President William Ruto has appointed Nancy Onyango, a renowned accountant and corporate executive, to chair an independent task force for auditing Kenya’s public debt.
Onyango, who previously served as the Director of the Office of Internal Audit and Inspection at the International Monetary Fund (IMF), will lead the task force in providing clarity on the nature and management of the country’s public debt.
She will be deputized by Prof Luis Franceschi, with support from four additional members including Law Society of Kenya President Faith Odhiambo, Institute of Certified Public Accountants (ICPAK) Chairperson Philip Kaikai, Institution of Engineers of Kenya (IEK) President Vincent Kimosop, and Shammah Kiteme.
As per Ruto’s directive, the task force will begin its mandate immediately and will serve for a period of three months.
“The task force will serve for a period of three months from the date of this notice or for such a longer period as may be specified by further notice in the Gazette,” read the notice.
So, who is this powerhouse Nancy Onyango, and what makes her the ideal candidate to lead this critical audit?
Nancy Onyango’s Qualifications
Nancy is a highly accomplished professional with over 25 years of experience in the field of accounting and finance.
She holds a Bachelor of Commerce degree (1st Class Honours) in Accounting and Finance from the University of Nairobi and an MBA from the same university.
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She also received a Doctorate in Business Administration (DAB) degree from the United States International University Africa.
Additionally, she has honed her skills through executive education programs at the prestigious Columbia Business School in New York.
She is also a qualified CPA, certified in the following fields;
- Risk and Information Systems Control (CRISC)
- Information Systems.
- Corporate Governance for Enterprise IT (CGEIT) from the ISACA International
- Risk Management Assurance (CRMA) from the global Institute of Internal Auditors.
Nancy Onyango’s Tenure at IMF
Nancy was appointed Director of the Office of Internal Audit at the International Monetary Fund in February 2018, where she served a two-term tenure.
At the IMF, Onyango was a strong advocate for work-life balance, employee mental health, and diversity, equity, and inclusion.
She has led important audits and reviews, including the first-ever audit of the IMF’s Enterprise Risk Management Framework.
On January 29, 2024, Onyango left the IMF following the end of her second term.
In her farewell statement, IMF Managing Director Kristalina Georgieva commended Onyango’s dedication, stating that her contributions saw the fund meet the highest standards of transparency and accountability in the service of its membership.
Other Leadership Roles
Prior to joining the IMF, Onyango held various leadership roles at global audit and advisory firms such as PricewaterhouseCoopers and Ernst & Young, working across the UK, Europe, and Africa.
She has worked as a gender leadership specialist and sits on the Board of Global Give Back Circle, an organization that champions for women empowerment.
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Furthermore, Onyango previously sat on the boards of Fairtrade Africa, Fairtrade International, Kenya Commercial Bank Group, Financial Sector Deepening Africa and Cytonn Investments Limited.
In 2023, her impressive credentials placed her among the shortlisted candidates to succeed Dr. Patrick Njoroge as Central Bank of Kenya Governor.
As the nation navigates its financial landscape, her leadership will undoubtedly play a pivotal role in providing the clarity and insights needed to manage the country’s public debt effectively.
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