Rachael Gitonga

Background

About Rachael Gitonga

At ZEP-RE, my role as Chief Finance Officer is underscored by a strategic vision for financial management. With a deep-rooted understanding of financial dynamics within the insurance industry, I lead initiatives that enhance profitability and ensure robust financial health across organizations. My approach integrates monitoring company financial performance towards execution of the company strategy with a commitment to financial excellence. At the heart of my mission lies the drive to create sustainable financial frameworks, ensuring ZEP-RE's resilience and growth in the dynamic economic landscape. My role extends beyond numbers, encapsulating board reporting and governance, ensuring transparency and accountability. At the heart of my professional journey lies a dedication to excellence, manifested through the successful navigation of complex financial landscapes and the empowerment of organizational fiscal health. I am passionate about mentoring the next generation of financial leaders motivating them to exceed expectations. I serve as a director of Acre Africa Kenya and a member of the Risk and Audit Committee. ACRE Africa empowers farmers across Africa to thrive in the face of climate challenges. Acre designs and implements innovative risk mitigation solutions that protect farmers against risks like droughts, floods, and excessive rainfall. During my career, from PricewaterhouseCoopers to East Africa Reinsurance, I was recognized for my pivotal role in high-profile audits and strategic policy formulation. My doctorate research was in-depth study on the efficacy of financial soundness indicators in predicting the profitability of insurance companies in Kenya. Utilizing the CARAMELS model, my research revealed that capital adequacy, asset quality, earnings and business volumes, liquidity, and management soundness are key determinants of financial performance. Conversely, actuarial liabilities, reinsurance, and the presence of subsidiaries and related parties showed no significant impact. These insights offer a valuable framework for the industry, providing a basis for regulatory and managerial decision-making, and paving the way for the development of a performance index to guide investors on the financial health of insurance firms. I am deeply committed to community engagement, actively leading charitable initiatives that make a difference. I serve as an executive member of the FwD Secretariat, an organisation that is committed to the growth of recreational running in Kenya, aligning to it's mission of ‘Inspiring Humans to Run’.