Markets & Finance

PSC shortlists five to battle out for Central Bank governor position

governors

Current deputy CBK deputy governor, Dr Haron Sirima (left); the Economic Affairs Director at Treasury, Dr Geoffrey Ngungi Mwau (right); and former Planning permanent secretary and one time CBK deputy governor Dr Edward Sambili are among five preferred candidates for CBK top job. PHOTOS | FILE

Veterans with long experience in public finance management dominate the race to replace retired Central Bank of Kenya governor, Njuguna Ndung’u even as the Public Service Commission (PSC) targeted to fill the influential slot by May.

A shortlist by the PSC showed that current deputy CBK deputy governor, Dr Haron Sirima; the Economic Affairs Director at Treasury, Dr Geoffrey Ngungi Mwau; and former Planning permanent secretary and one time CBK deputy governor Dr Edward Sambili are among five preferred candidates to replace Prof Ndung’u who stepped down on March 3 after serving the maximum of two four-year terms.

Dr Patrick Ngugi Njoroge and Dr Peninah Wanjira Kariuki have also made it to the shortlist and will battle it out with the three veterans when the final interviews are held on April 7.

The race for the position of CBK governor attracted 22 candidates including Dr Rose Wanjiru Ngugi, a consultant with links to the IMF where she works as an advisor on policy and engagement with member countries, Dr John Hongo Randa, a senior economist at the World Bank’s Nairobi office and Dr Chris Kiptoo, the Kenya country director of TradeMark East Africa (TMEA).

The names of the three top candidates will then be forwarded by the PSC to President Uhuru Kenyatta who will recommend one of them for approval by Parliament and appointment as the next CBK governor.

The PSC said the search for a deputy CBK governor would however take longer after 42 applicants failed to impress the selection panel.

“The position of deputy governor did not attract adequate applicants and has therefore been re-advertised,” PSC said and set April 9 as the deadline for applications.

The applicants for the CBK deputy governor position included Ms Rose Detho who is the current director, Strategic Management Department at CBK and Sheila Mmbijjewe who formerly sat in the influential CBK Monetary Policy Committee (MPC).

The position of CBK chairman attracted eight applicants with only four making it to the shortlist ahead of final interviews next.

READ: CBK to get powerful chair raising risk of turf wars

Dr Benard Mbui Wagacha, who is the outgoing CBK chairman and doubling up as President Uhuru Kenyatta’s economic affairs advisor made it to the shortlist of new CBK chairman alongside veteran lawyer Jairus Mohammed Nyaoga.

Other in the race to become the new CBK chairman are Dr Benson Akong’o Ateng’ who is the current chairman of Consolidated Bank of Kenya and Mr Nicholas Bartuiyot Korir who presently is on secondment to Comesa Monetary Institute from Kenya School of Monetary Studies which he headed.