What Peter Kimingi likes about his role as Group CFO of Afrika Tikkun (AT), is his personal alignment to the organisation’s business model. Having worked for fifteen years in the non-profit education sector, he was yet to encounter an organisation that integrates all the different levels of education into one business model prior to joining AT.

‘AT has a model called “Cradle to Career,” where we provide support for kids from early childhood development (ECD) level all the way to training and access to the job market for the youth, which is unique to this organisation,’ Peter explains.

His journey to the non-profit sector began with his research paper at Wits University, where his MBA topic was assessing the impact of Corporate Social Investment (CSI) on corporate bottom lines. He evaluated the Johannesburg Stock Exchange Top 40 companies’ investments in CSI and tracked their performance over 10 years to determine if there was a correlation between CSI investment and share performance.

After his MBA, he joined the consulting arm of the accounting firm Nkonki and was asked to work on a donor-funded water project. When the programme directors noted that Peter’s MBA focused on CSI, they asked him to lead the project. Subsequently, he joined the Southern African Regional Universities Association secretariat, an entity responsible for higher education policy impacting twenty-seven public universities across the SADC region. This is how his journey in the non-profit education landscape began, and he is yet to leave.

‘Prior to joining the non-profit sector, one should ask oneself what makes one tick. If one is happy chasing a high-profit corporate job, this is not the right sector. This is a space for people looking to have an impact at a fundamental level and to create real change in people’s lives. It’s a shame that people often see this area as one for second-class citizens yet it is a critical cog that fills the void left by government and the private sector neglecting certain societal needs. It may not be glamorous, but if impact and meaningful work are what you’re looking for, then this is the sector for you,’ Peter says.

Unique challenges

The unique challenges of the sector are role-based and industry-based. The non-profit space has transitioned from just being non-profit to social enterprises, where non-profits have built commercial arms and initiatives to bolster their financial sustainability. Peter explains that the challenge is to keep the objective of organisations intact and avoid mission drift, which occurs when an organisation focuses more on profitable enterprises rather than its original mission. Mission drift may also occur when a non-profit fails to vet funding and work with funders who have objectives that are misaligned to the organisation.

‘From an industry perspective, there is a need to stabilise and professionalise systems so that they can outlast the position holders. For me, everything starts with the mission which is the main reason why the organisation exists, ensuring our strategic plans align with our mission and not just donor preferences,’ Peter states.

His journey into finance began with observing his maternal uncle, who was also in finance and very successful. He was the only one with a car in the family and Peter, in his early years, desired to be like him. Peter was good with numbers, and started studying to become a Certified Public Accountant (CPA) during his gap year prior to joining University of Nairobi to study a Bachelor of Commerce. After graduation with his degree in 2001, he joined the then Equity Building Society as an accountant and later worked at advertising firm McCann Erickson.

Move to South Africa

‘In early 2004, I joined Consumer Insights Africa as an accountant and quickly rose through the ranks to become the chief accountant. It was while working there that I went on a work trip to South Africa. I was impressed by how advanced economically the country was and decided I would return to study and explore opportunities. I enrolled for the MBA at Wits University despite protests from my then boss who was willing to pay for me to pursue the qualification part time at a Kenyan University,’ Peter recalls.

He liquidated his pension and took a big risk in moving to South Africa without a job living up to his budding philosophy that ‘high risk begets high rewards’. It was a life changing moment for which he has no regrets.

‘Another life-changing event was becoming a father to a bouncing baby girl 16 years ago followed by a little boy two years later. I realised that my children are wholly dependent on me for everything, and reaching different milestones in their lives comes with new challenges. Now that I have teenagers, it is an interesting and challenging job to be a father. I appreciate that I can now remember exactly how I was when I was their age,’ Peter says.

Books that have changed his perspective on life include those by Yuval Noah Harari, particularly “Sapiens: A Brief History of Humankind”.

‘Growing up, my parents were my only source of truth, and having a single source of truth can be problematic. “Sapiens” removes unverified stories and bases everything on observation and evidence, distinguishing reality from made-up stories. It enlightens us as to why we are human beings, why we exist, and how we ended up here. It offers a different truth from the one I grew up with, showing that humans continue to dominate and live in an organised, sustainable way.

The highs, the lows and the lessons

He believes that the highlight of his career is yet to come, although he is proud of certain achievements including his involvement in founding the National Education Collaboration Trust a decade ago which continues to make a significant impact on the education sector in South Africa today.

The low point of his career was working with a CEO who had a different vision from his as regards strategy formulation and implementation. This experience was draining and taught him the importance of being honest about how well you are aligned as a team. If misalignment is detected and impossible to resolve, one should be courageous enough to call it out and call it quits.

‘I have learned a lot from people in the different organisations I have worked for, particularly about leadership. I once thought being a CFO was about telling people what to do and how to do it, but I now understand that leadership involves listening more than talking. Asking more questions and being open to change are crucial. Another Harari book, “21 Lessons for the 21st Century” emphasises that the pace of change is at an all-time high, making it difficult to plan for the future world, including careers. We need to be open to change and observe how the world is moving to align accordingly,’ he advises.

One surprising thing about Peter is that despite his corporate persona, he is at heart a farm boy having grown up in the rural area. Today, he keeps goats back home in Kenya as a hobby and has plans to grow his flock for commercial purposes in future.