The nomination of Andrew Musangi as Chairperson of the Central Bank of Kenya (CBK) has been approved by the National Assembly.

President William Ruto notified Musangi's nomination to the House on August 17.

He was vetted by the National Assembly's Departmental Committee on Finance and National Planning, which met with the Senate Standing Committee on Finance and Budget.

During his vetting on Tuesday, Musangi told Parliament that he would not allow any conflict of interest and that if selected by Kenya's President, he would retain his integrity.


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The corporate lawyer, whose net worth is estimated to be Ksh.1.2 billion, told the committee that he will work to make the country's bank regulator more transparent to improve the institution's integrity and accountability.

He also claimed that he does not support interest rate caps, instead advocating for maintaining a free market economy.

The High Court lawyer also promised to work toward developing a regional currency.