• He has fond memories of his posting to Jamaica where he danced to reggae and one of his proudest achievements was being instrumental in arranging 100% debt relief for Liberia.
• His worst memory of studies at the University of Nairobi is when they were caught up in the August 2, 1982, coup attempt
Central Bank of Kenya Governor Patrick Njoroge speaks softly and slowly, carefully measuring his words just like the economist he is — at times turning philosophical.
As we settle down for an interview at the heavily guarded fort-like CBK headquarters, we explain our mission is to unravel the other Njoroge, his life, challenges, concerns and upbringing, beyond his high office.
A smile lights up his face, then he jokingly says, “I equally don’t know the Njoroge you're looking for. Victor (Star photographer on this assignment), when you find him, please let me know.”
Unlike other state CEOs who splash millions on their offices, Njoroge’s space is modestly furnished with a few paintings on the walls. He rejected the grand house that comes with his job. He also rejected bodyguards but finally was persuaded to accept one. His suits are well-tailored but not from Savile Row.
Gradually, the governor opens up. He abhors sloppiness, such as memos with typos and the wrong fonts. One must have an interest in whatever he or she does and not see it as a task or a chore, he says.
Njoroge believes in respecting others, even those he doesn't agree with. He says his nephews and nieces coaxed him into being a Manchester United fan, which he regrets, and narrates how a university loan he had long ago settled almost cost him the CBK job.
PRIVILEGED BACKGROUND?
He ponders. “All of us live in a privileged setting, only we don’t know or acknowledge it. Did I ever miss a meal? No. My parents were professionals — dad in the government education system, mom a primary school headmistress. In a sense, we never lacked.”
He turns philosophical. “If you think you’re going through a very hard time, there're others worse off and you’ll see you’re actually blessed in many ways. The question is: Do you accept or know it?”
They had a black-and-white TV with only one station, Voice of Kenya, open from 5pm to 11pm. His favourite programme was Football Made in Germany. He doesn't care about football these days, but he loves athletics, especially long-distance race closely following Eliud Kipchoge, Vivian Cheruiyot and Brigit Koskei.
Njoroge himself runs and jogs in Karura Forest; he also runs in Nairobi races.
FAITH
His faith and lifestyle dominated vetting by MPs. He is celibate and belongs to the conservative institution of the Catholic Church known as Opus Dei, meaning Work of God. Members support charity and live frugally.
Njoroge says every person should be viewed as a whole, not parts. “My view on faith is that you can’t separate me into portions — faith, academics and friends. It doesn’t work that way.”
His faith has helped him in many ways and shone light on different areas. He quotes Irish poet and playwright Oscar Wilde and the value of difficulties and how faith can promote understanding. He cites the poem Invictus by William Ernest Henly who speaks of being the master of your fate and the captain of your soul.
The governor says youth have great potential and just need the right role models. He feels closer to youth because they are more expressive and said, "If I can make a difference in their lives, it's worth it.”
Despite his busy schedule, he often spares time to bond with and mentor young people.
Njoroge tweets but says the vulgar language used on social media sends the wrong message.
READING
He is an avid reader and his love of reading dates back to childhood. It has been his main source of entertainment, solace and salvation.
“Reading opens your mind and is much more enriching than other things. It doesn’t make sense to spend hours on other things without opening a page ... Books are where I go, reading is how my mind rests," he says.
Over Christmas, Njoroge plans to read as many books as he can, hang around with family and relatives and “just chill”.
He rarely listens to music. When he does, he’s not choosy. “I’m quite indisciplined when it comes to music and reading. It’s the only part of my life with no rules,” he says.
Njoroge joined Mangu High School between 1973 and 1976 for his O level, and Strathmore School for his A level (1977-1978). Despite a penchant for Maths, Physics and Chemistry, he ended up in Economics at the University of Nairobi. He was one of the youngest students.
Image: VICTOR IMBOTO
UNIVERSITY
Student riots and demonstrations, leading to long closures, spoiled his appreciation of undergraduate studies (1979 to 1983). “My expectations were high but it was a difficult period. Within a month of joining, we rioted and closed. This characterised my time at university.”
President Daniel Moi cracked down on perceived dissidents, including students and dons.
In his third year, UoN closed. Students had to report to their rural chiefs biweekly — treatment like that of a criminal on parole.
“That was a turning point ... It was a new low in regard to self-esteem as a university student,” he says.
Chiefs could keep them waiting the whole day just to prove they were powerful. “At times, just to puncture your self-esteem further, the chief gave you menial jobs like cutting grass or sprucing up the compound.”
His other low moment was on August 2, 1982, following the coup attempt. “This was a day of infamy," he recalls.
It was a month to exams. He awoke to gunfire, then retreated indoors. “It was tough... War is bad,” he says, adding he was lucky as he lived off-campus.
Several students in hostels died, many others were arrested. “We had become connected and it was quite hard... Our lives were separated violently," Njoroge recollects.
Still, he got to know people who are “now significant members of society”. His lecturers who fled Kenya included Prof Ngugi wa Thiong’o and Dr Micere Mugo. He also remembers Kisumu Governor Anyang’ Nyong’o, who lectured about politics and Plato.
Graduate studies were different and he remembers them fondly. “I went straight into my master's [1985]. It was much more challenging. We started as planned and ended as planned, no break, no rioting."
Njoroge delved deeper into economics. Upon graduation, he was employed in the Finance and Planning ministry as an economist.
