President William Ruto on Thursday appointed Andrew Mukite Musangi as the Chair of the Central Bank of Kenya (CBK) Board of Directors.
National Assembly Speaker Moses Wetangula conveyed the message in his address in Parliament.
"The President seeks the approval of the Parliament on the said nomination," Wetangula stated.
If approved, Musangi will replace lawyer Mohammed Nyaoga whose four-year term came to an end in June 2023. He will also serve for four years with the possibility of reappointment based on performance.
The Public Service Commission (PSC), advertised the job in late May, seeking a candidate with 10 years in the field of economics, banking, or related experience in the financial field.
PSC added that the new Chair will be responsible for the country’s monetary policy formulation. The chair will also be tasked with monitoring the performance of the CBK Governor while ensuring prudent use of resources allocated to CBK.
A lawyer by profession and a senior consultant at LJA Associates, Musangi has also held positions in different boards, including serving as the Chairperson of the Public Procurement Oversight Authority.
Musangi got his Law Degree from the University of Hull (UK) in 1993 and was admitted to the Bar in 1995.
In the December of 1998, Mukite established his independent practice, Mukite Musangi & Company Advocates (MMC), with a predominant focus on Commercial and Corporate Law.
As a legal practitioner, his specialized areas encompass Dispute Resolution, Banking and Finance Law, Conveyancing and Real Estate, Corporate and Commercial Law, Intellectual Property, Debt Recovery, Receivership, Bankruptcy, Insolvency, Employment, and Tax.
Noteworthy is his pivotal role as the Chairperson of the Jubilee National Executive Board in 2017, wherein Musangi played a significant role in the reelection of former President Uhuru Kenyatta.
In a personal capacity, Musangi is wedded to Kirubi's sole daughter, and the pair has kept a low public profile.
