Hello, my name is

Dr. Lucy Muthoni

I am a Mathematician

A Fulbright Scholar, Senior Actuarial Science Lecturer, and TEDx Speaker using mathematics to solve real-world problems — from Kenya's revenue sharing formula to pension reform for the informal sector.

I transform policy, empowers students, and advocate fiercely for educational equity across Africa.

<b>Dr. Lucy</b> Muthoni
  • 15 + Years of Experience
  • 80 + Completed Projects
Web Developer

What I Do

I am a Mentor TEDx Speaker Policy Advisor Mathematician Tenured Lecturer

Mathematics & Actuarial Science Education
Academic Leadership & Teaching

I am a Senior Lecturer at Strathmore University where I design curricula, lead the Mathematical Finance Research Hub, and mentor undergraduate and postgraduate students in actuarial science, financial mathematics, and data science.

My teaching methods have produced the highest number of student-led start-ups in the institute.

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Mathematical Finance & Applied Mathematics Solutions
Research & Innovation

I lead groundbreaking research in mortgage-backed securities, pension schemes for the informal sector, machine learning for identity fraud prevention, and spatial econometrics for affordable housing. My research students have published in prestigious journals including Harvard publications.

I believe research should solve societal problems — from creating affordable housing models to facilitating pension cover for Kenya's informal sector using mobile phone airtime.

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Data-Driven Strategy for Government & Industry
Policy Advisory & Consultancy

I provide expert advisory services on public policy, financial regulation, and risk management. My work includes constructing indices for Kenya's revenue-allocation formula, advising on pension reform, affordable housing models, and health insurance pricing for national and county governments.

I've worked with the Kenyan Commission for Revenue Allocation (CRA) as an academic technocrat since 2016.

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TEDx Speaker | Conference Presenter | Workshop Facilitator
International Speaking & Training

I deliver keynote addresses, conduct corporate training, and facilitate workshops on mathematical thinking, data analytics, leadership, and innovation. I've spoken and consulted in the USA, South Africa, Ghana, Namibia, Botswana, and across Kenya.

My presentations blend rigorous mathematical thinking with compelling storytelling from my journey and the real-world impact of data-driven solutions.

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STEM Education & Professional Development
Mentorship & Capacity Building

I train mathematics teachers, mentor actuarial science students, and run professional development programs on soft skills, communication, research funding, and career planning. I'm deeply passionate about making STEM education accessible to students from disadvantaged backgrounds.

In 2022, I visited 24 public Kenyan universities to mentor students pursuing Actuarial Science and Mathematics; sharing not just technical knowledge, but the belief that your background doesn't define your future.

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Educational Equity & Community Development
Social Impact Initiatives

From Nairobi, Kenya to Indiana, USA, I work to close the opportunity gap for vulnerable children and ensure equal access to quality education and extracurricular activities.

I know firsthand that access to resources can change everything. That's why I'm committed to opening doors for others.

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Publications
Services

Professional Skills

my Talent
Mathematical Finance and Actuarial Science

I have advanced expertise in life insurance, pension mathematics, risk modeling, pricing derivatives, and constructing yield curves for financial markets. I currently teach Life Insurance and Actuarial Investigations to fourth-year students at Strathmore.

95%
Research & Data Analysis

I'm proficient in applied research, statistical modeling, spatial econometrics, machine learning, and data-driven decision-making for policy and business. I've used these skills to solve problems for over 15 years, in and outside Kenya.

90%
Policy Advisory

I have extensive experience advising governments, NGOs, and corporations on revenue allocation, affordable housing, pension reform, and health insurance. On a macro level, my work has shaped national policies impacting millions of Kenyans.

90%
Curriculum Development & Teaching

I'm skilled in stakeholder mapping, cross-cultural communication, public speaking, and building partnerships with government, industry, and academia.

88%
Leadership & Mentorship

I have strong leadership experience in academic management, team building, conflict resolution, and mentoring students and early-career professionals. My goal is always to see beneath the surface and identify the potential in every person I work with.

90%
Strategic Planning

I am a strong strategic thinker who's able to create initiatives and weave in tactical implementation that considers the execution environment.

87%
Skills

Academic publications

my Published Works
2021
Analysis of Risk Measures in Portfolio Optimization for the Uganda Securities Exchange

An evaluation of multiple portfolio optimisation models for the Uganda Securities Exchange that finds that Mean-CVaR and ACE models deliver the strongest risk-adjusted performance, while highlighting that relying on a single risk measure such as variance can be subjective because different risk measures produce different investment outcomes.

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2015
Extraction of Zero Coupon Yield Curve for Nairobi Securities Exchange: Finding the Best Parametric Model for East African Securities Markets

This paper constructs and compares several parametric zero-coupon yield curve models for the Nairobi Securities Exchange, concluding that the most suitable model for East African securities markets is one that produces a smooth, continuous, differentiable, and positive forward yield curve using CBK bond data.