A BRIBE
“I’ve always had a sense of what I wanted to do… work on policy issues and the best place was the Ministry of Finance, so I ended up at Treasury.”
He estimates his starting salary was Sh1,500 — money some people today spend on lunch at an average Nairobi restaurant.
With other freshly employed graduates, he experienced his first subtle demand for a bribe but didn't know it.
A ‘settlement allowance’ due to them upon joining the civil service was never to be. They were taken in circles.
“It was substantial, no one really told us about it until two weeks to the deadline. When we asked, we were told claim forms were not available.”
They chased the forms until the deadline lapsed. It dawned on them §they needed to facilitate someone. “Those responsible didn’t indicate they wanted a bribe. At times if you don’t understand the language, no matter how loud people shout, you won’t understand.”
After a short stint at the Treasury, he went to Yale for his doctorate. He describes that time in the US as exciting and challenging.
CULTURE SHOCK, RACISM?
“No time, you’re going from one day to the next as fast as you can. It’s work.... I don’t think I’ve ever been pushed so hard in my life as a student. Five very exciting years, I learnt a lot.”
His return to the Treasury was seen by many friends and colleagues as madness. It was the end of the Goldenberg Scandal. Kenya had lost about Sh60.6 billion (at the current exchange rate) in a fake gold export scheme.
“That was a big thing. We wouldn’t be where we are today if not for Goldenberg. There has never been a bigger scam. Inflation shot up and banks became gateways of fraud.”
Njoroge describes it as a multi-headed monster but says unlike today, people took responsibility, though there might have been no indictments. The country is still paying the price of Goldenberg, he says.
Despite a commission of inquiry and long-running court cases, to date, no one has been found guilty.
“Today we talk about corruption but we’ve in a sense disinfected it.”
REGGAE
Njoroge adds there is a lot of fascination with corruption culprits earning fancy titles like ‘Flamboyant Businessman’.
But Treasury was not sufficiently challenging. He landed an IMF job in 1995, rising to become an adviser to the Deputy Director from 2012 to 2015.
His passion is to deliver the best on any assignment.
It was “the apex of an economist’s career”. He helped develop and support more than 150 economies. The one mission that gives him especially fond memories was Jamaica where he danced to reggae. “Jamaica was a milestone, very exciting," he recalls.
Njoroge says the IMF often caricatured by critics is far different from the one he served. “I had no problem with its specific policies and how things are done. People only want to see the harsh colours of black and white, but there’s a lot of grey.”
LIBERIAN DEBT RELIEF
High points included working with the team handling the Asian financial crisis in 1998. It was the first major global financial crisis, Njoroge says, and it hit countries like Thailand, Korea, Indonesia and Singapore, which later made strong comebacks.
He also cites the Lehman Crisis in 2008, history's biggest corporate failure. Lehman Brothers crashed into bankruptcy, sending the global financial system to near collapse.
Njoroge is very proud of his work in Liberia debt relief, 100 per cent forgiveness. "I worked hard and left my signature on every document.”
The CBK post fell vacant when Prof Njuguna Ndungu’s tenure expired in 2015. Njoroge gave it a shot. Suddenly, the issue of his loan for undergraduate studies re-emerged. The job required clearance by the Higher Education Loans Board. He doesn't remember how much he received but it was good money.
“I had paid everything and got a thank you letter from the Ministry of Education, but 20 years later when applying for governor job, I was told I owed some money.”
He had a choice — pay up, or refuse and see his application come to naught. He chose to pay and now urges anyone with a Helb loan to pay up so others can benefit. He regrets that fresh graduates are in a dilemma as jobs are no longer easy to get.
“I paid because I had a job, but a lot of people are jobless and that makes it complicated... that’s not to say they should not pay,” he says.
As for the CBK, Njoroge admits there are always attempts to influence their operations but cautions institutions to stick to their mandates. “The classic problem is the Treasury trying to take over CBK, encroaching on our mandate.”
He cites occasions when CBK differed with the ‘Old Treasury’ and he was never shy about presenting his views, but not necessarily in public.
MARATHON JOURNEY
Njoroge relishes the ‘New Treasury's’ approach to its mandate, describing the team as focussed and credible. He says that other seats of power, however, especially the National Assembly, are the biggest concern.
Njoroge reminds MPs to legislate within constitutional parameters. “Nobody has carte blanche,” he says, citing the Anti-Money Laundering Bill and the interest rate cap in which “the cure earlier offered [the cap] was worse than the disease.”
There's progress, he says, but likens the journey to a marathon, which must be finished and finished strong. “We’re anxious to do more to make Kenya the best not only in Africa but also on a par with world financial centres like Singapore and the UK.”
His passion is to deliver the best on any assignment.
The governor prides himself on enhanced bank regulations and supervision, increased financial inclusion through more banking opportunities and voluntary consolidation of banks, among other strides. He is happy CBK deposits have increased from Sh5 billion to Sh35 billion in paid-up capital.
Njoroge is equally pleased with the receivership of collapsed banks, including Imperial and Chase, but remains concerned at the slow pace of the Charterhouse wind-up.
“Done well? Yes, but we can’t rest on our laurels and must feel the urgency and accelerate. We want to be like Kipchoge,” he concludes.
As we part, we hoped that both we and he discovered something of the other Njoroge. It's clear he is far different from the impeccably suited man who talks numbers, interest rates, policy and regulation.