The Central Bank of Kenya (CBK) is rolling out updated versions of its banknotes in KSh 1,000, KSh 500, KSh 200, KSh 100, and KSh 50 denominations.
The redesigned bills will feature the signatures of CBK Governor Dr. Kamau Thugge and Principal Secretary of the National Treasury, Dr. Chris Kiptoo, and will display the year 2024.
They will also incorporate new security threads with color-changing effects to enhance fraud protection.Governor Thugge stated that the decision to issue new notes was driven by the deteriorating condition of the old currency and the anticipated depletion of KSh 1,000 notes by mid-year.
The printing of the new notes is being handled by a renowned German firm, though its name has not been revealed. De La Rue, the previous printer, ceased operations in January 2023 due to decreased demand following a drop in CBK orders.
The new KSh 1,000 notes will enter circulation first, with the other denominations being introduced over the following months. Existing notes will remain valid and continue to be used alongside the new issues.
Philips Babatunde