Gerald Nyaoma Appointed as Second Deputy Governor of the Central Bank of Kenya

Central Bank of Kenya (CBK) has faced several changes following President William Ruto’s recent nominations. Gerald Nyaoma Arita is one person who has found favour from President Ruto’s list of nominees after being appointed as the Second Deputy Governor of the CBK replacing Sheila M’mbijiwe who retired in June.

Arita, currently serving as Director of the Bank Supervision Department, brings 36 years of banking experience to the role, including previous positions as Director of Financial Markets Development and Acting Director of Internal Audit.

Nyaoma holds a Master of Philosophy in Economics from Cambridge University, is a Certified Public Accountant (CPA-K) and Certified Secretary (CS).

He will serve alongside First Deputy Governor Susan Koech, a former KCB Group regional head witha doctorate in business administration. His extensive experience at CBK since 1988 includes various critical roles such as Director of Financial Markets Development, Director of Banking Services, and Acting Director of Internal Audit, positioning him well
for this senior leadership role at CBK Kenya.

Nyaoma holds a Master of Philosophy in Economics from Cambridge University, is a Certified Public Accountant (CPA-K), and Certified Secretary (CS). He will serve alongside First Deputy Governor Susan Koech, a former KCB Group regional head with a doctorate in business administration.

His extensive experience at CBK since 1988 includes various critical roles such as Director of Financial Markets Development, Director of Banking Services, and Acting Director of Internal Audit, positioning him well for this senior leadership role at CBK Kenya.

Nyaoma emerged as the successful candidate from a pool of six shortlisted applicants, including HELB Chief Executive Officer Charles Mutuma Ringera and
former Kenya Bankers Association CEO Dr. Habil Okunda Olaka.

The appointment follows a competitive process as required by the Central Bank of Kenya Act, which stipulates that deputy governors must be appointed through a transparent procedure with parliamentary approval.