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Nd'ung'u rated the worst central banker in Africa in 2011
Rank: Veteran Joined: 2/10/2010 Posts: 1,001 Location: River Road
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jawz1 wrote:CBK to blame for shilling woes, says Cheserem
Mr Cheserem rapped the Governor for his remark when the crisis began, that the CBK will not intervene to tame the depreciation. “That was a very unfortunate statement. It encouraged speculators. The Central Bank should not say whether or not it will intervene,” he told Mr Keynan’s committee. “There are two rules at Central Bank. Rule number one is, don’t tell the market your intentions; rule number two is, refer to rule number one.” End quote. Enough said!!! Link: Cheserem opinion on CBK Micah Cheserem presided over the lost decade in the 1990's(when govt believed jua kali sector was going to make kenya a newly industrialized country by 2020) here is a man who believed in high interest rates 40%, a darling of the IMF whose policies ruined so many local businesses, killed our industrial and manufacturing base and forced kenyans into diaspora. When he says MPC should be made of CBK economists (read his buddy Terry Ryan)he is just in dreamland thinking he is cleaning up goldenberg cash. Prof Nugu oh sorry Ndungu should not listen to these two guys they belong to the past this is the future http://www.businessdaily...6/-/v0y9bez/-/index.html
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Rank: Member Joined: 4/2/2011 Posts: 629 Location: Nai
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mkonomtupu wrote:[quote=jawz1] CBK to blame for shilling woes, says Cheserem
Mr Cheserem rapped the Governor for his remark when the crisis began, that the CBK will not intervene to tame the depreciation. “That was a very unfortunate statement. It encouraged speculators. The Central Bank should not say whether or not it will intervene,” he told Mr Keynan’s committee. “There are two rules at Central Bank. Rule number one is, don’t tell the market your intentions; rule number two is, refer to rule number one.” End quote. Enough said!!! Link: Cheserem opinion on CBK Micah Cheserem presided over the lost decade in the 1990's(when govt believed jua kali sector was going to make kenya a newly industrialized country by 2020) here is a man who believed in high interest rates 40%, a darling of the IMF whose policies ruined so many local businesses, killed our industrial and manufacturing base and forced kenyans into diaspora. When he says MPC should be made of CBK economists (read his buddy Terry Ryan)he is just in dreamland thinking he is cleaning up goldenberg cash. Prof Nugu oh sorry Ndungu should not listen to these two guys they belong to the past this is the future http://www.businessdaily.../-/v0y9bez/-/index.html[/quote] Mkonomtupu are you sure that Cheserem was the governor when the rates were at 40% or even during goldenberg? I have my doubts regarding that. FYI Cheserem did a rather good job of controlling inflation during his term as CBK governor. He resisted a lot of government interference hence the reason Kibaki keeps on apppointing him to head this or that body. He also tried to reign in creative accounting by banks which seems to be taking root . See link http://findarticles.com/...27/is_n215/ai_n28676582/
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Rank: Member Joined: 4/2/2011 Posts: 629 Location: Nai
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Mkonomtupu further proof that you are wrong from the mars group which can be considered an independent source http://www.marsgroupkeny...e6decbcfa52bc248c7f6bb1a
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Rank: Veteran Joined: 2/10/2010 Posts: 1,001 Location: River Road
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accelriskconsult, Cheserem term in office 1993-2001 The t-bill weekly results are shown here http://www.centralbank.g...bills/WeeklyBills91.aspx
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Rank: Member Joined: 4/2/2011 Posts: 629 Location: Nai
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[quote=mkonomtupu]accelriskconsult, Cheserem term in office 1993-2001 The t-bill weekly results are shown here http://www.centralbank.g...ills/WeeklyBills91.aspx[/quote] Mkono Cheserem was appointed CBK governor in July 1993. Now the data contained in the CBK link shows a very nice drop in T - Bill rates as soon as he was appointed. Your data supports my view that Cheserem was a very effective governor during a turbulent period. Eric Kotut is the fella who misgoverned the bank before then. http://www.marsgroupkeny...26ae47fa259eb510d9b2419c
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Performance rating does not do CBK governor justice http://www.businessdaily...2/-/38xi83/-/index.html
GOD BLESS YOUR LIFE
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Nxa! Let this noble man be please 
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Rank: Elder Joined: 7/10/2008 Posts: 9,131 Location: Kanjo
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and the dude is still in the office wearing a fake smile! surely i.am.back!!!!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Cde Monomotapa wrote:Nxa! Let this noble man be please
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Rank: Member Joined: 11/21/2006 Posts: 608 Location: Ruiru
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harrydre wrote:and the dude is still in the office wearing a fake smile! surely What if Prof Ndung'u had left the office on 31st Dec 2010? How would have history judged him? "..I am because we are. "― Ubuntu, Umtu,
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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There is no excuse for stupidity. No matter what lame excuses are given. Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 3/2/2007 Posts: 8,776 Location: Cameroon
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In my view, the guy has done very well. This is further supported by the daily bickering of wazua gurus, all of them taking divergent stands on monetary policy. Let the prof. be.... TULIA.........UFUNZWE!
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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A free floating shilling is Kenya’s best option for long-term stability http://www.businessdaily.../-/14384nk/-/index.html
GOD BLESS YOUR LIFE
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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"For a very long time it has been cited as a huge dis-advantage the limited participation & intergration of sub-Saharan Africa in global finance, economics & trade. But as it is now and into the foreseeable future, that happens to be our greatest strength and attractiveness to both local & foreign investments especially against the back-drop of the economic turmoil in the advanced economies. Let the good times roll  Afrika Oyee!! Thank you." - Uncle James.
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Rank: Member Joined: 9/9/2010 Posts: 546 Location: Garissa
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harrydre wrote:and the dude is still in the office wearing a fake smile! surely You are hating on Prof. Ndung'u for no apparent reason. If you read the Reuters report, you would discover the research done was done by either simple idiots or biased researchers. And that is where we fail as Africans. We assume that what any swine endorses as 'information' is true. You need to realise that they invented lying and die doing exactly that. Wisdom to detect when share prices hit rock bottom.
When interest on bonds keep going up, you know the bear run is on high street. When interest on bonds start leveling, the bear has met the bull and they have hit rock bottom. When the interest rates on bonds start coming down, the bull has overpowered the bear and you better be riding the bull.
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Sure wrote:harrydre wrote:and the dude is still in the office wearing a fake smile! surely You are hating on Prof. Ndung'u for no apparent reason. If you read the Reuters report, you would discover the research done was done by either simple idiots or biased researchers. And that is where we fail as Africans. We assume that what any swine endorses as 'information' is true. You need to realise that they invented lying and die doing exactly that.  GOD BLESS YOUR LIFE
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Emerging Markets has named Njuguna Ndung’u the Central Bank Governor of the Year, sub-Saharan Africa 2014. http://www.businessdaily.../-/1577lonz/-/index.html"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 7/21/2010 Posts: 6,185 Location: nairobi
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The worst can be the best given the time "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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How fortunes change.
BBI will solve it :)
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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[quote=murchr]Emerging Markets has named Njuguna Ndung’u the Central Bank Governor of the Year, sub-Saharan Africa 2014. http://www.businessdaily...-/1577lonz/-/index.html[/quote] Kudos The opposite of courage is not cowardice, it's conformity.
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