The Governor of Central Bank of Kenya Patrick Njoroge has been named the Central Bank Governor of the Year for Sub-Saharan Africa.

The annual award by GlobalMarkets magazine recognises exemplary individual effort by CBK managers across the world.

Njoroge was awarded for improvements in the banking sector in Kenya during his tenure and for helping the expansion of Kenya’s domestic capital markets.

”Njoroge has presided over a period of consolidation within the Kenyan banking sector that has helped clean up the country’s banks and vastly improve oversight over the sector. Banks have tightened their lending standards in response, thanks to the central bank’s oversight,” GlobalMarkets said.

In a statement to media houses, the apex bank said the award reinforces Njoroge’s high acclaim amongst central bank managers in the continent and globally, having scooped the same award in 2016.

While accepting the award, Njoroge recognised the work done by CBK staff, and pointed to the ongoing work in support of the innovation and green finance.

He dedicated the award to the youth of Africa.

Njoroge is serving his second term as CBK governor, having been reappointed by President Uhuru Kenyatta in June for another period of four years.

He has been on the forefront of fighting for the repeal of the interest capping law that was introduced in his early days in office in 2016.