Thursday, July 25, 2024

Njuguna Ndungu’s rich education background, top positions held before joining Treasury

National Treasury and Planning Cabinet Secretary Prof Njuguna Ndung’u is one of the “big men” in President William Ruto’s government.

Njuguna was appointed to the position by President William Ruto on Tuesday, September 27, 2022, after an eight-year stint at the Central Bank of Kenya (CBK).

A look at his career profile reveals that the economist held various stop positions before assuming his roles at the CBK and National Treasury.

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Born in Kandara in Murang’s county in 1960, Njuguna pursued Economics at the University of Nairobi, earning both a Bachelor of Arts in Economics and a Master of Arts in Economics from the same institution.

He also holds a PhD in Economics from the University of Gothenburg in Sweden. His expertise earned him slots in various organizations before climbing the ranks to become the CBK governor.

Among the positions he held include as the director of training at the African Economic Research Consortium.

NCBA

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The Consortium is a capacity-building institution that informs economic policies in Sub-Saharan Africa.

The professor has also lectured on advanced Economics theory and Econometrics at the University of Nairobi as an associate professor of Economics before his nomination to the Ministry.

NCBA

Additionally, Njuguna has worked as a regional programme specialist for the Eastern and Southern Africa Regional Office, as Principal Researcher at the International Development Research Centre (IDRC), and at the Kenya Institute of Public Policy Research and Analysis (KIPPRA).

He is also involved in various advisory roles, serving as a member of the Brookings Africa Growth Initiative (AGI) a distinguished advisory group, and a Member of the Advisory Committee of the Alliance for Financial Inclusion.

He has published articles in international journals as well as chapters in various books on economic policy issues, inflation, interest rate and exchange rate issues, financial management as well as on employment and labour market issues.

During his two four-year term as the CBK Governor (between 2007 and 2015), Njuguna facilitated the entry of mobile money into Kenya’s financial sector despite opposition from commercial banks, a move that has enhanced financial access in the country.

During his vetting, he disclosed that he is worth Ksh950 million.

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