#14
DR. RACHAEL GITONGA
CFO – ZEP-RE
In life, the pursuit of passions often strengthens discipline, shaping an individual’s character and resilience. For Dr. Rachael Gitonga, this philosophy is deeply ingrained in her personal and professional journey. Her passion for running is a testament to her belief in grit, courage, and the relentless pursuit of excellence.
Rachael is an experienced finance strategy professional, currently serving as the Chief Finance Officer (CFO) at ZEP Re (PTA Reinsurance Company). In this role, she oversees the company’s financial planning, operations, investment strategies, and governance, ensuring that the company’s financial performance aligns with its long-term strategic goals. Her expertise extends to monitoring strategy execution, managing financial risks, and reporting to the board, making her a critical pillar in the firm’s leadership.
Before joining ZEP Re, Rachael held a similar CFO role at East Africa Reinsurance (EARe), where she was instrumental in guiding the company’s financial strategy and operations across the region. Her responsibilities included managing financial accounting policies, treasury management, and investment strategies, all while ensuring that the company adhered to the highest standards of governance.
Rachael’s career foundation was laid at PricewaterhouseCoopers (PwC) Kenya, where she spent over 12 years, including three years in the PwC South Africa office. During her tenure, she gained extensive experience in financial reporting, risk management, and performance management, working with large insurance and investment management companies listed on both the Nairobi Stock Exchange (now Nairobi Securities Exchange NSE) and Johannesburg Stock Exchange (JSE).
Her work included providing audit services, conducting due diligence, and participating in transactions related to the flotation of securities. Rachael’s contributions to PwC were recognised when she was awarded the Manager of the Year Award in the Financial Services Insurance and Investment Management (FSIIM) division in 2012.
In addition to her professional achievements, Rachael has made significant contributions to thought leadership in finance. She served on the Assurance Kenya IFRS Technical Committee, where she provided guidance on the application of International Financial Reporting Standards (IFRS) guiding teams with the interpretation and compliance of the accounting standards. She also authored the article ‘REITs Right Now in Kenya’ for PwC’s Financial Focus publication, highlighting new real estate investment opportunities in the country.
Rachael’s dedication to her field has earned her several accolades, including being named one of Kenya’s Top 40 under 40 Women by Nation Media Group (NMG) in 2017. She attributes a lot of her success to not just her hard work (which really counts) but also to people around her ranging from family,peers and seniors who have been instrumental in challenging her and supporting her in equal measure.
Rachael holds a Doctor of Business Administration (DBA) degree in Finance from the United States International University – Africa (USIU-A), a Master of Science (MSc) degree in Finance from the University of Nairobi (UoN), and an Advanced Diploma in Management Accounting from the Chartered Institute of Management Accountants (CIMA). She is also a Certified Public Accountant (CPA) and has been an active member of the Institute of Certified Accountants Kenya (ICPAK).
While Rachael’s professional achievements are remarkable, her passion for running is an equally significant part of her life. More than just a hobby, running is a source of balance, strength, and inspiration for her. As a devoted wife and mother of two boys, she finds that running helps her maintain focus and resilience in both her personal and professional life. The discipline, endurance, and determination that running demands are qualities that Rachael brings to her work every day.
Rachael has participated in several prestigious marathons, including the Nairobi Marathon, Kilimanjaro Marathon, Chicago Marathon, Berlin Marathon, Vienna Marathon, Dubai Marathon, Valencia Marathon, Tokyo Marathon, Sidney Marathon (September 15th 2024) and the 90-kilometre Comrades Marathon, also referred to as the ultimate human race, which she has impressively participated in thrice. Each race symbolises Rachael’s relentless pursuit of self-improvement and her love for pushing her limits. These experiences on the racecourse translate into her work, where she continuously strives for excellence and growth.
Rachael’s passion for running has extended beyond the track, allowing her to make a meaningful impact through philanthropy. She founded ‘Miles4Shillings,’ a charity initiative that raised over USD 10,000 between 2019 and 2021 to support the Faraja Cancer Support Trust Fund in its mission to fight childhood cancer. This initiative inspired the creation of the Be Bold, Go Gold Run/Walk, a charity event dedicated to the same cause. The third edition, held in September 2024, attracted over 2,000 participants, including the legendary marathoner Eliud Kipchoge. Notably, Rachael serves on the organising committee of this impactful event.
Rachael is enthusiastic about helping others discover their best selves through race management. As part of the FitnessWithDavid (FWD) Secretariat, she has played a key role in growing recreational running in Kenya. Driven by the mission of ‘Inspiring Humans to Run’, FWD organises and manages races, collaborating with other entities in Kenya and beyond to enhance the racing experience.
Rachael has been instrumental in organising events such as the ‘Adopt a Family Run’ to support COVID-19-affected families, the ‘FWD Ignite New Year Run’, the ‘Run Where You Live’ series, and the ‘Nairobi Marathon Relay’. These races have raised funds to support women suffering from fistula in partnership with AMREF Kenya and to aid various charity organisations in the slums of Kibera, Waithaka, Mukuru, and others.
For Dr. Rachael Gitonga, running is a metaphor for life, offering valuable lessons in discipline, consistency, grit, and endurance, while emphasising the importance of not only setting goals but also putting in the effort to achieve them. These principles have been pivotal in her role as CFO at ZEP-Re.
As she reflects, her experiences have helped her realise that we are capable of multiple forms of excellence, and we must consistently strive to reach our fullest potential. More importantly, she believes in making a positive impact, not only for ourselves but for those around us and especially for those in need of support.
