Prof Njuguna Ndung’u is a veteran Kenyan economist, university professor, and economic researcher currently working as the Cabinet Secretary for National Treasury and Planning.
Ndung’u was appointed to serve in that capacity by H.E Dr. William Ruto on 27th September 2022, taking the helm from Ukur Yatani who served under Uhuru’s administration. The finance man has a wealth of experience when it comes to matters concerning finances having served in different finance institutions since 1985.
Additionally, Njuguna also served as the eighth Governor of the Central Bank of Kenya for two terms from 2007 to 2015. Ndungu will now serve under President Ruto heading one of the most crucial ministries in Kenya.
Njuguna Ndung’u Age and Place of Birth
The finance professor was born in Lodwar, Turkana County in 1960. From Lodwar, Njuguna beat all odds to become one of the most powerful men in the country.
Educational Background
Much is not known about where he attained his early education. After completing his high school level, Ndung’u joined the University of Nairobi where he pursued a Bachelor of Arts in Economics and a Master of Arts in Economics. He went on and earned his Doctor of Philosophy in economics from the University of Gothenburg in Sweden.
Njuguna Ndung’u Wife and Kids
The Finance minister is a married man and a loving father, however, he has managed to keep his personal life away from the limelight.
Career
Njuguna’s name came to the limelight when he was named the eighth Governor of the Central Bank of Kenya in 2007. Prior to his elevation to that position, Ndugu was serving as the director of training at the African Economic Research Consortium.
Additionally, he has also lectured in advanced theory and econometrics at the University of Nairobi working as an associate professor of economics. On top of that, the finance minister has also worked as a regional programme specialist for the Eastern Southern Africa Regional Office, of the International Development Research Centre.
He also served as principal analyst/researcher at the Kenya Institute for Public Policy Research and Analysis where he later advanced and became the head of the Macroeconomic and Economic Modelling Division.
As an experienced researcher and lecturer who has worked with AERC and MEFMFI network, he has managed to publish some international journals and also contributed to some chapters in different financial books. Some of the topics he has handled in his chapters include inflation, interest rate, exchange rate, financial management, and other related topics.
After his tenure as the Governor of the Central Bank of Kenya elapsed in 2015, Ndung’u went on and joined the African Economic Research Consortium serving as the director of the organization. In 2019, he was named part of the advisory board of the annual Human Development Report of the United Nations Development Programme (UNDP).
On 22nd September 2022, Ndung’u was appointed as the Cabinet Secretary for Treasury and Planning. Initially, the Ministry was headed by Ukur Yattani who also took over from Henry Rotich who was dismissed due to graft allegations.
Salary and Net Worth
As a cabinet secretary, Njuguna will be earning an estimated monthly salary of over Ksh 1.5 million with allowances included. At the moment his net worth is still unclear but from his lifestyle, his net worth is estimated to be over Ksh 300 million.