Patrick Ngugi Njoroge is a Kenyan economist, banker and the ninth governor of the

Central Bank of Kenya The Central Bank of Kenya (CBK) ( sw, Banki Kuu ya Kenya) is the monetary authority of Kenya. Its head office is located in Nairobi. CBK was founded by in 1966 after the dissolution of East African Currency Board (EACB). Dr. Patrick Ngugi Njoroge ...

Background and education

Njoroge was born in Kakuma, Kenya, . His father was an official in the education department and his mother was a teacher. Njoroge credits his parents involvement in education with inspiring his passion for learning. Njoroge attended Mangu High School from 1973 until 1976, for his O-Level education. From 1977 until 1978, he attended Strathmore College for his A-Level studies. He entered the

University of Nairobi The University of Nairobi (uonbi or UoN; ) is a collegiate research university based in Nairobi. It is the largest university in Kenya. Although its history as an educational institution dates back to 1956, it did not become an independent univer ...

in 1979, graduating with a

Bachelor of Arts in Economics The Bachelor of Economics (BEc or BEcon), or the "Bachelor of Applied Economics", is a bachelor's degree awarded by many universities and colleges for completion of an undergraduate program in economics, econometrics, or applied economics; the ...

in 1983 and a Master of Arts in Economics in 1985. From 1987 until 1993, he studied at

Yale University Yale University is a Private university, private research university in New Haven, Connecticut. Established in 1701 as the Collegiate School, it is the List of Colonial Colleges, third-oldest institution of higher education in the United Sta ...

, graduating with a

Doctor of Philosophy A Doctor of Philosophy (PhD, Ph.D., or DPhil; Latin: or ') is the most common degree at the highest academic level awarded following a course of study. PhDs are awarded for programs across the whole breadth of academic fields. Because it is ...

in economics. While at Yale, Njoroge studied under professors such as William Brainard,

Jim Tobin James Anthony Tobin (December 27, 1912 – May 19, 1969), known as "Abba Dabba", was a right-handed pitcher in Major League Baseball with the Pittsburgh Pirates, Boston Bees/ Braves and Detroit Tigers from 1937 to 1945. With the Boston Brav ...

, and Robert J. Shiller.

Career

Following his master's degree, he worked in Nairobi as a planning officer at the Kenyan Ministry of Planning from October 1985 until August 1987. Following his PhD studies, he worked as an economist at the Kenyan Ministry of Finance from March 1993 until December 1994. From April 1995 until October 2005, he worked at the

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster glo ...

(IMF) in

Washington, D. C. ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, Na ...

, first as an economist and later as a senior economist. From November 2005 until December 2006, he served as the IMF mission chief for Dominica. He then served as the deputy division chief, Finance Department, at the IMF, from December 2006 until December 2012, based in Washington, D. C. from December 2012 until June 2015, he served as advisor to the deputy managing director of the IMF.

Central Bank of Kenya (CBK)

He was nominated to be the governor of the Central Bank of Kenya by

Uhuru Kenyatta Uhuru Muigai Kenyatta (born 26 October 1961) is a Kenyan politician who served as the fourth president of Kenya from 2013 to 2022. Kenyatta was chosen by Daniel Arap Moi as his preferred successor, but Kenyatta was defeated by opposition le ...

, the president of Kenya, on 2 June 2015. After vetting by the parliamentary committee on Finance, Trade and Planning on 17 June 2015, he was approved by the

parliament of Kenya The Parliament of Kenya is the bicameral legislature of Kenya. It is based at Parliament Buildings in Nairobi and consists of two houses: * Senate (upper house) * The National Assembly ( lower house) See also *Politics of Kenya * List of legisl ...

on 18 June 2015. He assumed office effective 19 June 2015. On 13 October 2015 the Central Bank of Kenya under his leadership placed Imperial Bank into receivership. In November 2018,

United Nations The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and security, develop friendly relations among nations, achieve international cooperation, and be a centre for harmoniz ...

Secretary General Secretary is a title often used in organizations to indicate a person having a certain amount of authority, power, or importance in the organization. Secretaries announce important events and communicate to the organization. The term is derived ...

António Guterres António Manuel de Oliveira Guterres (, ; born 30 April 1949) is a Portuguese politician and diplomat. Since 2017, he has served as secretary-general of the United Nations, the ninth person to hold this title. A member of the Socialist Party ...

appointed Njoroge to the United Nations Task Force on Digital Financing of Sustainable Development Goals, co-chaired by

Maria Ramos Maria Ramos (born 1959) is a South African businesswoman, banker and corporate executive who has been serving the chairperson of AngloGold Ashanti since 2020. She previously served as chief executive officer (CEO) of Absa Group Limited. Prior to ...

and

Achim Steiner Achim Steiner (born 17 May 1961) is a Brazilian-born environmentalist who currently serves as the administrator of the United Nations Development Programme and chairman of United Nations Sustainable Development Group. Before joining UNDP, he w ...

. Under his leadership, the CBK issued direct benefit payments to help financially suffering Kenyans amid the

COVID-19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identi ...

. Njoroge has stated that the

financial technology Fintech, a portmanteau of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. Artificial intelligence, blockchain, cloud computing, and big data are r ...

industry (FinTech) has been a boon for financial inclusion of the general population.

Other activities

(IMF), Ex-Officio Member of the Board of Governors *

Financial Stability Board The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established after the G20 London summit in April 2009 as a successor to the Financial Stability Forum ...

(FSB), Member of the Regional Consultative Group for Sub-Saharan Africa

Personal life

Njoroge is of the

Roman Catholic Roman or Romans most often refers to: *Rome, the capital city of Italy * Ancient Rome, Roman civilization from 8th century BC to 5th century AD * Roman people, the people of ancient Rome *'' Epistle to the Romans'', shortened to ''Romans'', a let ...

faith and a numerary member of Opus Dei. He is also the brother of

Anthony Muheria Anthony Muheria (born 27 May 1963) is a Kenyan Catholic bishop who serves as Archbishop of the Archdiocese of Nyeri. He was appointed Archbishop of Nyeri on 23 April 2017. Background and priesthood Anthony Muheria was born on 27 May 1963, i ...

the Archbishop of Nyeri Catholic diocese.

References

External links

Central Bank of Kenya Homepage
{{DEFAULTSORT:Njoroge, Patrick Governors of the Central Bank of Kenya 1961 births Central Bank of Kenya people Living people Kikuyu people 20th-century Kenyan economists Kenyan Roman Catholics Opus Dei members Yale University alumni University of Nairobi alumni 21st-century Kenyan economists