also inspire the next generation of CFOs to uphold these values in their organisations.
Share some personal experiences from your career background that you believe will help you bring a unique perspective to the judging panel This year marks 20 years since | began my career as a legal pupil. After joining PwC as a junior tax associate, | worked with KPMG in the UK before returning to Kenya, where I’ve been with ALN for the last 15 years. My role has evolved significantly, from being a client-facing lawyer to holding senior management responsibilities as co-managing partner.
These experiences, coupled with my role on the American Chamber of Commerce board, have given me deep insights into governance, strategic execution, and the critical role of business integrity. As a qualified accountant, | also bring a technical understanding of finance that complements my broader perspective on organisational leadership.
What advice would you give to future CFOs who aspire to be recognised at an awards level?
A career is a marathon, not a sprint. It’s important to focus on continuous self- improvement and lifelong learning rather than just monetary milestones. Future CFOs should aim to cultivate professionalism both within their organisations and externally in the broader finance community.
To be successful, a CFO must be a trusted advisor to their board and a reliable leader within their team. This requires not only mastering financial expertise but also understanding the broader dynamics of the business, from revenue generation to strategic problem-solving.
This article was first published by CFO East Africa.