Kenya’s CBK boss Njoroge voted best Governor in Africa’s CBK boss Njoroge voted best Governor in Africa

Kenya Central Bank governor Patrick Njoroge who was largely unknown a year ago was voted the best governor on the continent – 2016 African Banker Awards held in Lusaka, Zambia last week.

He was rewarded for managing to navigate a tough economic climate and credited with cleaning up the banking sector in Kenya.

Dr Patrick Ngugi Njoroge is known to lead a simple life choosing to be housed in communal accommodation in Nairobi’s Loresho estate with his fellow members of Opus Dei (Latin for “work of God”), an institution of the Catholic church.

The institution teaches that everyone is called to holiness and that ordinary life is a path to sanctity. Most of its members are lay people, with secular priests under a bishop.

Dr Njoroge, who is turning out to be a man of exemplary modesty, has also turned down an office-issued, high-end smartphone, a bevy of security guards and three cars.

Central Bank governors have at their disposal a Range Rover, a Mercedes-Benz and a Volkswagen Passat.

When he was being vetted by MPs before his appointment by President Uhuru Kenyatta, Dr Njoroge was asked why he does not own property in Kenya and is still single at 54 yet his monthly salary at the International Monetary Fund was Sh3 million a month.

The awards, held annually on the fringes of the Annual Meetings of the African Development Bank, celebrate excellence in banking and finance on the African continent. This year marks the 10th anniversary of the Awards and the 2016 winners were selected from over 200 entries from across the continent.

Since their inception ten years ago, the African Banker Awards have become the pre-eminent ceremony recognising excellence in African banking.

Njoroge emerged tops for his integrity. Judges lauded him for re-establishing order in Kenya’s banking industry.

The AfDB termed him an exceptional leader. The award is given to CBK governors who successfully reform and transform the financial sectors of their countries through proper regulation and policies.

Njoroge who has taken lead role in pushing banks to lower borrowing costs, has also stepped up scrutiny of lenders to protect depositors’ interests.

Photo by courtesy

Author Description

Harrison Karemeri

Harry is an accountant, freelance writer and a biz-tech enthusiast. He is currently head of finance and managing editor at Nairobi Digest. Harry has watched John Q 13 times! Follow on twitter; @karemeryl