Edited by
Dr Patrick Njoroge, Governor of the Central Bank of Kenya
Professor Victor Murinde, AXA Professor of Global Finance & Director of SOAS Centre for Global Finance
Published by
Oxford: Oxford University Press 2021
This volume edited by Njoroge and Murinde, published in 2021 by Oxford University Press, documents important milestones in the epic journey traversed by the Central Bank of Kenya (CBK) over the last 50 years. Also, the book puts into perspective the evolution of central banking globally and within the East African region, and contemplates future prospects and challenges.
The volume is timely, mainly because within the last 50 years the global financial landscape has shifted. Central bankers have expanded their mandates, beyond the singular focus on inflation, and consider economic growth as their other important objective. Bank regulation has moved from Basel I, to Basel II, and some countries have fully migrated to Basel III while some are still at the crossroads. 50 Years of Central Banking in Kenya captures the wide-ranging discussions on central banking, from a symposium to celebrate the 50-year anniversary on 13 September 2016 in Nairobi.
The participants at the symposium included current and former central bank governors from Kenya and the East Africa region, high-level officials from multilateral financial institutions, policy-makers, executives of commercial banks in Kenya, private-sector practitioners, civil society agents, executives and researchers from think tanks based in Kenya and the Africa region, leading academics in banking and finance, and university students.
Beyond the symposium, the volume highlights the evolution of specific functions of CBK over the last 50 years (such as monetary policy, bank regulation, and payments system), as well as developments in Kenya’s financial system which strongly relate to the functionality of CBK, such as financial innovation, the evolution of financial markets, and non-bank financial institutions in Kenya.