Dr Pratrick Njoroge takes over as CBK governor

President Uhuru Kenyatta has offcially appointed Patrick Njoroge (pictured above) as Central Bank of Kenya governor. His appointment come a week after he was endorsed by Parliament.

In a statement, Central Bank said that the President had also appointed Mr Jairus Mohammed Nyaoga as the chairman of the CBK Board of Directors and Ms Sheila M’Mbijjewe as the second deputy governor.  “Their four-year term of office is effective from June 19, 2015,” said the CBK.

Dr Njoroge, who has been an adviser to the International Monetary Fund (IMF), take over from Njuguna Ndung’u whose term ended in March.

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Mr Haron Sirima, the deputy governor, has been the acting head since Prof Njuguna’s exit.  Dr Njoroge and Ms M’Mbijjewe will now sit in the next Monetary Policy Committee (MPC) meeting slated for July 7.

The country will be looking at the MPC for policy direction following the shilling’s continued weakening against the dollar that has seen it fall to Sh99 in the last few days despite the bank raising  the base lending rate on June 9 when it held a special MPC meeting to 10% from 8.50%.

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