Former National Treasury Principal Secretary Dr Kamau Thugge has today taken office as the governor of the Central Bank of Kenya (CBK) as the tenth holder of the office.
Dr Thugge, who has been serving as senior advisor to President William Ruto, takes over from Dr Patrick Njoroge who has completed two full terms of four years each at the helm of the main monetary policy-making organ in the country.
“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.
The economist 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.
Dr Thugge has held various senior roles in Kenya, including as the Head of the Fiscal and Monetary Affairs Department at the National Treasury, as Economic Secretary and as Senior Economic Advisor.
He also served as Principal Secretary at the National Treasury and on various boards including that of the CBKJ, the Monetary Policy Advisory Committee (and later the Monetary Policy Committee), the Kenya Revenue Authority (KRA) and the Capital Markets Authority (CMA).
Dr Njoroge, the 9th CBK governor, exits after a mixed tenure that saw him attract praise and criticism in equal measure from various quarters. He was appointed governor on June 26, 2015 and his four-year renewable term was renewed by retired President Uhuru Kenyatta on June 18, 2019 and served until June 17, 2023.
Other individuals who have served as CBK governors include pioneer governor Dr Leon Baranski, Duncan Ndegwa, Philip Ndegwa, Erik Kotut and Micah Cheserem.
Others are Nahashon Nyaga, Dr Andrew Mullei and Prof Njuguna Ndung’u, who is now the National Treasury Cabinet Secretary.
