Updated 28 October 2026
The CBK governor is Dr Kamau Thugge, the tenth Governor of the Central Bank of Kenya. President William Ruto appointed him, and he took office on 19 June 2023, succeeding Dr Patrick Njoroge, whose term ended on 17 June 2023. His deputy is Gerald Nyaoma Arita, appointed with effect from 9 December 2024. Below: Thugge’s background, how the governor is appointed, the senior team and what the job means for your loans, savings and the shilling.
Updated October 2026, from CBK press releases and the CBK board list gazetted on 29 September 2023.
Who Is the CBK Governor in 2026?
Dr Kamau Thugge has held the post since 19 June 2023. CBK’s appointment press release lists his previous roles:
- Work at the International Monetary Fund, including the Policy Review and Development Department and the Trade Policy Division. He helped design the Highly Indebted Poor Countries (HIPC) initiative and served as Mission Chief to Botswana and Lesotho.
- At the National Treasury: Head of Fiscal and Monetary Affairs, Economic Secretary, Senior Economic Advisor and Principal Secretary.
- Most recently before CBK, Senior Advisor to the President and Head of Fiscal and Budget Affairs.
- Board seats at CBK, the Monetary Policy Committee, the Kenya Revenue Authority and the Capital Markets Authority.
He holds a bachelor’s degree from Colorado College and a master’s and PhD in economics from Johns Hopkins University.
CBK Leadership at a Glance
| Role | Name | Since | Source |
|---|---|---|---|
| Governor | Dr Kamau Thugge | 19 June 2023 | CBK press release, 19 June 2023 |
| Deputy Governor | Gerald Nyaoma Arita | 9 December 2024 | CBK governance page; press release, 7 January 2025 |
| Previous Governor | Dr Patrick Njoroge | Term ended 17 June 2023 | Gazette Notice No. 13352 of 2023 |
Nyaoma joined CBK in August 1988 and rose through the Financial Markets, Banking Services and Internal Audit departments to become Director of Bank Supervision. He holds an M.Phil in economics from Cambridge and a BA in economics from the University of Nairobi, and is a CPA-K and CPS-K.
How the CBK Governor Is Appointed
CBK is established under Article 231 of the Constitution and is wholly owned by the Government. The President appoints the governor, and the nominee is vetted by Parliament: the National Assembly published a report on Dr Thugge’s approval hearing before he took office. CBK sits under the Central Bank of Kenya Act, which sets the governor’s term.
What the CBK Governor Does
The governor chairs the Monetary Policy Committee (MPC), which sets the Central Bank Rate. That rate feeds into what banks charge on loans and what Treasury bills and money market funds pay. The governor also speaks for CBK on:
- Banking supervision: licensing banks and digital lenders and handling customer complaints that banks fail to resolve.
- Government borrowing: CBK runs the Treasury bill and bond auctions. See this week’s Treasury bill rates.
- The shilling and reserves: CBK publishes the daily indicative exchange rate; see the dollar to shilling rate today.
- Currency: issuing notes and coins and telling the public how to spot fake Kenyan banknotes.
Thugge also represents Kenya in talks with lenders; he has spoken about budget support talks with the World Bank and AfDB.
Why the CBK Governor Matters to Your Money
Decisions announced by the governor after each Monetary Policy Committee meeting move the cost of borrowing. When the Central Bank Rate falls, banks are expected to lower loan rates over time, and returns on Treasury bills and money market funds tend to ease. When it rises, the reverse happens. If you have a variable-rate loan, a mortgage or savings in a money market fund, the MPC statement is worth reading: CBK publishes it on its website the same day.
The governor also signs off on bank supervision priorities, such as how banks treat customers, how digital lenders are licensed and how complaints are handled. Customers who can’t get a bank to resolve a problem can escalate to CBK.
Kenya’s CBK Governors and the Changes to Watch
Thugge is the tenth governor in CBK’s history. His predecessor, Patrick Njoroge, left when his term ended on 17 June 2023. CBK’s 2023 annual report lists Dr Susan Koech as a deputy governor appointed on 10 March 2023, while Nyaoma’s appointment followed in December 2024.
We track leadership changes at regulators and listed companies as they are announced. To deal with CBK directly, use the CBK branches and contacts list.
Official Sources
Every name and date on this page comes from CBK or the Kenya Gazette. When the CBK governor or deputy changes, CBK issues a press release, which is the first place to check.
- CBK press release: Appointment of Governor Dr Kamau Thugge (19 June 2023)
- CBK press release: Appointment of Deputy Governor Gerald Nyaoma Arita (7 January 2025)
- CBK governance page
Frequently Asked Questions
Who is the current CBK governor?
Dr Kamau Thugge, who took office on 19 June 2023 as the tenth Governor of the Central Bank of Kenya.
Who is the CBK deputy governor?
Gerald Nyaoma Arita, appointed by the President with effect from 9 December 2024.
Who was the CBK governor before Thugge?
Dr Patrick Njoroge, whose term ended on 17 June 2023.
Who appoints the CBK governor?
The President appoints the governor after Parliament vets the nominee.
Checked on 28 October 2026 against CBK’s press releases of 19 June 2023 and 7 January 2025, CBK’s governance page and Gazette Notice No. 13352 of 29 September 2023.
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