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PURITY MUMBE SAMMY
CFO – EA REINSURANCE
Purity Mumbe Sammy, Group Chief Finance Officer (CFO) at East Africa Reinsurance Company (EARe), embodies the dynamic blend of agility, expertise, and leadership that defines success in the finance world.
With a career spanning several continents and a profound understanding of finance, strategy, and risk management, Purity has established herself as a formidable figure in the industry.
In her role as CFO, Purity is responsible for shaping and executing the finance, actuarial and IT strategies that drive EARe’s growth and sustainability. This requires a deep understanding of the business, performance drivers, and the complex dynamics of the reinsurance industry globally and across the various markets EARe operates. “To be successful, you need to be agile. I attribute my success in the professional space to my agility,” Purity says, reflecting on the adaptability and resilience that have fueled her ascent in the finance sector.
As CFO, Purity’s responsibilities extend beyond traditional financial oversight and reporting. She oversees the company’s capital management strategy and plays a pivotal role in developing and executing the company’s investment strategy, which involves making critical decisions allocation of funds to maximise returns and support EARe’s long-term objectives. In addition, she guides the implementation of the IT strategy to ensure that it drives operational efficiency and supports innovation. Her strategic acumen, a key pillar of her leadership and thorough understanding of the financial landscape enable her to steer the company towards sustained success.
Reflecting on her time at EARe, Purity says the last four years have been thrilling and challenging in equal measure. Starting her CFO role at the onset of the COVID-19 pandemic, she believes that early scenario planning and an adaptive strategy ensured sustained success in challenging times. During this period, she has overseen the establishment of the company’s first subsidiary and developed a high-performing team. She has also led the implementation of a new reinsurance management system and spearheaded the implementation of the new accounting standard, IFRS 17, resulting in strategic and operational transformation. “I am proud of our achievements as a business and more excited about our future plans,” she opines.
Purity’s journey to EARe was preceded by a distinguished career at PricewaterhouseCoopers (PwC) Kenya, where she served as a Senior Manager. Her tenure at PwC allowed her to work with a diverse client portfolio, providing audit services to clients in the banking and insurance sectors. Over her 10-year career at PwC, Purity gained invaluable experience, working in offices across Kenya, South Africa, the United States (US), and the United Kingdom (UK). This exposure not only enriched her professional expertise but also deepened her appreciation for diversity in teams and business environments.
During her time in London, UK, Purity was part of PwC’s Banking and Capital Markets Group, where she honed her skills in audit and assurance. She was involved in complex transactions, including providing assurance over a multi-million-pound sale and purchase transaction, working on engagements related to the London Interbank Offered Rate (LIBOR), and gaining exposure to the then-new UK Generally Accepted Accounting Principles (GAAP). These experiences were instrumental in shaping her holistic approach to finance, blending technical proficiency with strategic insight.
Purity attended the prestigious Precious Blood Secondary School, where her academic excellence set the stage for her future success. Encouraged by a teacher and driven by her love for mathematics, she pursued a Bachelor of Commerce (BCom) degree in Finance at the University of Nairobi (UoN). Demonstrating her exceptional work ethic, she simultaneously pursued her Certified Public Accountant (CPA) qualification, attending evening classes while completing her degree during the day. This early dedication to her craft laid the foundation for her future achievements.
Never one to rest on her laurels, Purity recently earned a Master of Business Administration (MBA) degree from Warwick University. Her decision to pursue an MBA was driven by a desire to deepen her understanding of leadership and strategy, complementing her decade-long experience in consultancy. This advanced degree has further equipped her to navigate the complexities of the modern business landscape.
Purity strongly believes in sharing her time and resources with others in the community. She is passionate about education and specifically the education of the girl child and has sponsored several girls to attain secondary school education. The first girl she sponsored is a third student at Egerton University. She has a long-held aspiration to become a kindergarten teacher, inspired by her belief in the importance of early childhood education. “Researching what shapes a person’s character has taught me that the real impact happens before the age of six, which is why I want to be involved in shaping young lives,” she shares. This passion underscores her commitment to nurturing the next generation, whether in the boardroom or the classroom.
In her personal life, Purity enjoys reading and travelling, embracing the philosophy that “the world is a book and those who do not travel read only one page.” Her love for exploration and learning extends beyond the confines of her career, enriching her perspective and fueling her drive for continuous growth. Influenced by her husband, she picked up golf and says a couple of hours on the course remind her about the power of focus, consistency, patience and confidence.
As Purity Mumbe continues to lead EARe with vision and agility, her impact on the finance industry and the broader community is undeniable.
