The Central Bank of Kenya has confirmed Kamu Thugge as the new Governor after President William Ruto appointed him to the position.
He replaces Patrick Njoroge, whose eight-year reign has ended.
Before his appointment, he 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 design the Highly Indebted Poor Countries Initiative (HIPC) and other policy initiatives. He also worked on various Article IV missions.
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In the wake of the world financial crisis, he also served as mission chief to Botswana and Lesotho.
He held several high-level positions in Kenya, including those of Economic Secretary, Senior Economic Advisor, and Head of the Fiscal and Monetary Affairs Department of the National Treasury.
He also worked as the National Treasury's Principal Secretary and, more recently, as the President's Senior Advisor and Head of Fiscal and Budget Affairs.
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 laws were enacted with the governor's assistance.
In these roles, he also served on various boards, including 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.
