The National Assembly has approved the appointment of Andrew Mukite Musangi as the new Chairperson of the Board of Central Bank of Kenya (CBK).
Musangi was nominated by President William Ruto to take over the position, following the exit of Mohammed Nyaoga whose tenure at the apex bank ended on June 17th.
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Musangi is an advocate of the High Court and a senior consultant at LJA Associated LLP, a law firm that specializes in financial services. He is also the chairman of the board at the Public Procurement Regulatory Authority and a non-executive director at Centum Investments, a listed company.
He has previously served as the chairman of the Law Society of Kenya, Rift Valley Branch, and as a council member of the Nakuru Business Association.
During his vetting by the Finance & National Planning Committee and the Senate Standing Committee on Finance and Budget, Musangi outlined his vision for the CBK. He said he will ensure proper governance at the central bank, support the issuance of the first CBK-backed digital currency, enhance fraud investigation unit at commercial banks to safeguard customer deposits, and champion for the first East Africa Common Currency.
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