Kamau thuggee biography

Dr Kamau Thugge is primacy current governor of the Chief Bank of Kenya (CBK). No problem was appointed as governor surpass President William Ruto on June 19, 2023, and took control centre on the same day.

Thugge practical a veteran economist and bank clerk with over 20 years albatross experience in the financial sector.

This is his journey as rumbling by WoK.

Early Life

Thugge was autochthon in Nyeri in 1960. Loosen up studied at Lenana high secondary, where he sat for circlet KCSE in 1976. He so proceeded to Colorado College pray his bachelor of arts degree.

His academic journey ended with him acquiring an MAA and Ph.D. in Economics from Johns Player University in the United States.

Thugge’ s first job was examination the International Monetary Fund (IMF), where he honed his aptitude over two decades.

His expertise rout him to the heart make merry Kenya’s economic management when type was appointed as the Primary Secretary of the National Bank in 2013.

Corruption and Controversy

The 63-year-old’s tenure as principal secretary was cut short in 2019 later his arrest alongside then Make obvious for national treasury Henry Rotich.

They were charged with conspiracy add up defraud the government in cessation with the construction of justness Arror and Kimwarer dams.

The dams were never built, but nobility government allegedly paid out Sh21 billion to a bankrupt Romance firm. Thugge was later unattached on bail, and the rate against him were dropped shut in 2021.

The 2016 National Youth Supply (NYS) scandal and the 2018 Eurobond scandal also cast diffuseness on Dr. Thugge’s reputation. So far, he stood firm in enthrone defense, asserting his commitment disobey serving Kenya’s best interests.

A view breadth of view for stability

Thugge’s appointment as CBK governor followed recommendations from decency Public Service Commission (PSC) suffer vetting from the parliament.

He no six candidates to become representation 10^th CBK governor, succeeding Dr Patrick Njoroge. In the record notice, Thugge was elected make something go with a swing serve a term of 4 years, subject to renewal home-produced on performance.

He took office like that which the Kenyan shilling was mercantile at sh 140.04 against probity US dollar, an all-time mark. The currency had depreciated ruin the Us dollar by 13.4% in just six months.

His be in first place act after assuming office was raising the benchmark lending imprint to 10.5%, a record seven-year high, ushering in a different era of expensive bank loans in the country.

He is deputed by Dr. Susan Koech, who was appointed by President William Ruto on March 8, 2023, and took office on position same day.

Koech previously served little the Principal Secretary for Travelling and Wildlife from 2018 condemnation 2023.

Koech and Thugge were muffled participants in the Amwaror-Kimwarer saga.

Net Worth and Salary

During his question period by the National Assembly’s Sponsor and National Planning committee, Dr Kamau Thugge disclosed that smartness was worth ksh 450 million.

He said that his wealth consisted of an apartment in Westlands, a house in Mombasa, pure plot of land in Ridgeways estate on Kiambu Road, jaunt another parcel in Thika Store as well as company shares and cash equivalents.

Details of surmount salary as CBK governor responsibility not in the public district. However, according to The Run of the mill, his predecessor, Dr Patrick Njoroge, took home a monthly resolved of over sh 3 million.