CBK governor feted at regional banking awards

Central Bank of Kenya (CBK) governor Patrick Njoroge has been crowned the 2016 Central Bank Governor of the year at the African Banker Awards held during the African Development Bank (AfDB) annual meeting in Lusaka, Zambia.

He was lauded for his efforts in cleaning up Kenya's financial sector.

Dr Njoroge, who became governor of the CBK in June last year, dedicated the award to the youth of Africa.

Since taking over, the reign of the CBK governor has been marked by aggressive supervision of Kenya's commercial banks.

This has resulted in the collapse of three banks – namely Imperial Bank, Dubai Bank and Chase Bank. Chase Bank was however re-opened on April 27, just three weeks after being closed down.

Last year, Dr Njoroge said that 2016 would be a year of transition whereby the regulator would improve supervision.

The AfDB has been holding its annual general meeting in the Zambian capital since Monday this week.