On Monday, Dr Kamau Thugge assumed the role of the Central Bank of Kenya (CBK) Governor following his appointment by President William Ruto. He takes over from Dr Patrick Njoroge whose two full terms of four years have come to an end.
“The Central Bank of Kenya welcomes Dr Kamau Thugge E.B.S., M.B.S., C.B.S., as its tenth Governor. This follows his appointment by His Excellency President William Samoei Ruto, PhD., C.G.H. Dr Thugge has taken office today,” said the CBK in a statement.
Dr Thugge has had a long and distinguished career in the international and Kenyan public service. He worked in the International Monetary Fund (IMF) in both policymaking and non-policymaking departments. These include the Policy Review and Development Department and the Trade Policy Division. In these roles, Dr 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. Dr Thugge also served as Mission Chief to Botswana and Lesotho in the wake of the Global Financial Crisis.
Dr Thugge has held various senior roles in Kenya including as the Head of Fiscal and Monetary Affairs Department at the National Treasury and as Economic Secretary and Senior Economic Advisor. He also served as Principal Secretary and lately as Senior Advisor to the President and Head of Fiscal and Budget Affairs.
Additionally, Dr Thugge helped 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 CBK, the Monetary Policy Advisory Committee (and later the Monetary Policy Committee), the Kenya Revenue Authority (KRA) and the Capital Markets Authority (CMA).
The Governor holds a Bachelor’s Degree from Colorado College and a Master’s and PhD Degree in Economics from Johns Hopkins University in the United States.