Kenya ready to present new banknotes

According to the Standard Digital News Kenya is ready to present the new banknotes this week which will be issued in February 2015.

Secretary to the Cabinet Francis Kimemia said that this was after cabinet last week approved the move to have the Central Bank launch the new notes. Kimemia said that the notes will depict the Kenyan tourism, economic engagements, culture and tourism. "The new notes will portray the true image of Kenya and our cultural, economic engagements and will be flagged out this week," he said. He notes that the relevant pictures have already been approved and Central Bank given a go ahead to use them.

The constitution demands that new currency notes be in circulation by February 2015 and they will range from 10 shilling to 1000 shiling. Kenya's current constitution is against the use of an individual's image on money. Article 231(4) of the constitution states that notes and coins issued by the CBK may bear images that depict or symbolize an aspect of Kenya but shall not bear any individual's portrait.

"This will be a land mark for this country as we want to have a currency that portrays the real image of the country. It will also be a chance to market the country since they will have pictures of our economic activities and the wildlife that we have," Kimemia said. Despite the introduction of the new look currency, the old currency in use before the new law was implemented will still be used as legal tender.

Update 16 January 2014:  here's an article describing all the problems that have risen between De la Rue and the Kenyan government. The best scenario is still February 2015 for the new banknotes but it could also be January 2016 if things don't go as planned.

Steven Tuesday 20 August 2013 at 10:09 am | | news
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