Kenya Central Banker Sees Enduring Turnaround Even as Taxes Bite

Kamau Thugge insists his job running Kenya’s central bank is easy. Investors may be forgiven for doing a double take.

Two years ago, the International Monetary Fund warned that the East African nation was at risk of default, businesses were scrambling for hard currency and interest rates were on the rise. Now economic growth is accelerating, foreign-exchange reserves are at a record and a hunt for deals is in full swing.