Ex-CBK Governor Patrick Njoroge on what kept him awake
He was not as much bothered about inflation as he was about the running of the Kenya Electronic Payment and Settlement System (KEPSS), the national Real Time Gross Settlement (RTGS) system operated by CBK.
Nairobi, Kenya – Former Central Bank of Kenya (CBK) Governor Patrick Njoroge revealed that his primary concern while leading the apex bank was maintaining the Kenya Electronic Payment and Settlement System (KEPSS), the national Real Time Gross Settlement (RTGS) system. Njoroge emphasized that the system's stability was of utmost importance, as any major failure could have widespread consequences for the country.
He highlighted that the system had a daily transaction limit of around 40,000 transactions, which had already reached 20,000 to 30,000 transactions per day. Njoroge stressed the need for skilled staff, modern systems, and processes to ensure the system's continued operation. He firmly stated that there was no alternative to modernizing the systems, as any major breakdown during the night could bring the entire nation to a standstill.
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