Stephen Kinyua

Associate Director – Business Analyst and internal Controls

Stephen is an experienced Business Analyst with deep knowledge in the manufacturing and white-collar costing (ABC methodologies), transfer pricing, budgeting, budgetary control, accounting and management of fixed assets, factory variances’ analysis and resolution, analysis of financial results and formulation of gap close measures, financial reporting, internal controls compliance and System implementations.  He has business analysis experience spanning over 20 years.

Stephen is passionate and highly skilled in financial business planning, performance management, and  reporting, internal controls compliance and training development and leadership

He started his professional career at Unga Feeds Ltd as an Assistant Accountant and later joined Nestle as a Cost Accountant, and worked there for 21 years, growing through the ranks to a Senior Cost Accountant, Factory Controller, Regional Business Analyst and Regional Technical Controller.

Stephen holds a Bachelor of Commerce degree (Accounting) from the University of Nairobi and is a Certified Public Accountant (CPA). He is a member of the Institute of Certified Public Accountants of Kenya.

His value-adding professional skills and experience entail: 


  • Determining the technical overheads budget, to support activities and meet resource requirements
  • Consolidating relevant budget inputs and preparing the factory production cost budget
  • Carrying out quarterly budget revisions and advising senior management on any significant movements in the cost of products to aid in reviewing pricing strategy
  • Reviewing and consolidating budgets to establish the overall expected performance of the company and guide in instituting gap close measures
  • Supporting company strategy of innovation and renovation through feasibility studies for new products, combining capital projects appraisal and costing simulations


 Budgetary control through regular review of expenses and spending plans, instituting and enforcing cost-saving measures

  • Analyzing and processing actual quantitative data (materials consumption, direct expenses, overheads, amongst other inputs) to establish the actual cost of production, comparing against expected results and formulating measures to protect marginal contribution and bottom line
  • Performing comprehensive analysis of factory variances and presenting the for discussion with relevant factory personnel in order to formulate remedial actions
  • Benchmarking: collecting, analyzing relevant costing data to guide operational improvement and cost reduction through adaptation of best operational practices
  • Monitoring key performance indicators to assess, analyze and track manufacturing processes against targets
  • Working capital analysis and management


  • Interpreting and simplifying accounting reporting instructions received from the Group Head office and guiding operating companies in the adaptation process
  • Running detailed analysis of Income Statements and Balance Sheets, and providing insightful commentary for reporting purposes and guiding management action
  • Analysing and providing guidance on monthly trends of the goods sold and factory overheads
  • Evaluating performance reports on the allocation of white-collar costs and guiding Business Controllers on areas for cost control and rationalization


  • Setting up / updating System for Internal Controls self-assessment
  • Reviewing responses to self-assessment questions, assessing integrity and compliance to self-assessment requirements
  • Analysing internal controls information and working together with the concerned management team to put in place action plans to address issues of non-compliance
  • Conducting periodic reviews of work done to close gaps and where necessary instituting interventions to ensure closure
  • Assessing internal controls for relevance and or obsolescence in a changing work environment and enhancing them to ensure they remain optimal for the current state of risks


  • Organising and conducting costing induction training for new Cost Accountants & Factory Controllers
  • Overseeing and guiding Factory Controllers / Accountants in factory budgeting, cost control, monitoring and correction of factory variances, reporting and in the implementation/upgrade of reporting Systems
  • Promoting the understanding of costing /costing processes, through training, within the finance organization to build competencies for better cost control and reporting.