Kenya’s Central Bank Governor, Kamau Thugge, has placed the country on the global stage after receiving an ‘A’ grade from Global Finance magazine, joining a prestigious league of world-renowned financial leaders.
The recognition ranks him alongside U.S. Federal Reserve Chairman Jerome Powell and governors from Denmark, Vietnam, Indonesia, Chile, and Morocco.
The award is based on a rigorous grading system that evaluates central bankers worldwide on inflation control, economic growth goals, currency stability, interest rate management, and political independence.
With grades ranging from “A+” for excellent performance to “F” for outright failure, Thugge’s top rating indicates Kenya’s growing credibility in global economic governance, according to the CBK.
Global Finance founder Joseph Giarraputo noted that central bankers globally have faced some of the toughest challenges in recent years, with most deploying higher interest rates to contain inflation. He praised leaders like Thugge, who delivered results with independence and discipline.
“Our annual Central Banker Report Cards recognise those leaders who have not only delivered results but done so with independence, discipline, and strategic foresight,” he said.
Reacting to the award, the regulator boss revealed that it was a reflection of the work done by the Central Bank of Kenya team.
“This grade is a recognition of the hard work done by the team at the Central Bank of Kenya. In the past two years, we have had to make tough decisions in order to rein in inflation and manage the exchange rate. We are proud that these efforts have borne fruit,” he remarked.
According to CBK, Kenya has maintained inflation below target for over a year, while stabilising the shilling against major currencies.
Additionally, interest rates on treasury bills have fallen alongside the Central Bank Rate, signaling improved investor confidence. The CBK has also implemented a revised Risk-Based Credit Pricing Model to improve transparency in lending and strengthen monetary policy transmission.
This is not the first time Dr Thugge has received continental and global recognition. In May 2024, he was named “Central Bank Governor of the Year” by African Banker Magazine, cementing his reputation as one of Africa’s most effective monetary policymakers.
The award places the country among the most respected players in global financial circles, showing that its economic policies are not only credible but also influential. It is also a signal to investors and global partners that Kenya’s monetary management is both stable and forward-looking, according to CBK.
The award will be formally presented to Dr Thugge in October in Washington, DC, on the sidelines of the IMF and World Bank Annual Meetings.
