The Governor of the Central Bank of Kenya (CBK), Patrick Njoroge, has won the sub-Saharan Africa Central Bank Governor of The Year award in recognition of his efforts to curb inflation, the cleaning up of the banking sector as well as his drive to pursue policies of openness and transparency.
The soft spoken but forthright Njoroge has won rare praise from major stakeholders for steering the banking sector transparently. In the middle of this year, Njoroge was in the midst of a crisis as Kenyan banks appeared to be headed down the drain with banks such as Chase Bank closing its doors.
Having served at the International Monetary Fund (IMF), he not only helped prevent other banks from going down the slippery road but equally brought Chase Bank back to its feet.
Njoroge’s efforts were recognized at the ongoing IMF-World Bank annual meetings taking place in Washington DC where he was named Central Bank Governor of the year for sub-Saharan Africa for his efforts to curb inflation at a time when Kenya was staring at unpredictable inflation rates.
Njoroge has been advocating tighter regulations of the banking sector which has been accused of constantly introducing oppressive interest rates for loans and mortgages. While receiving the award over the weekend, Njoroge was praised for his stewardship.
Njoroge’s said the award is a validation of the efforts by the CBK in a in a difficult environment. In May this year, the Governor received the Central Bank Governor of the Year award from the African Development Bank.
Source: NAM NEWS NETWORK.