Kenya: central bank governor Njoroge: Calling it as he sees it

Patrick Njoroge has spent much of his career outside Kenya, mostly in Washington at the IMF as a senior economist. Two decades in that role took him around the world, occasionally as its ambassador, more often in a team of firemen fixing damaged economies. As for central banks, he has met and advised many. “I know them all,” Njoroge says, his eyes brightening. “I can tell you every single governor in the world, just about; I’ve pretty much met them all.” He says the CBK is a good central bank “relative to our peers in East Africa.” But that is not enough for Njoroge. “We are thinking [we should be] world-class. “My legacy plan is very simple. What I want is a strong, world-class central bank in a vibrant financial sector, that’s my vision for the my-work-is-done moment. Then I can fade into the sunset,” he says. “But it’s more than just practices, it’s bank supervision, robust systems, internal procedures, the way we relate, the way we communicate, all those things should be world-class, our people too, transparency is essential….continued