Accounting firm Ernst & Young LLP (EY) has unveiled the audit firm’s first female regional chief executive, Nancy Muhoya, who is set to take over from Gitahi Gachahi who retires next year.
Ms Muhoya, who is the new EY Kenya managing partner and East Africa region leader, is also the first woman to be appointed to the top position in Africa.
An insider, Ms Muhoya is a Certified Public Accountant of Kenya and joined EY 16 years ago, holding various positions which have over the years propelled her to the top.
“I am proud to announce the appointment of Nancy Muhoya Ng’ang’a as the leader of EY East Africa and the Kenya country managing partner. She goes down in record as the first female cluster leader to be appointed in EY Africa,” said the outgoing boss Gitahi Gachahi in a statement.
Ms Muhoya is credited by the firm for registering great performance and growth of the company’s audit business, when she served as a partner and leader of assurance services in EY East Africa.
She held the top position at the assurance services division prior to being appointed at the helm.
“The growth of our assurance business has been phenomenal under the leadership of Nancy. With her experience, business acumen, exposure and global mind set, our business is poised for a take-off to the next level,” added Mr Gachahi, who was named among Kenya’s billionaire taxpayers in 2017, according to data from the Kenya Revenue Authority (KRA).
He is leaving EY after a 30-year stint at the firm where he played different roles including as the regional tax leader as well as the people (HR) partner before becoming the chief executive.
Mr Gachahi took over from former Mumias Sugar #ticker:MSC boss Coutts Otolo, who went on to set up his auditing and accounting firm — Parker Randall Eastern Africa.
Along with other silent billionaires such as outgoing KPMG boss Josphat Mwaura, Mr Gachahi was listed by the KRA in 2017 among Kenya’s high-net-worth individuals with gross annual incomes of between Sh350 million and Sh1 billion.