Kenya appoints Patrick Njoroge as new central bank governor

Patrick Njoroge, Governor of the Central Bank of Kenya (CBK)

Patrick Njoroge has been formally appointed as the new governor of the Central Bank of Kenya by the president after parliament approved the choice, the central bank said on its website.

President Uhuru Kenyatta also appointed Jairus Mohammed Nyaoga as the bank’s board chairman and Sheila M’Mbijjewe as the second deputy governor. “Their four-year term of office is effective from June 19, 2015,” the bank said.

The appointments mean that the next rate-setting Monetary Policy Committee meeting set for July 7 will be held with the new central bank governor in place.

Read more: UPDATE 1-Kenya appoints Njoroge as new central bank governor | Reuters

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