The Public Service Commission (PSC) has began the process of recruiting a second Central Bank Deputy Governor as is required by law.  The Central Bank of Kenya Act, Cap 491 requires that the Central Bank have two Deputy Governors but this has not been the case with only Sheila M’Mbijjewe serving as the lone deputy.

The banking sector regulator has been without a second Deputy Governor since the tenure of Prof. Njuguna Ndung’u, who is now the Cabinet Secretary for Treasury, contrary to regulations.

Sheila M’Mbijjewe has served as the only Deputy Governor since 2015 and is now serving her second and final four year term set to lapse in June 2023.

To qualify for the position, one needs to be a Kenyan citizen holding a Bachelor’s degree in the field of economics, banking, finance, law, or other fields relevant to the function.

Public notice out

The candidate must meet the integrity requirements spelt out in chapter six of the constitution in addition to having over 10 years experience in senior management in any of the above named fields.  Already, the Public Service Commission (PSC) has placed a public notice in the local dailies advertising for the position.

“Pursuant to the provisions of section 13B of the Central Bank of Kenya Act, the Public Service Commission hereby invites applications from suitably qualified persons who wish to be considered for the position of the Deputy Governor of the Central Bank of Kenya,” reads the notice in part. Interested candidates have up to November 14 to submit their applications.

Earlier, the Auditor General had called out the Central Bank for failure to appoint a second Deputy Governor noting that the law does not provide for a reduction of the number of Deputy Governors.