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Central Bank of Kenya Deputy Governor Dr Susan Koech. [Courtesy]

The number of women holding governor roles at central banks increased to 29 this year from 23 last year, according to a recent report.

Despite this rise, women still represent only 16 per cent of the world’s 185 central banks, as reported by the Official Monetary and Financial Institutions Forum.

In Kenya, there have been two female deputy governors since 2015: Susan Jemtai Koech, who began her four-year term as the second female deputy governor of the Central Bank of Kenya on March 10, 2023, and Sheila M'Mbijwe, who served as deputy governor from 2015 to 2023.

IMF research suggests that increasing gender balance in senior roles can enhance diversity of thought, checks and balances, and greater economic and financial stability. According to OMFIF, smaller economies, like Bosnia and Herzegovina and Papua New Guinea, are leading the way on gender balance.

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