Dr. Kamau Thugge, the Governor of the Central Bank of Kenya, has been honored as the African Central Bank Governor of the Year by African Banker Magazine.
The award was presented to Dr. Thugge on May 28, 2024, at the African Banker Awards event in Nairobi, held during the Annual Meetings of the African Development Bank.
In their citation, African Banker Magazine acknowledged the significant challenges faced by central bank governors globally this year.
They noted that despite these 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 demonstrated their faith and support for the Kenyan shilling, while the banking sector has shown remarkable resilience, establishing itself as a true regional leader, as noted by African Banker.
The Awards Committee praised Dr. Kamau Thugge’s recent accomplishments, highlighting 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 staff of the Central Bank of Kenya.
He also acknowledged the overall leadership of President William Samoei Ruto, and recognized 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.
