•The Central Bank Act provides that there shall be two Deputy Governors who shall be appointed by the President through a transparent and competitive process.
• CBK's current leadership will complete their term after serving the maximum of eight years.
Central bank of Kenya has welcomed its second female deputy governor Susan Koech who was appointed by President William Ruto.
She comes in at a time that Sheila M’Mbijjewe who served as the Deputy Governor of the Central Bank of Kenya since 2015 is serving her last days.
Deputy Governors hold office for a term of four years but are eligible for re-appointment for a further term of four years.
“On behalf of the CBK Board, Management and Staff, I take this opportunity to congratulate Dr. Koech on her appointment and warmly welcome her to the Bank,” said CBK Governor Patrick Njoroge in a statement.
The Central Bank Act provides that there shall be two Deputy Governors who shall be appointed by the President through a transparent and competitive process and with the approval of Parliament.
The hiring of a Koech will address a leadership vacuum at the CBK in June, when Governor Patrick Njoroge and his sole assistant, Sheila M’Mbijjewe, end their last term after serving the maximum eight years.
Ten candidates had been shortlisted for the position.