President William Ruto has chosen the former Wildlife Principal Secretary, Dr. Susan Koech as the second deputy governor of the Central Bank of Kenya. She holds a doctorate in business administration from Moi University. Also, she was the Nairobi regional head at KCB Group before making the switch to government offices.
This appointment comes in to fill a leadership vacuum at the CBK which has been without a second deputy governor for the past seven years.
The Senate is expected to receive Dr. Susan’s appointment on Monday, once the House resumes sitting after a long recess. The Tuesday’s Senate Order Paper indicates that, Speaker Amason Kingi is anticipated to convey the message from the President. This gives direction on when the House votes on her suitability to take up the post, based on approval hearing.
The Houses of Parliament are to resume sitting on Tuesday, the 14th of February 2023, following a three-month break.
The hiring of the second deputy governor seeks to correct a legal breach that has been raised repeatedly. Thus attracting the attention of the office of the Auditor General. This law has been in enactment in 2015. It stipulates that the executive team at the CBK be composed of the governor and two deputies.
“The Central Bank of Kenya Act, Cap 491, states that there shall be two deputy governors. They shall be appointed by the President through a transparent and competitive process and with the approval of Parliament. The Deputy Governors, term is for four years. However, he/she is eligible for re-appointment for one further term of four years.
However, former President Uhuru Kenyatta ignored calls for the CBK to have two deputy governors during his nearly 10-year tenure. According to an audit of CBK books to June 30, 2022, the Auditor General has stated, “During the year under review, only one deputy governor was in office. There was no amendment in the CBK Act, which provided a reduction in the number of deputy governors.”
Madam Sheila M’Mbijjwe has been serving as the Deputy Governor of the Central Bank of Kenya. since 2015 before she attained the mandatory retirement age of 60 years in March 2018.