Edit October 12, 2018: The Central Bank of Kenya (CBK) announced that the Court of Appeal had agreed with the High Court that there was no collusion between CBK and De La Rue and that the CBK acted within the law in procuring the notes and applying a presence margin of 15% in evaluating De La Rue’s bid. This now clears the way for CBK to proceed with the printing and supply of new-generation bank notes.
Original Sep 28 2017: The look of Kenya’s currency bank notes and coins have not changed in over a decade but that may soon change.
While a case has been filed by an activist Okiyah Omtatah demanding that the Central Bank of Kenya (CBK) print new notes and coins immediately, it will not be the immediate reason for any change. In responding to a Q&A after a monetary policy briefing last week, the Central Bank of Kenya Governor, Dr. Patrick Njoroge, said they while they do not respond to claims (that they were deliberately keeping the portrait of the first president to perpetuate hero-worship), he mentioned that Kenya’s new generation currency will be consistent with the constitution and CBK Act.
Kenya’s 2010 constitution approved by a referendum has section 231 (4) that reads “Notes and coins issued by the Central Bank of Kenya may bear images that depict or symbolise Kenya or an aspect of Kenya but shall not bear the portrait of any individual“
The new Kenya currency bank notes and coins are expected to be produced by De La Rue, under a joint venture partnership in which the Kenya government has a 40% stake. That said, some images that have been shared on social media are apparently not genuine depictions of the new notes.
CENTRAL BANK KENYA: Pictures Circulating on Social media on "New Currency Notes" are FAKE👇👇👇👇👇 pic.twitter.com/G56Gr9Z5iS
— Kenyanwallstreet (@kenyanwalstreet) September 20, 2017
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