Kenya's CBK Governor Kamau Thugge Named The Best In Africa On Strong Shilling

• Kamau Thugge, Governor of the Central Bank of Kenya (CBK), was honoured with the African Banker Central Bank Governor of the Year award
• Thugge was lauded for his exceptional leadership amidst economic and geopolitical challenges
• Thugge expressed gratitude to the CBK's Board, Monetary Policy Committee, management, and staff for their support
• He also acknowledged the support from the Kenyan government and various stakeholders, attributing the award to Kenya's sound macroeconomic policies and collaborative efforts

Elijah Ntongai, a journalist at TUKO.co.ke, has more than three years of financial, business, and technology research expertise, providing insights into Kenyan and global trends.

Nairobi, Kenya – Kamau Thugge, Governor of the Central Bank of Kenya (CBK), has been honoured with the prestigious African Banker Central Bank Governor of the Year award by African Banker Magazine.

The award was bestowed during the African Banker Awards Event in Nairobi on May 28, 2024, held alongside the Annual Meetings of the African Development Bank.

Why Thugge was awarded

African Banker Magazine praised Thugge for his exemplary leadership during a year marked by economic and geopolitical challenges.

"Despite the challenges, during your tenure in office, you have successfully stabilised markets and instilled confidence in the Kenyan economy."

According to the magazine's report, the markets exhibited confidence in the Kenyan shilling, while the banking sector displayed notable resilience, establishing itself as a prominent leader within the region.

The awards committee also highlighted Thugge's strategic role in addressing market failures and stimulating economic growth.

"In granting you this accolade, the Committee recognized your recent achievements as Central Bank Governor and acknowledged the strategic role the Central Bank is playing to address market failures and help put the economy on the right footing to stimulate growth."

Thugge gives thanks

While accepting the award, Dr. Thugge thanked the CBK's Board, Monetary Policy Committee, management team, and staff for their support and contributions.

He also acknowledged the support from the Kenyan government and other key partners.

"This recognition is an affirmation of Kenya's sound macroeconomic policies. To this end, I must recognize His Excellency the 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," Thugge said.

Thugge's recognition underscores the resilience and strength of Kenya's financial sector under his leadership, showcasing the Central Bank of Kenya's pivotal role in the recovery of the Kenya shilling.

In recent months, the Kenya shilling has become the best-performing currency in Africa and globally.

Proofreading by Mercy Nyambura Guthua, journalist and copy editor at TUKO.co.ke