Dr. Alex Mbai joined KPMG in 2002 and was admitted as partner in 2016. He has over 21 years’ local and international experience in providing audit related services to organisations in Financial Services, Consumer and Industrial Markets, and Energy and Natural Resources in Kenya, Uganda, Tanzania, Ethiopia, Djibouti and Mauritius. In 2006, Alex was seconded to KPMG UK for 2 years where he worked under the KPMG Global Mobility Programme. He holds a PhD in Business Administration (Finance Option), Masters degree in Business Administration (Finance Option) and a Bachelor of Commerce degree (Accounting Option): all from the University of Nairobi (UoN). He is a member of the Institute of Certified Public Accountants of Kenya (ICPAK).
Alex is currently spearheading the KPMG focus group on IFRS 17 — Insurance Contracts due to his vast extensive experience in the insurance sector. He leads the KPMG IFRS 17 implementation project across East Africa and is widely consulted by industry experts, regulators and practitioners on the IFRS 17 standard. Some of his past and current clients as the lead audit partner are Jubilee Insurance Group, Liberty Insurance Group, UAP/Old Mutual Group, ICEA Lion Insurance Group, Sanlam Insurance Group, Citibank, Habib Bank, I & M Bank Group, amongst others.
Alex also participates on the Fire Award Evaluation Panel, a joint initiative of the Institute of Certified Public Accountants of Kenya (ICPAK), the Capital Market Authority (CMA) Kenya, and the Nairobi Securities Exchange (NSE), in recognizing and awarding best reporting entities. The Fire Award aims at promoting integrated reporting through enhancing accountability, transparency and integrity in financial reporting within East Africa.
Alex has been a trainer for ICPAK for more than 7 years and is a member of ICPAK Professional Standards Committee. He leads ICPAK’s task force on IFRS 17. Alex was in 2016 awarded the Top 40 under 40 men award by Business Daily. He has extensively written thought leadership articles in local and International media, largely on Insurance, Accounting and Finance. In 2020, Alex received a Commendation Award from ICPAK for his good standing membership and contribution to the accounting profession. His PhD Thesis is on Corporate Diversification, Firm Size and Performance of Commercial Banks in Kenya.