Dr. Susan Koech has been chosen by President William Ruto to a four-year term as the Deputy Governor of the Central Bank of Kenya (CBK).
Following parliamentary ratification on Wednesday, the appointment was gazetted on Friday.
After being screened by a joint Committee on Finance and Planning, she was approved by the House and Senate.
It is anticipated that Koech’s appointment will help the CBK, which has been operating without a second Deputy Governor for seven years, fill a leadership void.
The Office of the Auditor General became aware of this because it violated the law.
According to the Central Bank Act, there will be two Deputy Governors who will be chosen by the President following a fair and open selection process and with the consent of the Parliament.
Deputy Governors serve four-year terms, however they are eligible for reappointment for another four-year term.
Since 2015, Sheila M’Mbijjewe has held the position of Deputy Governor of the Central Bank of Kenya.
If the parliament approves Koech’s nomination, she has promised to lower interest rates to a single-digit amount.
