Thugge named top governor during Africa bank awards
Business
By
Nicole Njuguna
| May 30, 2024
Protagonists of innovative trends and development in the fast-evolving world of African banking and finance were the big winners during the 18th edition of the African Bankers Awards, 2024 held on Tuesday.
The annual celebrations are held on the side-lines of the African Development Bank Group meetings hosted by various member states. The awards recognise outstanding achievements of companies and individuals who have positively shifted the perception of Africa's potential in domestic and international markets, creating new financial opportunities for citizens and communities all over the continent and inspiring new generations of bankers shaping Africa's future.
Kenya's Central Bank of Kenya (CBK) Governor Dr Kamau Thugge, was awarded Central Bank Governor of the Year. In their citation, the African Banker highlighted the considerable challenges faced by central bank governors globally, noting that despite the obstacles, Dr Thugge has successfully stabilised markets and bolstered confidence in Kenya's economy.
African Export-Import Bank (Afreximbank) bagged Bank of the Year while Flutterwave was awarded FinTech of the Year for demonstrating original and efficient use of technology, innovative practices and inclusive access to financial services for customers.
READ MORE
Prof Mutua should face MPs for grilling on victims payouts
Government should address issues raised by young people without resorting to intimidation
Subaru driver in a dramatic high-speed chase after alleged hit-and-run in Nairobi
Bottled water exempted from excise duty
Kenya out to increase its participation at LA28
Initiative to upskill youth in construction sector launched
Cyril Maloba: The math teacher who refused to stop
Knec call for KCSE candidates as curtain falls on 8-4-4 education system
'A criminal act of the State,' Orengo says of Lichuma torture claims
From Kenya to Zambia: Kenyan firm wins role in school meals overhaul
Standard Bank Group was awarded under the Sustainable category, for exemplifying philanthropic use of funds to improve the lives of the less advantaged in society.
Ecobank was lauded as SME bank for expanding SME-focused lines of credit, providing technical assistance and linkage capacity-building programmes with the private sector.
Omar Ben Yedder, chair of the Awards Committee, emphasiSed the importance of agility, saying, "Our banks and financial institutions are embracing new ideas and creating mechanisms to unlock capital. However, speed and scale are critical factors that require laser focus. How do we replicate these successes across the continent swiftly and broadly?"
Prof Vincent Nmehielle, African Development Bank Secretary General said that this year's annual meetings were some of the best attended, ''a testament to the Bank's convening power, amassing stakeholders together to drive the continent's development.''
Jules Ngakam, Group Chief Executive, African Guarantee Fund noted the SME paradox - they are expected to be the biggest employment and growth drivers, yet, they are the least funded, with a $300bn (roughly Sh40 billion).
Revealed: Why millions are unable to afford Sh387 daily spent
The World Bank warns that rising fuel costs, weak job creation and widespread informal employment could push up to 2.4 million more Kenyans into poverty in 2026.Agoa extension gives industry breathing room, results in highest-ever export earnings
The extension of the Growth and Opportunity Act (Agoa) until the end of 2028, has promoted certainity to exporters in textile industries and also created jobs in Kenya.County workers' pension at risk in Sh2 billion Lapfund real estate mess
The Auditor General has flagged irregular contract changes and project delays that risk the loss of Sh2 billion at the Local Authorities Provident Fund (Lapfund).Beverage price wars loom as Indian billionaire acquires Kenyan firm for Sh4.8b
Kenya's soft drinks market is on brink after Indian billionaire Ravi Jaipuria snapped up a Kenyan dairy and juice plant for $32 million (Sh4.8 billion).SRC gazettes regulations to strengthen remuneration governance in public service
The Salaries and Remuneration Commission has introduced new regulations to improve transparency, link pay to performance and help control Kenya’s rising public wage bill.MOST READ
- Agoa extension gives industry breathing room, results in highest-ever export earnings
FINANCIAL STANDARD
- County workers' pension at risk in Sh2 billion Lapfund real estate mess
FINANCIAL STANDARD
- Beverage price wars loom as Indian billionaire acquires Kenyan firm for Sh4.8b
FINANCIAL STANDARD
By Brian Ngugi