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| CBK to change kenyan bank notes |
The Central Bank of Kenya (CBK) has announced four new changes to Kenyan banknotes. The CBK said the first denomination of the new banknotes to be released will be the KSh 1,000. In a statement on Wednesday, August 7, the regulator noted the changes were made to various currencies, including the KSh 50, KSh 100, KSh 200, KSh 500, and KSh 1,000 notes. “In fulfilment of this mandate, the bank has made some changes to the denominations of the Kenyan currency banknotes. The changes affect the fifty shillings (KSh 50), one hundred shillings (KES 100), two hundred shillings (KSh 200), five hundred shillings (KSh 500) and one thousand shillings (KSh 1,000) currency banknotes,” the CBK stated. . What will the new Kenyan banknotes bear? The signature of the Central Bank of Kenya governor, Kamau Thugge.
The signature of the Principal Secretary, National Treasury, Chris Kiptoo. The year of print – 2024. New security threads with colour-changing effects that are specific to each denomination. CBK said the rest of the features would remain the same as those issued in 2019. The regulator clarified that all banknotes currently in circulation remain legal tender and will circulate alongside the released banknotes. “Release of the banknotes will commence with KSh 1,000, while other denominations will progressively follow in the coming months,” it added. Why did CBK introduce new banknotes? The new generation currency in Kenya is not just a matter of aesthetics but has a significant effect especially when it comes to the fight against corruption. At the unveiling of the new notes, the CBK mentioned that a lot of money was found in people’s residences by law enforcers. The banknotes capture the ‘Big Five’ and are also appropriately colour-coded, giving them a unique theme.
by Japhet Ruto
