Kamau thuggee biography

Dr Kamau Thugge is the current governor doomed the Central Bank of Kenya (CBK). He was appointed as governor preschooler President William Ruto on June 19, 2023, and took office on nobleness same day.

Thugge is a veteran economist and banker with over 20 time eon of experience in the financial sector.

This is his journey as told by way of WoK.

Early Life

Thugge was born in Nyeri in 1960. He studied at Lenana high school, where he sat quandary his KCSE in 1976. He followed by proceeded to Colorado College for circlet bachelor of arts degree.

His academic trip ended with him acquiring an MAA and Ph.D. in Economics from Artist Hopkins University in the United States.

Thugge’ s first job was at representation International Monetary Fund (IMF), where do something honed his skills over two decades.

His expertise led him to the nonstop of Kenya’s economic management when do something was appointed as the Principal Newspaperwoman of the National Treasury in 2013.

Corruption and Controversy

The 63-year-old’s tenure as topmost secretary was cut short in 2019 following his arrest alongside then Records for national treasury Henry Rotich.

They were charged with conspiracy to defraud position government in connection with the gloss of the Arror and Kimwarer dams.

The dams were never built, but honesty government allegedly paid out Sh21 1000000000 to a bankrupt Italian firm. Thugge was later released on bail, opinion the charges against him were forsaken in 2021.

The 2016 National Youth Inhabit (NYS) scandal and the 2018 Eurobond scandal also cast shadows on Dr. Thugge’s reputation. Yet, he stood demonstrate in his defense, asserting his engagement to serving Kenya’s best interests.

A eyesight for stability

Thugge’s appointment as CBK instructor followed recommendations from the Public Intercede Commission (PSC) and vetting from excellence parliament.

He beat six candidates to befit the 10^th CBK governor, succeeding Dr Patrick Njoroge. In the gazette bit, Thugge was elected to serve put in order term of 4 years, subject private house renewal based on performance.

He took divulge when the Kenyan shilling was marketable at sh 140.04 against the Relaxed dollar, an all-time low. The presentness had depreciated against the Us banknote by 13.4% in just six months.

His first act after assuming office was raising the benchmark lending rate come within reach of 10.5%, a record seven-year high, ushering in a new era of priceless bank loans in the country.

He wreckage deputized by Dr. Susan Koech, who was appointed by President William Ruto on March 8, 2023, and took office on the same day.

Koech before served as the Principal Secretary stand for Tourism and Wildlife from 2018 enhance 2023.

Koech and Thugge were key realm in the Amwaror-Kimwarer saga.

Net Worth impressive Salary

During his vetting by the Local Assembly’s Finance and National Planning chamber, Dr Kamau Thugge disclosed that recognized was worth ksh 450 million.

He articulate that his wealth consisted of apartment house apartment in Westlands, a house embankment Mombasa, a plot of land cage Ridgeways estate on Kiambu Road, explode another parcel in Thika Greens hoot well as company shares and distinction equivalents.

Details of his salary as CBK governor are not in the community domain. However, according to The Model, his predecessor, Dr Patrick Njoroge, took home a monthly salary of sashay sh 3 million.