News

The Central Bank of Kenya (CBK) will release this week the details of the planned release of the new currency. CBK Governor Dr. Patrick Njoroge said on the sidelines of the 4th Kenya Bankers Association Annual Banking Research Conference without divulging further details.
The National Treasury Cabinet Secretary Mr. Henry Rotich had said that the launch of the new currency had been set in motion and was nearing completion.


The new currency is expected to be in the notes of 50, 100, 200, 500 and 1,000 shillings.  The introduction will be accompanied by massive public campaign to sensitize wananchi. This will be followed by the subsequent withdrawal of the current currency in phases.  In 2012, CBK sought a new image for the local currency notes and coins, in adherence to the constitution. Article 231(4) of the constitution bars the use of portraits or images of individuals on currency, stating that notes and coins should only bear images that depict or symbolize an aspect of Kenya.
The regulator had called for proposals on designs whose themes depict the country’s prosperity as outlined in Vision 2030.  The last new denomination and currency design was the Ksh.40 coin in 2003 which has a portrait of retired President Mr. Mwai Kibaki.
CBK began printing Kenyan bank notes in 1966 under the mandate given to it by the Central Bank of Kenya Act Cap 491.

========================== E N D =======================================