#10
CAROLINE NDERITU
FINANCE & ADMINISTRATION DIRECTOR – MINET KENYA
With over 15 years of experience in the finance sector, Caroline Nderitu has established herself as a formidable figure in the C-suite. Her journey is marked by strategic foresight, exemplary leadership, and a relentless pursuit of excellence, making her a role model for aspiring finance professionals, more so, women.
As Finance and Administration Director at Minet Kenya since July 2017, Caroline plays a crucial role in shaping the financial landscape of the company by providing strategic financial oversight, driving sustainable growth and ensuring all stakeholders commitments are met. She has been instrumental in introducing more efficient receivable management policy and techniques, which have significantly reduced the company’s overall outstanding debt.
This accomplishment has not only improved the company’s cash flow but also positively impacted its balance sheet. Her strategic cost management initiatives have consistently yielded 15 percent year-on-year (YoY) savings without compromising the quality of business operations and growth strategy. Moreover, Caroline’s efforts in optimising operational costs and growing investment income have resulted in a consistent 10 percent growth in shareholder dividends. Under her leadership, Minet Kenya’s financial operations have been streamlined, ensuring compliance with both local and international reporting standards.
Caroline’s journey to the top echelons of finance began with her role as a Senior Fund Accountant at Alexander Forbes Financial Services, where she worked from June 2006 to December 2009. During her tenure, she resolved various reconciliation issues within defined benefit and contribution schemes, providing accurate financial reports to trustees. She also played a key role in formulating financial management and accounting procedures that complied with international accounting standards, ensuring the timely preparation of financial statements.
Her success at Alexander Forbes paved the way for her next role as Head of Fund Accounting at Aon Kenya Insurance Brokers. From January 2010 to December 2013, Caroline continued to demonstrate her exceptional skills by developing investor servicing procedures, fund administration processes, and documentation that streamlined operations. She was also pivotal in ensuring 100 percent compliance through the implementation of an internal audit process. Her efforts in developing a client services model fostered better engagement, accountability, and positive client feedback.
In January 2014, Caroline transitioned to the role of Chief Accountant at Aon Kenya, where she continued to excel. Over her three and a half years in this position, she spearheaded the timely preparation and presentation of business financial reports, budgets, and financial analyses. Her focus on improving internal processes, staff coaching and training and fostering team synergy led to a more efficient audit process, reducing the time required from three months to just three weeks. She also successfully developed a role to manage tax compliance, ensuring adherence to the ever-changing tax laws.
Caroline’s academic background further solidifies her expertise. She holds both a Master of Business Administration (MBA) degree in Finance, and a Bachelor of Commerce (BCom) Honours degree in Finance from the University of Nairobi (UoN). Additionally, she is a Fellow of the Institute of Certified Public Accountants (FCPA), underscoring her commitment to maintaining high standards of professional excellence.
Beyond her technical expertise, Caroline’s leadership style is characterised by a commitment to transparency and accountability. At Minet Kenya, she partnered with the CEO to institute a committee to roll out a transparent procurement process, which not only benefits the company financially but also ensures adherence to prescribed service level agreements and standards. Her strategic vision has consistently aligned with the company’s broader business objectives, particularly in areas such as strategy formulation, forecasting, planning, and risk mitigation.
Caroline’s tenure at Minet Kenya is additionally marked by her ability to inspire and lead. Her collaborative approach with other directors has been key in championing the implementation of the annual business strategy, improving buy-in and work relationships across the company. Her successful handling of a complex tax matter, reducing a tax demand from KES 600 million to KES 83 million, is a testament to her adept negotiation skills and deep understanding of the financial landscape.
In a nutshell, Caroline Nderitu’s journey in the finance sector is a shining example of what can be achieved with dedication, expertise, and a strategic mindset. As she continues to navigate the complexities of the financial world, her influence and impact are poised to grow, making her an indispensable asset to the industry and a source of inspiration for future generations.
As a devoted wife and loving mother of two, her commitment is to impact society positively and leave a better world for her children and their future generations.
