Kamau Thugge named Africa's Central Bank Governor of the Year

The award was presented to Dr Thugge at the African Banker Awards event in Nairobi on Tuesday May 28, 2024, during the Annual Meetings of the African Development Bank.

In their citation, the African Banker highlighted the considerable challenges faced by central bank governors globally this year, noting that despite the obstacles Dr Thugge has successfully stabilized markets and bolstered confidence in Kenya's economy.

“This year has presented significant challenges for central bank governors worldwide, and we across the continent have not been immune to the economic and geopolitical turmoil. Despite the challenges, during your tenure in office, you have successfully stabilised markets and instilled confidence in the Kenyan economy."

The markets have responded by showing their faith and support for the Kenyan shilling, and the banking sector has demonstrated remarkable resilience, positioning itself as a true regional leader,” noted the African Banker. 

The Awards Committee praised Dr Thugge's recent achievements, acknowledging the strategic role played by the Central Bank under his leadership in addressing market failures and steering the economy towards growth.

Upon receiving the award, Dr. Thugge expressed his gratitude to the Board, Monetary Policy Committee, Management, and Central Bank of Kenya staff.

He also recognized the overall leadership of President William Samoei Ruto,  acknowledging the collaboration with the National Treasury, the President’s Council of Economic Advisors, banking sector colleagues, and development partners.

“This recognition is an affirmation of Kenya’s sound macroeconomic policies. To this end, I must recognise President, Dr. William Samoei Ruto, who has provided overall leadership. I also greatly appreciate the other government agencies we have walked the journey with including the National Treasury, the President’s Council of Economic Advisors, my banking sector colleagues, and our development partners,” he said.

Now in their 18th year, the African Banker Awards celebrate institutions and individuals who have significantly contributed to the reform, modernization, and expansion of Africa’s banking and financial sector, promoting the continent's sustained economic growth.