Kenya Reappoints Central Bank Governor

Dr Patrick Njoroge has been reappointed as central bank governor for a second four-year term. The decision was taken by President Uhuru Kenyatta, who also named Sheila M’Mbijjewe as deputy governor for a second term.

Their second terms will commence June 18 and will be their final terms in office. Njoroge has been credited will helping stabilise the Kenyan shilling. He also received public praise for rejecting a lavish home and top of the range car, instead opting to take a pay cut from his previous job.

Commenting on his reappointment, chief economist for Africa and the Middle East at Standard Chartered Bank Razia Khan stated, “Governor Njoroge’s reappointment will be seen as allowing for continuity, which will be especially important from a policy perspective.”

Dr Njoroge is a Yale Univeristy economist who previously worked at the IMF offices in Washington DC. He is known as “The Monk” as a result of his high moral standing and Catholic faith.