Dr. Susan Koech Set to Take Over as CBK Deputy Governor

The National Assembly has cleared way for Dr. Susan Koech to become Deputy Governor of the Central Bank of Kenya.

On Wednesday, Members of Parliament approved her nomination.

Her approval  comes following vetting by the  Joint-Committee of the National Assembly’s Departmental Committee on Finance, and the Senate Standing Committee of Finance and Budget.

Koech has pledged to reduce interest rates to a single digit figure.

She says her main agenda will be to bring down the cost of credit, streamline the interbank money market and create more buffers for the shilling.

Also Read: Former Wildlife PS Susan Koech Nominated for CBK Deputy Governor

The former Wildlife PS adds that she will focus on lowering lending rates by working towards reducing the benchmark interest rate from the current 8.75pc to 5pc or below.

“We need to ensure there is a vibrant interbank forex market and in addition, ensure we diversify exports so that we increase exports while at the same time reducing imports especially food items,” explained Dr. Koech.

She is expected to take over from Sheila M’Mbijjewe who term of service expires in three months time.

Dr Koech is sees as President William Ruto’s preferred successor of Central Bank of Kenya Governor Dr. Patrick Njoroge whose second four year term also ends in  three months time