Four new members joined the Central Bank of Kenya (CBK). The four are Dr. Benson Akong’o Ateng’, Dr. Margaret Kwengwa Chemengich, Prof. Jane Wanjiku Kabubo-Mariara and Mr. Humphrey Mugambi Muga. They were appointment on August 24, 2018 as members of the Monetary Policy Committee (MPC) of the Central Bank of Kenya.
Dr. Benson Akong’o Ateng’ served in various roles at the World Bank, and is currently the Chairman of the Department of Economics and Development Studies at the Technical University of Kenya. Previously, Dr Ateng’ served as Chairman of the Board of a local commercial bank, and therefore has exposure on banking sector operations.
Dr. Margaret Chemengich has served in various public sector positions including as the Permanent Secretary in the Ministry of Trade, Industry and Tourism, Director of Statistics at the Kenya National Bureau of Statistics (KNBS), as well as at the National Treasury. She was also Chief Executive Officer of the Institute of Economic Affairs, and served on the Board of a local commercial bank.
Prof. Jane Kabubo-Mariara is the Executive Director of the Partnership for Economic Policy. She is a long-serving professor of Economics at the University of Nairobi, and has served as Director of the School of Economics at the University of Nairobi. Prof. Mariara has also served on the Board of the Kenya National Bureau of Statistics.
Mr. Humphrey Muga is a lecturer at the School of Business and Economics at the African International University. He worked at the CBK for many years, and served in the position of Deputy Director, Financial Markets and Banking Department, as well as Deputy Director, Human Resources. He also served as a Board member of the Capital Markets Authority.
A statement from CBK said that the new Members bring on board extensive experience in economic policy and banking sector matters, and will therefore enhance the MPC’s role in formulating monetary policy.