Kenya’s Central Bank Governor, Dr. Patrick Njoroge, has done it again.
Dr. Njoroge has been named the Central Bank Governor of the Year for sub-Saharan Africa in the 2019 Global Markets Award.
This is the second time the Kenyan governor is winning the award, after clinching it for the first time in 2016, reinforcing his high standing among central bank governors in Africa.
“I am delighted and deeply honoured to receive this award in recognition of and testament to all the work that we have done this year. We have managed to tackle micro stability in Kenya and the transformations that have a bearing on fiscal stability,” a happy Njoroge said.
In his acceptance speech, Dr Njoroge dedicated the award to African youth and expressed gratitude to his colleagues at the Central Bank for their support.
The annual award by world leading financial journal Global Markets was presented to Dr Njoroge during a World Bank/International Monetary Fund meeting in Washington DC.
Dr. Njoroge, who was appointed in 2015, was feted for his efforts to lean up the country’s banks and vastly improved oversight over the sector. He recently led the country in unveiling of new currency notes.
“Some 120 pitches were heard in total and all contained stories of excellence. An editorial panel then decided the winners of the awards,” Global Markets said in a statement.
“Dr Njoroge has presided over a period of consolidation within the Kenyan banking sector that has helped clean up the country’s banks and vastly improved oversight over the sector. Banks have tightened their lending standards in response, thanks to the central bank’s oversight,” it added.
The governor was further praised for his efforts in keeping inflation within its target range, leading to the expansion of Kenya’s domestic capital markets as well as improving the sustainability of banks.
The award comes just three months after President Kenyatta extended his term at the helm of CBK for four more years.
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