NAIROBI, Kenya, June 19 – The Central Bank of Kenya (CBK) has confirmed Kamau Thugge as its new Governor.
Thugge’s takeover comes after the President William Ruto appointed him to the position.
He replaces Patrick Njoroge whose eight-year reign has ended.
The new Governor has a stellar career, having worked with the International Monetary Fund (IMF) in policy and non-policymaking departments.
They include the Policy Review and Development Department and the Trade Policy Division.
In these roles, Thugge helped to design the Highly Indebted Poor Countries Initiative (HIPC) as well as other policy initiatives. He also worked on various Article IV missions.
He also served as mission chief to Botswana and Lesotho in the wake of the global financial crisis.
In Kenya, he held various senior roles, including as the Head of the Fiscal and Monetary Affairs Department at the National Treasury, as Economic Secretary, and as Senior Economic Advisor.
Furthermore, he served as Principal Secretary at the National Treasury and, lately, as Senior Advisor to the President and Head of Fiscal and Budget Affairs.
The Governor helped to design and implement various laws, including the Public Finance Management Act, the Commission on Revenue Allocation Act, the Independent Officers (Appointment) Act, the Public Procurement and Disposal of Assets Act, and many more.
In these roles, he also served on various boards, including that of the CBK, the Monetary Policy Advisory Committee (and later the Monetary Policy Committee), the Kenya Revenue Authority and the Capital Markets Authority.
He holds a Bachelor’s degree from Colorado College and Master’s and PhD degrees in economics from Johns Hopkins University in the United States.
