Kenya: Central Bank of Kenya elects second deputy governor

A parliamentary committee has approved the appointment of Susan Koech as the deputy governor of the Central Bank of Kenya (CBK).

A committee under Finance and Planning announced Dr. Koech to have met the requirements for appointment as the second deputy governor.

“The committee recommends that the House approves the appointment of Dr. Susan Koech as the deputy governor of the Central Bank of Kenya,” said the committee.

The second CBK governor has been appointed to avoid a leadership gap in the CBK.

Dr. Koech holds a doctorate in business administration from Moi University and was the Nairobi regional head at KCB Group before making the switch to government corridors.

Appearing before the vetting panel,  Dr. Koech told lawmakers her vision is to put in place a functional and vibrant interbank forex market that has collapsed.

“I want to see a functional and vibrant interbank forex market. Right now, it is not working,” said Dr. Koech during her approval hearings.

Ten candidates were shortlisted for the vacant position in recruitment shepherded by the Public Service Commission.

They included Higher Loans Education Board CEO Charles Ringera, former National Bank of Kenya boss Munir Ahmed, former Capital Markets Authority chief executive Paul Muthaura and Gerald Nyaoma, director of bank supervision at the CBK.