The 8th World Congress Event

Dr. Kamau Thugge is a distinguished Kenyan economist and banker who assumed office as the tenth Governor of the Central Bank of Kenya on 19 June 2023, following his appointment by President William Ruto. Born in 1957 in Nyeri County, he earned his Bachelor of Arts in Economics from Colorado College, and went on to complete both a Master’s and PhD in Economics at Johns Hopkins University in the United States. Career Highlights

• International Monetary Fund (IMF): Dr. Thugge spent nearly two decades at the IMF, contributing to key initiatives such as the Heavily Indebted Poor Countries (HIPC) Initiative. He also served as Mission Chief to Botswana and Lesotho during the global financial crisis.
• Kenyan Public Service: Upon returning to Kenya, he served in various senior roles at the National Treasury, including Head of the Fiscal and Monetary Affairs Department, Economic Secretary, Senior Economic Advisor, and later as Principal Secretary and Senior Adviser to the President on Fiscal and Budget Affairs. In these capacities, Dr. Thugge played a pivotal role in crafting key legislative frameworks such as the Public Finance Management Act, Commission on Revenue Allocation Act, Independent Officers (Appointment) Act, and the Public Procurement and Disposal of Assets Act.
• Central Bank Governor: Since taking over from Dr. Patrick Njoroge, Dr. Thugge has advocated for fiscal innovations—such as introducing a local U.S. dollar infrastructure bond to ease currency pressures—and emphasized the dangers of overvaluing the Kenyan shilling, warning of its potential effect on foreign reserves.

Accolades & Recognition In May 2024, Dr. Thugge was honored as Africa’s Central Bank Governor of the Year by African Banker Magazine, recognizing his leadership in stabilizing markets and restoring confidence in Kenya’s economy amid significant global economic challenges.