Patrick Njoroge
Patrick Ngugi Njoroge | |
|---|---|
| Born | 1961 Murang’a, Kenya |
| Occupation(s) | Economist, banker |
| Years active | 1985–2023 |
| Known for | Governor of the Central Bank of Kenya (2015–2023) |
Patrick Ngugi Njoroge is a Kenyan economist and banker who served as the ninth governor of the Central Bank of Kenya.
Background and education
Born around 1961 in Murang’a, Kenya, Njoroge was raised by parents who were both educators, fostering his enthusiasm for knowledge.
His secondary education took place at Mang'u High School from 1973 to 1976, followed by studies at Strathmore College between 1977 and 1978. He then pursued higher education at the University of Nairobi, where he obtained a Bachelor of Arts degree in Economics in 1983, followed by a Master of Arts in Economics in 1985. Between 1987 and 1993, he earned a PhD in economics from Yale University, studying under prominent economists such as William Brainard, Jim Tobin, and Robert J. Shiller.
Career
Following his master's degree, Njoroge worked as a planning officer at Kenya’s Ministry of Planning from 1985 until 1987 and subsequently served as an economist at the Ministry of Finance between 1993 and 1994.
In 1995, he joined the International Monetary Fund (IMF), advancing from economist to senior economist roles. He was appointed IMF mission chief for Dominica during 2005–2006. From 2006 to 2012, he held the position of deputy division chief within the IMF’s Finance Department and acted as advisor to the deputy managing director from 2012 until June 2015.
Central Bank of Kenya (CBK)
On 2 June 2015, President Uhuru Kenyatta nominated Njoroge as governor of the Central Bank of Kenya. His appointment was vetted by the parliamentary committee on Finance, Trade and Planning on 17 June and subsequently ratified by the parliament of Kenya on 18 June 2015. He officially took office on 19 June 2015 and remained in the role until 19 June 2023, when Dr. Kamau Thugge succeeded him.
Under Njoroge’s leadership, CBK placed Imperial Bank under receivership on 13 October 2015. In November 2018, he was appointed by United Nations Secretary-General António Guterres to the UN Task Force on Digital Financing for the Sustainable Development Goals, co-chaired by Maria Ramos and Achim Steiner.
During the COVID-19 crisis, the CBK implemented direct cash transfers aimed at aiding financially vulnerable citizens. Njoroge emphasized the importance of financial technology (FinTech) in promoting broader financial inclusion throughout Kenya.
Other activities
- Ex-Officio Member of the Board of Governors, International Monetary Fund (IMF)
- Member of the Regional Consultative Group for Sub-Saharan Africa, Financial Stability Board (FSB)
Personal life
Njoroge practices Roman Catholicism and is a numerary member of Opus Dei. His brother is Anthony Muheria, Archbishop of the Nyeri Catholic diocese.