Wednesday, March 07, 2007

New man at CBK helm

Nairobi is teeming with opinion that is dismissive of the newly appointed governor of the Central Bank, characterizing him as deficient of ‘real banking experience'.

As is compulsory in our country, a lot of the rejection of Prof. Ndung'u is hinged on the thought that the governor needed to come from another 'tribe'. Let's ignore those sentiments and focus instead on the theory that the Central Bank Governor needs to have a history in the banking industry. This line of thought by banking executives is upon close scrutiny totally baseless.

Read as Peter Ndiangui highlights the functions of the Central Bank arguing that Prof Ndung'u is well-qualified to do his job. Others argue that Pres Kibaki should have sort members of other tribes to lead CBK.