CENTRAL BANK OF KENYA
CBK RETIREES RECOGNITION CEREMONY
Serena Hotel, Nairobi – October 19, 2016
Speech by Dr. Patrick Njoroge
Governor, Central Bank of Kenya
As Prepared for Delivery
I am very honoured to join my colleagues in bidding a heartfelt kwaheri to you, our
retiring colleagues, at the end of your distinguished service at the Central Bank of Kenya.
Today’s experience is a bitter-sweet conundrum; a puzzle of sorts having to deal with the
emotions of separation. And yet we are whelmed in happiness seeing your joy as you hit
the tape at the end of the marathon, so to speak.
Serving in one institution for over 30 years, as most of you have done, is of course a
formidable commitment. You invested most of your youthful years in the Central Bank,
and that cannot be taken for granted. Your service to the Central Bank was not merely to
earn a living, for there were many opportunities beckoning elsewhere. You chose to
serve our nation through this institution and stayed on in the assigned roles. I thank you.
During your life in the Bank, you contributed within your individual and collective
responsibilities, to the successes and transformational work that the Bank has achieved
for the last 50 years. You were there during good times and tough times - as you know,
the banking sector and indeed our economy has gone through different phases. You all
stayed focused and steadfast. I salute you.
Therefore you are part of the reason the Central Bank is celebrating its 50th anniversary
in 2016. In a very special way, you connect us to a successful past, one we love to
reminisce about. Although you have or will physically be separated from us in the
context of the institution, be assured that you remain in our hearts and minds, and we
don’t plan to downgrade you any time soon.
I therefore express my utmost gratitude and appreciation to you, my retiring colleagues,
on behalf of the Board, Management and staff of the Bank, and of course on behalf of all
the past Governors of CBK whom you served at various stages of your career. Together,
we salute your commitment to the Central Bank and to the Kenyan Citizen at large. You
will remain in our fondest memories for many years to come. Remember the dictum,
‘Once a central banker, always a central banker.’ You have no choice friends; you are
our brand ambassadors.

As you move on to the next phase of your lives, I believe the lessons of life learned while
at the Bank have prepared you for what lies ahead. Certainly, life comes in seasons, as is
often said, ‘there is a time and a season for everything’. This marks not an end but a
transition to another phase of life, perhaps as momentous and as productive as the one
you are leaving. I do not know what ‘retirement’ means to you. Someone at the beach
front swinging on a hammock, book in hand? I must admit such an image occasionally
crosses my mind too, as I reflect what retirement would mean for me. Certainly, you
deserve your rest, in whatever form it takes, but don’t stay there too long. The wide
range of skills you have acquired during your illustrious career should benefit the next
generation of Kenyans, who look to you for mentorship.
So purpose to be a mentor and role model, as our young generation is looking up to you
for guidance. Therefore, in view of your wealth of knowledge and life experience, find
out how best you can give back to the society within your realms, with the same spirit,
energy and dedication you have demonstrated over the years.
And we all need to keep ourselves fit and healthy. Staying committed to a physically
active lifestyle is the key to better health. Most importantly, now that you have plenty of
time, this phase of life might be the perfect opportunity to indulge in one of your
favourite pursuits that have eluded you in the past due to work engagements. I mean, you
could write a book, memoir, learn a new sport or some other favourite engagement. It
could also be the opportunity to venture into new business ventures and consultancies.
As I conclude allow me to quote Peter Schwartz, a proponent of scenario planning: “In
the wealthy nations of the world we face nothing less than a thorough redefinition of
retirement. To be sure, people will continue to retire from their jobs. But retirement will
no longer be the twilight of life, focused on rest, recreation, and recuperation; it will
now be a time in which people will marshall their experience and intelligence to create
entirely new lives for themselves."
I salute you once again for demonstrating loyalty through the many years of service you
gave to the Central Bank. May your retirement and all your future endeavours be the
most meaningful years of your life - You deserve the best, and may you find it.
Thank you.