Njoroge named best Central Bank Governor in Sub Saharan Africa

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Central BanK Governor Patrick Njoroge
CBK Governor Patrick Njoroge. PHOTO/COURTESY

Central Bank of Kenya (CBK) Governor Patrick Njoroge has been named the Central Bank Governor of the Year for Sub-Saharan Africa at the 2019 Global Markets Awards.

This is the second time that the CBK Governor has received this recognized after having been feted for the first time in 2016. The Global Markets Award is an annual event by GlobalMarkets magazine, a world-leading financial journal and that recognizes exemplary individual effort by CBK managers across the world.

The governor clinched the award for his efforts to curb inflation, clean-up and improve the banking sector and for helping the expansion of Kenya’s domestic capital markets.

”Njoroge has presided over a period of consolidation within the Kenyan banking sector that has helped clean up the country’s banks and vastly improve oversight over the sector. Banks have tightened their lending standards in response, thanks to the central bank’s oversight,” GlobalMarkets said.

Dr Njoroge dedicated his award to the youth of Africa saying:

“I would, therefore, want to dedicate this award to the youth of Africa who obviously need a lot more opportunities and which our actions collectively will provide for their benefits.”

Dr Njoroge also recognized the work done by CBK staff, and pointed to the ongoing work in support of the innovation and green finance.

He was recently re-appointed as governor for the next four years and he has been on the forefront of fighting for the repeal of the interest capping law that was introduced in his early days in office in 2016.

Some of the major milestones that have been achieved during his reign and especially this year include the issuance of the first green bond and the demonetization of the old 1000 notes with the aim of curbing illicit financial flows, money laundering and terrorism financing.

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