Susan Koech approved CBK’s second Deputy Governor

Susan Koech has been approved as the second Deputy Governor of the Central Bank of Kenya (CBK).

Koech, alongside Sheila M’Mbijjewe, will deputise Dr. Patrick Njoroge who has held the office since 2015.

The Finance and Planning Committee of Parliament Tuesday approved Koach’s appointment, enabling the CBK to comply with the 2015 law that requires the regulator’s executive team to be composed of a governor and two deputies.

With Koech in place as the second Governor, it would avoid a crisis at the CBK helm when Dr. Njoroge and M’Mbijjewe conclude their term come June this year.

During the approval hearing, Koech said she would oversee the acquisition and mergers of banks and put in place a functional and vibrant interbank forex market.

She also advocated for the reintroduction of a law capping interest rates to reduce the cost of loans.

“The current interbank foreign exchange market had collapsed, and my vision is to put in place a functional and vibrant interbank forex market. Right now, it is not working,” said Koech.

Koech beat nine other candidates who had been shortlisted for the position including former National Bank of Kenya boss Munir Ahmed and former Capital Markets Authority CEO Paul Muthaura.

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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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