President Ruto nominates new deputy governor of CBK

By Robert Mutasi 

President William Ruto has appointed Mr. Gerald Nyaoma Arita to the position of Deputy Governor of the Central Bank of Kenya.

The appointment places Arita in a critical position within the CBK and part of the country's financial policies and strategies amidst global economic challenges and changing regional dynamics.

Announcing his appointment, President Ruto said Arita has impressive academic and professional qualifications that reflect his commitment to economics with an expansive grasp of banking operations.

"He holds a Master of Philosophy (Economics) degree from the University of Cambridge, United Kingdom, which he attended on a scholarship from the Commonwealth," the President said.

To point out his very early interest in the subject, Arita graduated with a First Class Honours in Economics from the University of Nairobi.

Success while at UoN was built on studies abroad in the United Kingdom.

The Master of Philosophy degree from Cambridge is quite prestigious and reflects his depth of understanding in economics at a global level.

Besides his academic qualifications, Arita has accumulated a number of professional certifications that add weight to his suitability for the position of Deputy Governor. 

He is a Certified Public Accountant (CPA-K), a Certified Secretary (CS), and an Associate of the Kenya Institute of Bankers (AKIB).

These certifications, therefore, indicate his competency in those pivotal areas of financial analysis, regulatory compliance, and corporate governance that are crucial to the management of Kenya's central banking institution.

The nomination has come against a backdrop of various economic pressures facing Kenya, ranging from currency depreciation to inflation.

Arita's expertise is expected to further align with the strategic focus of the CBK on economic stability and financial sector development.

If confirmed, Arita will join Governor Kamau Thugge in steering the CBK through the complex challenges while undertaking efforts toward the achievement of economic stability, proper regulatory oversight, and support for the government's development agenda.

Arita comes to the role with experience and training expected to avail immense insight.

In addition to this, these academic credentials raise his professional qualifications, indicating great ability to handle the increasingly interrelated challenges facing Kenya's financial sector.

His appointment would not only strengthen leadership at the CBK but also signal commitment to professional excellence at the highest levels of Kenya's banking industry.