Central Bank of Kenya Governor Dr. Kamau Thugge has been named the Central Bank Governor of the Year by African Banker Magazine.
In a press statement on Wednesday, May 29, CBK noted that the award was presented to Dr. Thugge on Tuesday at the African Bankers event in Nairobi held on the margins of the African Development Bank Group (AFDB) Annual Meetings.
The African Banker Magazine stated that the year 2024 had provided challenges to central bank governors but despite the challenges, the CBK governor stabilized markets and instilled confidence in the Kenyan economy.
“Despite the challenges, during your tenure in office, you have successfully stabilized 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," read the citation by African Banker Magazine.
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The Awards Committee further disclosed that it recognized Dr. Thugge's recent achievements as CBK governor and the strategic role the Central Bank is playing in addressing market failures and to help put the economy on the right footing to stimulate growth.
In his acceptance speech, Dr. Thugge expressed his gratitude to the board, management, and staff of CBK while thanking President William Ruto for his overall leadership.
He also thanked the National Treasury, the President's Council of Economic Advisors, and his banking sector colleagues who had walked with him.
"This recognition is an affirmation of Kenya's sound macroeconomic policies. To this end, I must recognize His Excellency President, Dr. William Ruto, who has provided overall leadership," Dr. Thugge remarked.
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