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NAIROBI: The nomination of Patrick N. Njoroge to the position of Central Bank of Kenya Governor is groundbreaking. For the first time, the country is witnessing an open and competitive process where candidates went through rigorous selection and an interview to replace one of the most important person in the economy.
Parliament will vet President Uhuru Kenyatta's nominee after which he can take up the role held previously by Njuguna Ndung'u who retired early this year. Hopefully, his nomination will reassure the money markets in the wake of the shilling's precipitous drop in the last month. Currently is trading at Sh96 to the dollar.
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