Kenya’s CBK Governor recognised for streamlining banks

May 26, 2016
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Njoroge has also successfully reformed and transformed the financial sector, through proper regulation and policies, as well as created a stable and predictable environment for investment and growth/FILE
Njoroge has also successfully reformed and transformed the financial sector, through proper regulation and policies, as well as created a stable and predictable environment for investment and growth/FILE

, NAIROBI, Kenya, May 26 – Since taking over as the Governor of the Central Bank of Kenya barely a year ago, Patrick Ngugi Njoroge’s work has seen the banking sector ruffled.

At least three banks have been placed under receivership with more having to relook at their finances before announcing profits and losses.

Njoroge has also successfully reformed and transformed the financial sector, through proper regulation and policies, as well as created a stable and predictable environment for investment and growth.

His actions saw him scoop the African Central Bank Governor of the year Award at the 51st Annual meeting of the African Development Bank (AfDB) in Lusaka, Zambia.

He honoured with the award for his integrity, strong values and for providing stability in what has been a volatile economic environment.

AfDB noted that Governor Njoroge had re-established order as he sanitizes the banking sector in his country and called him an exceptional leader.

This was the 10th edition of the awards and took place during the AfDB annual meeting.

The award comes at a time when the governor has admitted that the CBK should have stepped in sooner to half the collapse of these lenders in the past nine months

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