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2018
Modelling Factors Affecting Probability of Loan Default: A Quantitative Analysis of the Kenyan Students' Loan

A quantitative analysis of Kenyan student loans identifies logistic and log-logistic models as the most effective for predicting loan default probabilities in datasets with significant outliers, while demonstrating how borrower characteristics can be used to model repayment risk for the Higher Education Loans Board (HELB)

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2015
Construction of Nominal Yield Curve for Nairobi Securities Exchange: An Improvement on Monotone Preserving r(t)t Interpolation Method

An improved monotone preserving r(t)tr(t)t interpolation method for the Nairobi Securities Exchange is proposed to construct nominal yield curves that maintain positivity, continuity, and differentiability at knot points, addressing limitations in existing interpolation approaches used in Kenyan financial markets.

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Publications

Resume

my Professional Story
Education
Stellenbosch University
Research Leadership Program
April - December 2021

Activities and societies:

  • Research Funding
  • Impactful Journal Paper Writing
  • Multidisciplinary and Global Collaborations
  • Industry and Government Engagement
  • Social Media Optimization for Research Output and Profile
  • Enhancement Recruitment and Retention
  • Conflict Management
  • Action Planning
  • Ethical Dilemmas
  • Career Management and Planning
KTH Royal Institute of Technology
Challenge-Driven Education (CDE), Teacher Education and Professional Development, Specific Subject Areas
Jun 2019 - Dec 2019

Activities and societies:

  • Design Thinking
  • Sustainable Development
  • Stakeholders Engagement
  • Innovation
  • Impact Planning

This course was offered by two partnering institutions: Strathmore Business School (Kenya) and KTH Royal Institute of Technology (Sweden), with funding from KTH Global Development Hub

Strathmore Business School (SBS)
Leadership Excellence Acceleration Program (LEAP), Business Administration and Management, General
2018 - 2019

Activities and societies:

  • HR for Non-HR Manager
  • Corporate Entrepreneurship and Innovation
  • Big Data Analytics Techniques
  • Data Driven Decision Making
  • Negotiation Skills
Strathmore University
Doctor of Philosophy (PhD), Financial Mathematics
May 2014 - July 2017

Supervisors:

  1. Prof. Michael Ingleby, Leeds University
  2. Prof. Silas Onyango, Strathmore University

Examiners:

  1. Prof. Nicholas Bingham, London Imperial College, formerly from Cambridge University
  2. Prof. Coenraad Lebuschagne, University of Johannesburg, formerly from Witwatersrand University
University of Cape Town
Certification: Financial Markets, Pricing and Hedging, Market Regulation
2014 - 2015
University of Nairobi
Master of Science (MSc), Actuarial Science
2011 - 2013

Activities and societies: Child Mortality Research Group - Demography

Masters in Actuarial Science: More details emerge from the units studied as listed

Maseno University
BSc Actuarial Science with Information Technology
Sep 2005 - Nov 2009
State House Girls' High School
Kenya Certificate of Secondary Education; Languages, Sciences, Accounting and Religious Education
Feb 2000 - Nov 2003

Grade 78/84 (92% A - )

Experience
Head of Mathematical Finance & Financial Engineering | Senior Lecturer of Mathematics and Actuarial Science
Strathmore University
Feb 2022 - Present

Role:

  1. Teaching, research
  2. Developing curricula for academic programs
  3. Setting up and running the Mathematical Finance Research Hub
  4. External Partnerships.

DISTINCT Achievements at Strathmore University:

  1. In 2019-2020, I was a member of a four-person ‘Visionary Team’ tasked with coming up with strategies to see Strathmore University (SU) through to 2030. It was dubbed SU@2030. My role was to come up with strategies for alternative sources of income for the university.
  2. I am in an eight-persons team that has been tasked with coming up with strategies to prepare the university for the 4th industrial revolution (4IR). My role is to come up with data collection tools for the industry, students, staff, and the administration. I am also tasked with coming up with strategies for preparing SU students for the ‘Future of Work’ (FoW).
  3. I was a member of a three-person team that was tasked with starting and launching School of Finance and Applied Economics (currently Strathmore Institute of Mathematical Sciences) in 2010. The school has grown from having 4 employees in 2010 to 70+ employees in 2022.
  4. In partnership with the Vice Chancellor of the University (Prof. John Odhiambo), I successfully developed curricula content for three Masters Programs: MSc. Mathematical Finance, Biomathematics and Statistical Sciences. I was also instrumental in the rolling out of our undergraduate programs.
  5. I brought the global council of the Institute and Faculty of Actuaries (IFoA) to Strathmore University in 2019 and forged a strong professional partnership. This led to Strathmore University having the highest number of qualified Actuaries participating in the training of our programs.
  6. I created the institute's marketing strategy and invited academics, industry experts, and government representatives to facilitate the verification and accreditation of our programs.
  7. My teaching methods have led to my units producing the highest number of start-ups.
Fulbright Scholar-in-Residence
Rose-Hulman Institute of Technology
Jul 2023 - Jun 2024

The Fulbright Program is an American scholarship program of competitive, merit-based grants for international educational exchange for scholars, professionals, scientists and artists, founded by United States Senator J. William Fulbright in 1946. Its alumni includes 43 Nobel Prize winners, 28 heads of state/government, 11 US congress personnel, 78 Pulitzer Prize winners and 1 UN secretary general.

