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{
    "id": 1284063,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1284063/?format=api",
    "text_counter": 465,
    "type": "speech",
    "speaker_name": "Sen. Tabitha Mutinda",
    "speaker_title": "",
    "speaker": null,
    "content": "Mr. Temporary Speaker, Sir, I beg to move - THAT, the Senate adopts the Joint Report of the Departmental Committee on Finance and National Planning of the National Assembly, the Standing Committee on Finance and Budget of the Senate, on the vetting of Mr. Andrew Mukite Musangi for appointment as the Chairperson of the Board of Directors of the Central Bank of Kenya, laid on the Table of the Senate on Tuesday, 19th September, 2023, and that pursuant to section 11(2A) of the Central Bank of Kenya Act and Section 8(1) of the Public Appointments (Parliamentary Approval) Act, 2011, the Senate approves the appointment of Mr. Andrew Mukite Musangi to the position of Chairperson of the Board of the Central Bank of Kenya . I am the Vice Chairperson of the Committee on Finance and Budget. We sat with our colleagues from the National Assembly Committee on Finance and National Planning to do a joint vetting of Mr. Andrew Musangi. This was guided by the Employment regulations within the Central Bank of Kenya Act. Mr. Musangi appeared before the Committee with a very vast Curriculum Vitae (CV) for himself. Mr. Musangi holds a Bachelor’s degree in law from the University of Hull in the United Kingdom (UK). Further to that, he holds a postgraduate degree in Law from the Kenya School of Law (KSL). He exhibited an experience of over 28 years from both the corporate sector in banking and different law firms in this country. His CV clearly indicates his different roles as director, proprietor, and chairperson. During our vetting process, Members were very keen to understand how he is going to undertake his role as the Chairperson of the Central Bank of Kenya (CBK). This was very key, putting in mind what our committee entails and where we are as a country in terms of matters of debt and the dollar rate. The committee was very keen and robust in thoroughly vetting Mr. Musangi. We got very convincing feedback, ranging from the strategies that he is going to put in place to ensure that he improves the policies that need to be implemented as guided by the different sections of the law so as to improve the policies that are currently set. Mr. Temporary Speaker, Sir, we questioned Mr. Musangi in regard to what time he is going to put into this new role, keeping in mind that in his CV, he had stated that he is still a director at his private firms and different companies. He clearly communicated to the committee that he has delegated the same roles to his different management teams and different firms. He is ready and willing to ensure that he puts the required time into the work that is entailed in his role as the Chairperson of CBK. At the same time, as you know, I have been very passionate and concerned about the fraudulent bank withdrawals in this country. I had a great opportunity in this platform during this vetting period to ask the incoming Chair if he is aware of these cases and if so, then what would be his strategy? I am happy to say that he clearly stated that, his parent had been a victim of fraudulent withdrawals from the bank. It is a matter that he is"
}