President William Ruto on Thursday, August 17 nominated Lawyer Andrew Musangi as the new Central Bank of Kenya Chairperson.
According to a statement by National Assembly Speaker Moses Wetangula, Musangi’s name was forwarded to the Finance Committee for vetting.
If approved, Musangi will replace Mohammed Nyaoga who left office after serving his second and final term
The Board of Directors provides oversight of the Bank’s functions by formulating policies other than the formulation of monetary policy and reviewing performance.
The Board comprises eleven members consisting of the Chairman, the Governor, the Permanent Secretary to the National Treasury and eight non-executive directors appointed by the President.
Further, Musangi was selected from a list of six applicants including: Abdikadir Aden, John Konchellah, James Wahome, Thomas Mwadeghu, and James Lopoyetum.
Musangi Education
In 1993, Musangi graduated with a Bachelor of Laws (LLB) Degree from the University of Hull (UK).
Further, Musangi was admitted to the Bar in Kenya in 1995 and has been actively engaged in legal practice for the last 28 years.
In addition, he established the Mukite Musangi and Company Advocates (MMC) in December 1998 where he served as the Managing Partner.
Also Read: Where Are They Now? 4 Ex-CBK Governors and What They’re Doing
Legal Career
In his career, Musangi is focuses on corporate and commercial law.
Further, his areas of practice include Mergers and Acquisitions, Debt Recovery and Restructuring; Securities, Insurance litigation; Employment and Labour law and Commercial Arbitration.
Also, he focuses on Intellectual Property, Public Procurement; Public Private Partnerships; Conveyancing and Company law.
He has extensive corporate experience, having served as a strategic adviser to several corporate clients, both local and multinational.
In 2021, Musangi took up seats on the boards of Centum Real Estate (Centum RE) as well as its parent company Centum Investment.
The late Chris Kirubi was the single largest individual shareholder at the firm and Musangi managed more than USD $3 billion.
Also, he serves as the Chairman of the Public Procurement Regulatory Board.
Also Read: World Bank Freezes Loans to Uganda Because of Anti-Gay Laws
Family
Andrew Musangi is the son of the late educationist Prof Richard Musangi.
Prof Richard died in 2021, aged eighty-seven, during that time, he was serving as the Chancellor of Egerton University.
His father also served as Vice Chancellor of the institution.
Musangi got engaged to Mary Ann Kirubi in 2009.
Since then, the couple has in recent years taken up prominent roles in the management of the vast Chris Kirubi empire.
This has included major positions in Kirubi’s companies or where he holds shares, including Centum Investment.
