After the Public Service Commission (PSC) began the hiring process for Patrick Njoroge's replacement, the competition to replace him has already started.
After the Public Service Commission (PSC) began the hiring process for Patrick Njoroge's replacement, the competition to follow him has already started. In addition, the PSC is looking to hire a new CBK deputy governor to take Sheila M'Mbijjewe's position.
Dr. Njoroge and Ms. M'Mbijjewe's eight-year terms are scheduled to expire in June, which puts the competition to fill their influential positions just two months away.
PSC also states that as a result, the Public Service Commission invites applications from suitably qualified individuals for the positions of Governor and Central Bank of Kenya's Deputy Governor.
The Public Service Commission is currently taking applications from such individuals. This is by Article 231 of the 2010 Kenyan Constitution and Sections 13-15 of Chapter 491 of the Central Bank of Kenya Act.
Since June 2015, Ms. M'Mbijjewe has been the sole deputy governor. This occurred after the CBK board declined to extend Haron Sirima's four-year tenure. According to the CBK Act, the CBK must have two deputy governors who each have a renewable four-year term once.
Susan Koech, appointed this month as the CBK's deputy governor by President William Ruto, will work alongside Ms. M'Mbijjewe's successor. Dr. Njoroge was named governor on June 26, 2015, and held the position for four years before former President Uhuru Kenyatta granted him a second term in June 2019.
Amid a currency crisis and inflationary threats, the departing CBK governor—a former International Monetary Fund adviser—took office. Unfortunately, Dr. Njoroge will leave office under identical conditions, with inflation at a five-year high, Kenya's currency continuing its record-breaking daily decline against the US dollar, and an acute dollar shortage impeding the ability of importers and significant foreign exchange spenders to conduct business.
PSC stated that to be appointed to the position of Governor of the Central Bank of Kenya. The candidate should have over ten (10) years of senior management experience in economics, banking, finance, law, or other relevant areas to the functions of the Central Bank.
The Kenya Kwanza government is scrambling to fill openings at the top of strategic State corporations in vital economic sectors essential to President William Ruto's economic agenda. One of the dozens of lucrative positions up for grabs at top parastatals is the position of governor of the Central Bank of Kenya.
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