Ruto Nominates Chris Kirubi's Son-In-Law For CBK Job

President William Ruto has nominated the late billionaire Chris Kirubi's son-in-law, Andrew Musangi, for the position of Central Bank of Kenya (CBK) chairperson.

National Assembly Speaker Moses Wetangula conveyed the message in his address in Parliament on Thursday, August 17.

"The President seeks the approval of the Parliament on the said nomination," Wetangula stated.

If approved, Musangi, who was the chairman of the Jubilee Party National Elections Board, will replace lawyer Mohammed Nyaoga whose four-year term came to an end in June 2023.

Nyaoga departed CBK alongside former governor Patrick Njoroge and his deputy Sheila M'Mbijjewe. His successor will be expected to 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, and finance among others.

PSC added that the new Chair will be responsible for the country’s monetary policy formulation and keeping under constant review, the performance of the Governor of the bank while maintaining a sound use of resources appropriated to the apex bank. 

Before the nomination, Musangi served as the chairman of the Public Procurement Oversight Authority board which he was appointed to by former President Uhuru Kenyatta in 2021.

He is an accomplished lawyer and one of the most influential figures in corporate Kenya. Kirubi, his father-in-law who passed away on June 14, 2021, was the Chair of Centum’s board and the single largest individual shareholder.

Musangi moves effortlessly between private legal practice, multi-billion dollar businesses and the corridors of power.

He married Mary Anne Kirubi in 2009 – who herself sits on the boards of at least seven publicly listed and private Kenyan companies, including Sidian Bank where Centum has significant interests.

Musangi had early in July 2021 been appointed to the board of Centum Real Estate, a subsidiary of Centum Investment Company, having a say in the parent company which is worth billions of shillings.

The University of Hull (UK)-educated lawyer was admitted as an Advocate of the High Court of Kenya in 1995, and started his firm Mukite Musangi & Company Advocates in 1998.

He is the son of Professor Richard Musangi, a scholar who became the pioneer Vice-Chancellor of Egerton University in 1987 and was in 2013 appointed Chancellor of Kabianga University by the late former President Mwai Kibaki.

A photo of Mary Kirubi and her husband Andrew Mukite. /FILE