How Cardinal John Njue Built Bank, Generated Ksh2.8 Billion for Catholic Church

Yesterday, March 13, 2021 the Catholic church in Nairobi held a thanksgiving mass for Cardinal John Njue.

He became archbishop of Nairobi in November 2007 after succeeding the late Ndingi Mwana A'Nzeki.

The faithfuls congregated to honour Njue's tenure at the helm of the archdiocese during which his achievements were laid out.

The financial might of the church grew immensely during his tenure, with some of his key initiatives revealed.

File image of Cardinal John Njue (center), former archbishop of Nairobi archdiocese. |Photo| Courtesy|

Father Simon Ng'ang'a the finance administrator of the diocese revealed that Njue founded the family day events which have been held for 11 of the 13 years he was in charge of the archdiocese.

Ng'ang'a revealed that the family day events had raked in Ksh1.37 billion in 11 years, which translates to Ksh124.4 million annually.

Some of the money was used for the construction of the Cardinal Maurice Otunga plaza for Ksh606 million and for another Ksh316 million.

Out of the funds, the archdiocese established a Ksh419 million clergy home.

"The most recent project achieved is our underground parking which cost Ksh959 million," Fr Ng'ang'a stated.

He further revealed that Njue orchestrated the ownership of a bank by the archdiocese.

"His eminence has established the Caritas Microfinance Bank which is owned by the archdiocese of Nairobi. It has created an avenue of economically empowering institutions and people in the archdiocese," Ng'ang'a stated.

The small gathering at the St Mary's School grounds was informed that the bank had received a cash injection of Ksh310 million during Njue's tenure.

Ng'ang'a reiterated that the archdiocese needed to own the bank fully.

"We need to buy it so that we can establish our catholic ecosystem just like other institutions. Religious and corporate institutions have created ecosystems to assist their members," Ng'ang'a stated.

He revealed that Njue's tenure had seen the archdiocese inject Ksh81 million into Pacis Insurance Company.

"This company has helped mitigate the risk exposure in our people and facilities. We are sure that our properties and projects are insured. Our priests and others in the diocese have general insurance and medical cover," he added.

Ng'ang'a noted that there was a Ksh218 million pension scheme for priests and that Njue had injected Ksh200 million into the establishment of Radio Maria.

"The capital investments and cash equivalents that have been invested by the Archdiocese of Nairobi during the tenure of his eminence Cardinal Njue add up to Ksh2.8 billion," Ng'ang'a stated.

Njue retired in January and Nairobi Auxiliary Bishop David Kamau was appointed the apostolic administrator of the diocese on January 22.

File image of Cardinal John Njue, former archbishop of Nairobi archdiocese. |Photo| Courtesy|