Trainer Details

Mr. Njuguna S. Ndung'u

Governor of the Central Bank of Kenya (2007-2015)


Prof. Njuguna Ndung’u, an Associate Professor of economics at the University of
Nairobi, Kenya, has been the Governor of the Central Bank of Kenya from March 2007
to March 2015, having completed the two terms of 4 years each as set by the law. He
has become the first Governor in Kenya to complete two terms since the law was put in
place in 1982. Prior to this appointment as Governor, he was the Director of Training at
the African Economic Research Consortium (AERC), a capacity building network in
Africa in economic policy and analytical capacity. He has taught economics at the
University of Nairobi, has worked with the International Development Research Centre
(IDRC) and at the Kenya Institute of Public Policy Research and Analysis (KIPPRA), a
government think-tank as a Principal Researcher. This is where he led the team to
develop a macro model for Kenya in 2001 and it has been used as a training tool by
most countries in eastern and southern African Region. He has been a member of
various regulatory boards in the financial sector in Kenya. He has been a member of the
National Economic and Social Council (NESC), an advisory committee for the
government and in the Kenya’s Vision 2030 Delivery Secretariat. He was the founding 
chair of the Steering Committee of the Alliance for Financial Inclusion (AFI) based in
Bangkok, Thailand from 2009 till Sept 2012, it was formed in 2009 to promote financial
inclusion in Africa, Asia and Latin America. He has also chaired of the African Mobile
Phone Financial Services Policy Initiative (AMPI), a sub-network of AFI that promotes
financial inclusion in Africa via the mobile phone financial services. He has been a
member of the Committee of Ten (C10) comprised of five African Finance Ministers and
five Central Bank Governors representing the 5 regions of Africa. This Committee,
formed during the global financial crisis, was mandated to look into ways of mitigating
the crisis through appropriate policy response; communicating and coordinating Africa’s
response and required global reforms especially in the world’s financial architecture. He
is a researcher and trainer in various fields of economics. He has published in journals
and chapters in volumes on inflation, exchange rate, economic growth and poverty
reduction. He holds a PhD in economics from Gothenburg University, Sweden, a
Bachelors and Masters of Arts in Economics from the University of Nairobi and is an
Associate Professor of Economics from the University of Nairobi. In recognition of his
role in national economic development, His Excellency the President of the Republic of
Kenya conferred the Award of First Class of Chief of the Order of the Burning Spear
(CBS) on Prof. Ndung’u in 2009.

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