Kenya’s Parliament has given the green light for Pius Ang’asa to join the Board of the Central Bank of Kenya (CBK).
Ang’asa was nominated last month by President William Ruto under Section 11 of the Central Bank of Kenya Act. He had to wait for approval from both the National Assembly and the Senate before officially taking the position.
The approval followed a detailed vetting process. The Joint Committee of the National Assembly’s Departmental Committee on Finance and National Planning, together with the Senate Standing Committee on Finance and Budget, interviewed him before making the final recommendation.
The CBK Board of Directors plays a big role in Kenya’s financial system. They create policies for the bank and regularly check how well it is performing. They also make sure the CBK follows the law, operates transparently, and maintains high standards of governance.
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One of their biggest responsibilities is to appoint senior leaders at the bank, including the governor. The board also keeps watch over the bank’s functions and ensures its work supports Kenya’s national financial goals.
The CBK Board has 11 members: the chairperson, the governor, the principal secretary to the National Treasury, and eight non-executive directors appointed by the president.
Ang’asa’s appointment comes less than a year after another key leadership change at the CBK. In November last year, President Ruto nominated Gerald Nyaoma Arita as Deputy Governor of the Central Bank.
Just like Ang’asa, Nyaoma went through a strict vetting process. His approval was pushed forward by the Chairperson of the National Assembly Finance Committee, Kuria Kimani, on behalf of the joint parliamentary committee.
Nyaoma is not new to CBK. He has worked there for years, rising through the ranks and gaining deep knowledge of the institution. His experience made him a strong candidate for Deputy Governor. After being shortlisted from six candidates by the Public Service Commission, he officially took the role and now serves as the second Deputy Governor of CBK.
Appointments like these shape the direction of Kenya’s monetary policy and financial stability. With Ang’asa now on the board and Nyaoma in a top executive role, the CBK leadership team is gaining fresh perspectives while keeping experienced hands on deck.
The board’s work affects everything from interest rates to how stable the shilling remains. It also plays a role in investor confidence, which is crucial for Kenya’s economic growth.
President Ruto’s decision to bring in Ang’asa signals a continued focus on reshaping CBK’s leadership to align with his administration’s economic agenda. Whether these changes will boost Kenya’s financial sector remains to be seen, but one thing is certain, the eyes of the business community are watching closely.