Role:

Teaching, Research, Courses design (both executive programs and academic)

 
Strategy Consultant
Actuarial Academy of East Africa
Jan 2022 - Jan 2024

Role:

  1. Operational Strategy Formulation and implementation
  2. Stakeholder Mapping, Analysis, Engagement and Management
  3. Business Development Strategy Formulation and Implementation
  4. External Partners Engagement
  5. Training of new employees on communication, content creation and presentation, branding and stakeholders engagement
Head of Mathematical Finance & Lecturer, Mathematics and Actuarial Science
Strathmore University
June 2017 - May 2017

Role:

  1. Teaching, research, consultancy.
  2. Developing curricula for academic programs.
  3. Preparing financial plans and justifications.
  4. Marketing and undertaking market surveys.
  5. Organizing stakeholders' forums to improve our undergraduate and postgraduate programs
Assistant Lecturer
Strathmore University
Sep 2013 - May 2017

Role:

  1. Teaching, research.
  2. Preparing financial plans and justifications.
  3. Marketing strategy formulation and implementation.
Graduate Research and Teaching Assistant, Strathmore Institute of Mathematical Studies (SIMS)
Strathmore University
Aug 2011 - Jul 2013

Role:

  1. Marketing
  2. Co-teaching
  3. Conducting tutorials
  4. Research assistance to lecturers and administrators
  5. Assessment management and marking
Administrator, School of Finance and Applied Economics (currently SIMS)
Strathmore University
Aug 2011 - Jul 2013

Role:

  1. Setting up the school from scratch
  2. A member of Faculty Executive Committee which used to come up with strategies for the school
  3. Organizing all faculty events
  4. Debt collection for the university from the students
  5. Oversee timetabling for students and lecturers in consultation with Director of the school
  6. Staff welfare: ensuring all queries and concerns of staff members in the school are sorted out
  7. Student welfare (From orientation into the university till the day they graduate; admission, examinations, class attendance, Follow-up on books available at the library for the School etc.)
  8. Curriculum documents editing and compilation of resources for the undergraduate programs
  9. Marketing strategy formulation and implementation
Executive Assistant to the Director of Research
Strathmore University
Jul 2009 - Dec 2010

Role:

  1. Liaising with clients (from within and outside the university) on behalf of the director of research
  2. Organizing and dispatching of research information to the relevant clients
  3. Taking minutes of university’s Research Committee monthly meetings and communicating the information agreed upon, to other members of staff
Program Coordinator
Youth Sponsorship Program and KEPAWAE
Feb 2004 - Apr 2009

YSP and KEPAWAE are NGOs that educate children from disadvantaged families, especially from slums.

As a program coordinator, my duties included but not limited to

  1. Drafting and maintaining financial records
  2. I was responsible for students' welfare (offering and organizing tuition sessions to assist students who were weak in Mathematics and Sciences, mentoring of students and visiting them in schools)
  3. Writing baseline reports to donors
  4. Organizations' stakeholders engagement and management

Achievements

  1. I am the one that introduced the tuition program for students who were weak in Mathematics and Sciences. A year after the introduction of the tuition program, the pass rate increased to 82%, increasing the number of students admitted to public universities (where tuition fee is subsidized by the government) and reducing the number of students who had to join private universities, thus reducing YSP's expenses.
  2. I reduced students' application fraud by 78%, after engaging and then working in partnership with an investigative journalist to root out unsuitable and fake prospective students applicants.
  3. I drew up a baseline report templates to be used in writing reports to donors after recognizing shortfalls in the previous versions which lacked comparison aspects like financial performance of the funds (which would lead to analysis of improvement index) and students' performance in national examinations (which would lead to recommendations to solve any potential pitfalls)
History

Testimonials

what Customers Say
Barbara Wilson

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CEO Company
Charlie Smith

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Designer
Roy Wang

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Manager GYM
Jennifer Smith

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Jennifer Smith
CEO & Founder
Paul Freeman

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Photographer
Reviews

Latest Posts

my Articles and Advice
June 2, 2026
Follow Your Own Design Process

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June 2, 2026
Usability Secrets to Create Better Interfaces

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June 2, 2026
The Main Thing For The Designer

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Blog

Work with Me

Let’s Solve Your Mathematical Challenge
Address
Strathmore University, School of Mathematical Sciences
Project Availability
Provided upon request
Email
lucymuthoni2003@gmail.com

    Contact Me