CBK deputy governor nominee Susan Koech says she is worth Sh370m

Dr Susan Koech, nominee for the position of Central Bank deputy governor, Tuesday told MPs vetting her for the position that her net worth is Sh370 million.

Dr Koech said this comprises assets worth Sh425 million and liabilities worth Sh55 million.

She explained that the wealth includes shares at Co-operative Bank and Safaricom, as well as income from running a hotel and a construction firm, as well as farming and rental businesses.

Dr Koech is appearing before a joint sitting of the National Assembly's Departmental Committee on Finance and Economic Planning and the Senate's Standing Committee on Finance and Budget.

The CBK is a state agency in charge of formulating and implementing the country’s monetary policy to promote price stability and foster liquidity, solvency and stability in the banking sector.

Teh agency's board chairman Mohammed Nyaoga, Governor Patrick Njoroge and his deputy Sheila M’Mbijiwe are all set to exit their positions with their second tenures in office coming to an end.

Dr Njoroge and Ms M’Mbijiwe were first appointed by former President Uhuru Kenyatta in June 2015 and their terms renewed for another four years in June 2019.

This was despite Ms M’Mbijiwe attaining the mandatory retirement age of 60 in March 2018, which in effect should have paved the way for her exit from the bank.