NAIROBI — Central Bank of Kenya (CBK) Governor Kamau Thugge has been named among the world’s top-performing central bank chiefs after earning an ‘A’ grade in Global Finance magazine’s annual Central Banker Report Cards.
The recognition places Thugge in an exclusive league of global monetary policymakers celebrated for their effectiveness in inflation control, currency stability, interest rate management, and political independence.
He now joins the ranks of U.S. Federal Reserve Chair Jerome Powell and governors from Denmark, Vietnam, Indonesia, Chile, and Morocco.
The awards will be formally presented in October during the IMF/World Bank Annual Meetings in Washington, DC.
Thugge, who took over as CBK’s 10th governor in June 2023, said the honour reflects the collective effort of the institution.
“This grade is a recognition of the tough but necessary decisions we have made to rein in inflation and manage the exchange rate. Over the past year, inflation has stayed below the target range, the shilling has been stable, and interest rates on treasury bills as well as the Central Bank Rate have come down,” he said in a statement.
The CBK has rolled out several reforms under Thugge’s tenure, including the revised Risk-Based Credit Pricing Model aimed at enhancing transparency in lending and strengthening monetary policy transmission.
Global Finance founder and editorial director Joseph Giarraputo said the ranking recognises central bankers who demonstrate “independence, discipline, and strategic foresight.”
Thugge’s recognition comes just months after he was named Central Bank Governor of the Year by the African Banker magazine in May 2024, cementing his growing international reputation.
Before his CBK appointment, Thugge served as Principal Secretary at the National Treasury under former President Uhuru Kenyatta and later as Senior Advisor on fiscal affairs and budget policy to President William Ruto’s economic council.
He also chaired the East African Development Bank and held senior roles in the Ministry of Finance, the Capital Markets Authority, and the Kenya Revenue Authority.
The accolade, awarded barely a year into his tenure, underscores Kenya’s rising profile in global financial circles and CBK’s pivotal role in steering economic stability.
