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Prof. Ndungu (CBK GOVERNOR)-TO STAY OR NOT TO STAY?!?
Cde Monomotapa
#1 Posted : Tuesday, February 22, 2011 5:51:05 PM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
I say that he stays! His contract be renewed. This gentleman has kept the banking sector in check during his watch much to the advantage of us investors. Most importantly for me is the sake of continuity esp.since mobile money transfer was born under his watch and now that there are regulations being crafted, he should be granted an extension to see them through. We have to retain his adaptivness to technology even when regulations had to follow. What's your take?
Robinhood
#2 Posted : Tuesday, February 22, 2011 6:15:44 PM
Rank: Elder


Joined: 12/11/2008
Posts: 2,306
Roger that... He allowed Mpesa to grow and become a world leader. If he taken even a slightly different approach, its others who would be basking in the limelight, not Kenya
Great men are not always wise, neither do the aged understand judgement...
Cde Monomotapa
#3 Posted : Wednesday, February 23, 2011 1:56:21 AM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
I also hope that his re-appointment won't be the next source of political noise as of Friday next week!!
ProverB
#4 Posted : Wednesday, February 23, 2011 7:26:11 AM
Rank: Veteran


Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
as long as the system running and developing the current monetary policies is not tampered with..doesn't really matter who's at the helm of cbk
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
Kirika
#5 Posted : Wednesday, February 23, 2011 7:39:37 AM
Rank: Member


Joined: 1/26/2011
Posts: 211
Location: Nairobi

Well, under his watch he has managed to use the CBK rate to bring down interest rates which is good for investors and borrowers alike.

Secondly, he has played the nanny role with regard to mobile cash transfer, despite being under immense pressure from banks to snuff it out.

Lastly, during his tenure he managed to tweak the calculation of inflation rate, thus attracting more FDI into Kenya, not to mention the growing cash transfers from Kenyan's abroad.

I would vouch for a second term for him, but i fear the political circus that may play out.
VituVingiSana
#6 Posted : Wednesday, February 23, 2011 8:49:14 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,097
Location: Nairobi
These last minute re-appointments are not good for the economy! They should be a process to monitor the effectiveness. That said, I do not like politicization of the job.

We need a CBK Governor who has the independence of the Fed Chairman [or even better the president of the old Bundesbank]
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
kasheshe
#7 Posted : Wednesday, February 23, 2011 9:00:29 AM
Rank: New-farer


Joined: 8/6/2010
Posts: 26
The guy has performed well which ever angle you look at it. Macroeconomic indicators have been very stable under his watch and he has been radical in some areas, like phasing out check payments over a million bucks. The guy should stay. Why change what is working? Hopefully our politicians will think straight this time. I care less what tribe he is as long as he has something to show for his 4 years.
QD
#8 Posted : Wednesday, February 23, 2011 9:29:36 AM
Rank: Member


Joined: 8/5/2009
Posts: 597
Really i would care about the proper institutions working than the individual. on my two cents MJ takes all credit on mpesa.
The problem with the world is that the intelligent people are full of doubts while the stupid ones are full of confidence
VituVingiSana
#9 Posted : Wednesday, February 23, 2011 9:35:51 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,097
Location: Nairobi
QD wrote:
Really i would care about the proper institutions working than the individual. on my two cents MJ takes all credit on mpesa.
Well, apparently it would have been 'killed' had he not pushed for it. The technology is Vodafone's yet only really successful in Kenya. There are many others behind M-Pesa but it needed a leader.

