New Currency Look In 2017- CBK governor, Partrick Njoroge Promises.

    March 06, 2016   No comments

kenyan money
Kenya will start using new look bank notes late next year. As part of the new constitution implementations, Central Bank of Kenya governor, Patrick Njoroge told the Senate last week that the notes will be out starting September 2017,though the process was far much out of time range according to the constitution adopted in 2010.


The 2010 adopted constitution provides that the legal tender must not bear any person's images including the former or ruling president. It should carry something that is unique to the country for example geographical features or economic activities.This will see former presidents Moi and Kenyatta portraits missing from our bank notes.

The Kenyan currency in circulation currently include coins of the following denominationsksh1,ksh5,ksh10,ksh20 and ksh40.Coins not in circulation are ksh1000 and ksh5000 which bear former president, Mwai Kibaki's portrait together with the ksh40 coins in circulation.Kenyan shillings bank notes in circulation include;ksh50,ksh100,ksh200,ksh500 and ksh1000 which bear either former president Moi or Kenyatta's portraits.

According to the CBK, the process to retrieve current look currency out of circulation will cost kenya a total of ksh18 billion.

Source;BD
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Mwabaya Katana

Posted By Mwabaya Katana

Mwabaya Katana is a Personal Finance online writer.He is the founder of 'Loans Kenya' Blog.

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