Kenyan central bank governor reappointed

Kenyan central bank Governor Njuguna Ndung'u has been reappointed for a second four-year term, according to an official government notice.

The reappointment by President Mwai Kibaki was published in the Kenya Gazette, dated February 25. The governor's second term starts on March 4.

Ndung'u has presided over a prolonged monetary easing cycle since 2008 to jumpstart economic growth after a bloody post-election, drought at home and the impact of the global financial crisis.

He has participated in initiatives aimed at increasing banks' credit to individuals and businesses, to fund economic activities and spur growth.

The governor supports the introduction of over-the-counter bond trading to deepen the market, which has seen investor appetite increase since 2009 due to automated trading and the issuance of longer-dated bonds and infrastructure bonds.