When you think of Microsoft - you think Bill Gates [not as much Paul Allen or Steve Ballmer]

When you think of Apple - you think Steve Jobs [not Steve Wozniak]

So many examples of this sort...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Cde Monomotapa
#10 Posted : Wednesday, February 23, 2011 12:00:41 PM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
@Kasheshe, i feel u-if it ain't broke don't try fix it. It is just so that he is the man on top and hence visible in both regards-credit & dis_credit. In my books he has bookd a lot more credit. If his re-appntment is to turn political then plse brace urselves for the resurgence of noise arnd Grand Regency/Laico. Kimunya will be sucked in as well but maybe n fortunately Khalwale a.k.a Bull Fighter is no longer around! Lol!
alikujia
#11 Posted : Wednesday, February 23, 2011 2:32:04 PM
Rank: Member


Joined: 5/27/2010
Posts: 324
Location: nrb
most important is whether he's new katiba-compatible. that is assuming new katiba has its ownnew economics.
amga
#12 Posted : Wednesday, February 23, 2011 7:33:38 PM
Rank: Member


Joined: 8/16/2010
Posts: 149
Location: hapa Kenya
i second the debate why change a wheel when it has alot more miles to offer. politics aside we're better off with him than have a political appointee esp in respect to 2012. its not a fish market eh
Muthawamunene
#13 Posted : Wednesday, February 23, 2011 8:05:40 PM
Rank: Member


Joined: 1/3/2011
Posts: 264
Location: Nairobi
kenya is not th easiest of places to do business and it sure was harder before 2006 when he came along. it takes a strong and analytical mind to keep the economy cool when it should be boiling over. yes there some polies that even i myself doubted and others i still do, but overall its all good. let him finish what he started then leave bdaye. consistency is key.
aemathenge
#14 Posted : Wednesday, February 23, 2011 8:39:10 PM
Rank: Elder


Joined: 10/18/2008
Posts: 3,434
Location: Kerugoya
It has been a pleasure having you around Herr Ndung'u.

It is now time let you go.

See you around.
2012
#15 Posted : Wednesday, February 23, 2011 9:28:58 PM
Rank: Elder


Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
I like Prof Ndungu. He's confident, has delivered and I can trust his word. He reminds me of US's Greenspan. But in money matters you can't always get it right bang on all the times. So far great work Prof.

BBI will solve it
:)
Cde Monomotapa
#16 Posted : Wednesday, February 23, 2011 10:38:55 PM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
The Governor has launched the Draft Electronic Retail Transfers and Draft Electronic Money Issuers Regulations that will ensure E-Money Issuers and Payment Service Providers conduct their businesses prudently and in accordance with the provisions of the Central Bank of Kenya Act.
Download the Governor's speech
drake
#17 Posted : Thursday, February 24, 2011 1:19:49 AM
Rank: Member


Joined: 8/8/2009
Posts: 170
kasheshe wrote:
The guy has performed well which ever angle you look at it.


+1
VituVingiSana
#18 Posted : Thursday, February 24, 2011 3:27:05 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,097
Location: Nairobi
drake wrote:
kasheshe wrote:
The guy has performed well which ever angle you look at it.

+1
When has that ever been a consideration in Kenya?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Cde Monomotapa
#19 Posted : Thursday, February 24, 2011 7:00:47 AM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
VituVingiSana wrote:
drake wrote:
kasheshe wrote:
The guy has performed well which ever angle you look at it.

+1
When has that ever been a consideration in Kenya?

Sadly..I may have to concur with VVS. Nevertheless, I expect the other powers behind the power i.e our KEPSA, KAM etc to do similar lobbying as we are at higher(&cooler) levels.
Jamani
#20 Posted : Thursday, February 24, 2011 7:13:15 AM
Rank: Elder


Joined: 9/12/2006
Posts: 1,554
Cde Monomotapa wrote:
VituVingiSana wrote:
drake wrote:
kasheshe wrote:
The guy has performed well which ever angle you look at it.

+1
When has that ever been a consideration in Kenya?

Sadly..I may have to concur with VVS. Nevertheless, I expect the other powers behind the power i.e our KEPSA, KAM etc to do similar lobbying as we are at higher(&cooler) levels.


Sadly..I may have to concur with VVS. me too
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