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
Run for Dignity initiative receives Sh2 million support ahead of Karura Forest event
Follow the Constitution,' activists tell govt ahead of Gen Z anniversary
Kenya police violence victims say compensation promise a 'smokescreen'
Boost for FKF boss Mohammed as procurement authority drops Sh42m CHAN probe
Shade of terror: Why calls for systemic change after Gen Z killings have not faded
Preparations for second edition of 'Run 4 Seniors' in top gear
Govt warns against violence as Gen Z protest anniversary nears
DIG Lagat assures of security ahead of June 25 Gen Z anniversary protests
Claims of police involvement in criminal activities are alarming
Court of Appeal should abandon its obsession with procedure and its decisions
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).