FINGERS CROSSED

MPs to consider report seeking to approve CBK deputy governor

The report was tabled Tuesday on the floor of the House.

In Summary
  • If approved, Koech who was picked by President William Ruto early last month will be the second female deputy governor of CBK.
  • Ten other candidates had been shortlisted for the position.
Joint Committee of the National Assembly Departmental Committees on Finance and National Planning and the Senate Standing Committee on Finance and Budget vet the nominee for appointment to the position of the Deputy Governor, Central Bank of Kenya (CBK) Dr Susan Koech on February 28, 2023.
Joint Committee of the National Assembly Departmental Committees on Finance and National Planning and the Senate Standing Committee on Finance and Budget vet the nominee for appointment to the position of the Deputy Governor, Central Bank of Kenya (CBK) Dr Susan Koech on February 28, 2023.
Image: EZEKIEL AMINGA

Members of Parliament are today expected to consider a report seeking to approve the appointment of Susan Koech as the CBK deputy governor.

The report from the joint departmental committee on Finance and National Planning of the National assembly and that of the Senate was tabled Tuesday on the floor of the House.

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It comes following the conclusion of a vetting exercise last week.

The special motion will be moved by committee chairperson Francis Kimani.

Senator Ali Roba co-chaired the committee.

"Pursuant to Section 13B(1) and 13C(1) of the Central Bank of Kenya Act, Section 8(2) of the Public Appointments (Parliamentary Approval) Act 2011 and Standing Order 216(5)(f) of the National Assembly Standing Orders, this House approves the appointment of Dr Susan Jemtai Koech as Deputy Governor of the Central Bank of Kenya," reads the notice of motion on the order paper.

If approved, Koech who was picked by President William Ruto early last month will be the second female deputy governor of CBK.

Ten other candidates had been shortlisted for the position.

Koech holds a doctorate in business administration from Moi University and was the Nairobi regional head at KCB Group before joining the government.

During her vetting, the nominee vowed to lower the cost of credit, ensure a functional vibrant interbank forex market and have more mergers and acquisitions.

"To manage frauds in the banking sector, when a bank is coming up with a new product, before approval of any bank product, all the risk parameters need to be looked at," she said.

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