Business

Treasury Manager

Manages an organisation's cash, liquidity, funding and financial risk — ensuring sufficient cash for operations while optimising returns on surplus funds and managing currency, interest rate and counterparty risks. Combines financial market knowledge, cash flow forecasting, investment management and risk hedging. In Kenya's volatile currency environment (KES depreciation) and high-interest-rate economy, treasury managers are critical for companies with significant cash flows, foreign exchange exposure or borrowing needs.

AI exposure: 48 of 100, moderate exposure
Hiring trend: Stable
Hiring rate: 40%

The role

What the work is, what it pays, and what it costs you.

At a glance

Remote friendly: Yes
Freelance potential: Low
Time to senior: 8 years

A day in the role

Prepares the daily cash position for the organisation — aggregating balances across 15 bank accounts and projecting the day's inflows and outflows. Places KES 50 million surplus in a 30-day commercial paper at 12% yield. Hedges a USD 500,000 payable with a 3-month forward contract at KES 152/USD. Reviews the quarterly debt portfolio — recommending refinancing of a high-interest term loan. Negotiates a new overdraft facility with Standard Chartered. Reports treasury performance to the CFO.

What it pays

Kenyan market, per month

Entry: KES 80,000-150,000
Mid: KES 200,000-450,000
Senior: KES 500,000-1,200,000

Exposure

How much of this a machine can already do, and how that was worked out.

Where this rating sits

1,516 rated careers

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020406080100

Rated above 64% of the 1,516 careers in the catalogue, which averages 43. Inside business the mean is 55, across 118 careers.

Named task by task

Already automated

AI-powered cash flow forecasting from historical patterns and payment cycle data
Automated FX exposure calculation and hedging recommendations
AI-assisted investment portfolio optimisation within risk parameters
Real-time treasury dashboards with predictive liquidity alerts

Still human

Managing cash and liquidity — daily cash positioning, bank account reconciliation, ensuring sufficient funds for operational needs across all accounts
Forecasting cash flows — projecting inflows and outflows weekly, monthly and quarterly to identify surpluses and shortfalls
Managing funding — arranging short-term financing (overdrafts, commercial paper, bank lines) and long-term funding (term loans, bonds) when needed
Investing surplus funds — placing excess cash in money market instruments (T-bills, commercial paper, bank deposits) to earn returns while maintaining liquidity
Managing foreign exchange risk — hedging currency exposure through forward contracts, options and natural hedging for companies with USD/EUR revenues or expenses
Managing interest rate risk — hedging borrowing costs through interest rate swaps, fixing variable rates or managing the debt portfolio mix
Managing banking relationships — negotiating facilities, fees, service levels with relationship banks (Equity, KCB, Standard Chartered, Citi)
Ensuring compliance — CBK foreign exchange regulations, capital controls, tax implications of treasury transactions, board treasury policies

Task counts

Displacing: AI automates cash flow forecasting and basic FX exposure calculation — but strategic treasury decisions require human judgement.
Augmenting: AI cash forecasting improves accuracy. Automated FX exposure calculation speeds up hedging decisions. AI portfolio optimisation maximises returns within risk parameters.
Creating: AI-driven treasury platforms create new roles for managers who can integrate AI forecasts with market judgement, banking relationships and risk management.

Sources

Behind the rating

CBK financial market data
Kenya FX market (USD/KES)
Nairobi Securities Exchange
Kenya corporate treasury practices

Getting in

The routes into the role and what each one asks for.

What to study

8 courses

How people get in

BCom Finance/Economics + treasury experience
6-8 yearsVery high cost
BCom from UoN, KU, Strathmore or USIU plus experience in banking treasury or corporate finance — progression to treasury manager
BCom + ACT certification + treasury experience
6-9 yearsVery high cost
BCom plus ACT (Association of Corporate Treasurers) qualification for professional treasury credentials

Who hires

Safaricom
Kenya Airways
EABL
Large Manufacturers
Banks (Treasury Departments)
UN Agencies

Common misconceptions

Treasury is just managing bank accounts
Corporate treasury involves cash flow forecasting, funding strategy, investment management, FX and interest rate risk hedging, banking relationship management and financial market analysis. A treasury manager at Safaricom manages billions of shillings in daily cash flows and M-Pesa float.
Treasury is only for banks
Every large company with significant cash flows, foreign exchange exposure or borrowing needs requires treasury management. Manufacturing, telecom, airlines, FMCG and international organisations all employ treasury managers.
Treasury is boring accounting work
Treasury is a dynamic, market-facing function — making real-time decisions about investments, hedging and funding based on market conditions. Treasury managers monitor global markets, manage financial risks and can save (or earn) organisations millions through optimal decisions.

What happens next

How the role changes from here, and where it leads.

Growth outlook

Net demand change: +12%
Over: 2026-2028
Drivers: KES volatility increasing FX risk management demand,High interest rates requiring optimal funding strategies,Corporate sector growth increasing treasury complexity,Digital treasury management systems adoption,IFRS 9 hedge accounting requirements
Headwinds: Limited hedging instruments in Kenya,Concentration risk (few major banks),CBK regulatory constraints on FX,Economic volatility affecting treasury operations

What to learn

AI-powered cash forecasting and treasury management platforms
Digital banking and API-based treasury operations
ESG and sustainable treasury (green bonds, SRI)
Cryptocurrency and digital asset treasury management
Advanced hedging strategies for emerging market risks

Kenyan market notes

Treasury management is critical for Kenyan companies with significant cash flows, FX exposure or borrowing needs. Key sectors: telecom (Safaricom — massive cash flows, M-Pesa float management), airlines (Kenya Airways — USD revenues, fuel costs, FX exposure), manufacturing (imported raw materials, USD payments), FMCG (EABL, Unilever — imported inputs), agriculture exporters (tea, coffee, flowers — USD/EUR revenues), international organisations (UN, NGOs — USD funding, KES operations). Banking treasury: banks have large treasury departments managing the bank's own liquidity, FX trading, interbank lending and regulatory reserves (CBK cash reserve ratio). Financial markets in Kenya: Nairobi Securities Exchange (NSE) for bonds and equities, interbank market for short-term lending, FX market (USD/KES is the dominant pair), money market (T-bills issued weekly by CBK, commercial paper). Key instruments: T-bills (91, 182, 364-day), T-bonds (2-30 year), commercial paper, bank deposits, FX forwards, interest rate swaps. CBK (Central Bank of Kenya) regulates financial markets — setting the central bank rate (CBR), managing liquidity through open market operations, regulating FX transactions. KES volatility: the Kenyan shilling has depreciated significantly against the USD (from KES 100/USD in 2015 to KES 150+/USD in 2024) — making FX risk management critical for companies with USD exposure. Key challenges: KES volatility increasing FX risk, high interest rates increasing borrowing costs, limited hedging instruments (no exchange-traded FX futures in Kenya — only OTC forwards), CBK foreign exchange regulations, and concentration risk (few major banks). Salary: entry KES 70,000-130,000 (treasury analyst), mid KES 160,000-350,000 (treasury manager), senior KES 400,000-900,000+ (head of treasury or group treasurer).