In April 2014, I made a strong argument on why the Central Bank of Kenya's policy signalling should not be subject to confusion that could arise if you have some political appointee as board Chairman who is not the Governor. This was after I carefully scrutinised from an economist's viewpoint the provisions of the draft CBK Bill that was (is?) meant to overhaul and modernise the central bank.
The media at that time was only willing to listen to self-made "corporate governance experts" such as Carol Musyoka who certainly do not seem to be appreciating the unique nature of a central bank and therefore imagine that its structure - just like that if an ordinary corporate such as a bakery - should have a chairman who is not the CEO.
All or a sudden the media has seen the light (see here). This is welcome, however late it comes!
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