Central Bank of Kenya announces issue of new banknotes

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  • The Central Bank of Kenya (CBK) noted that changes have been made to several currencies including the KSh50, KSh100, KSh200, KSh500 and KSh1,000 banknotes
  • CBK clarified that all banknotes currently in circulation will remain legal tender and will circulate alongside the released banknotes
  • New banknotes will bear the signatures of Central Bank of Kenya Governor Kamau Thugge and Finance Minister Chris Kiptoo

TUKO.co.ke journalist Japhet Ruto has more than eight years of experience in financial, companyand technology reporting, providing in-depth insights into Kenyan and global economic trends.

The Central Bank of Kenya (CBK) has released new banknotes with new features.

A man holds KSh 1,000 banknotes.
The Central Bank of Kenya said it started issuing new banknotes with the currency KSh 1000. Photo: Richard Darko.
Source: Getty Images

In a notice on Tuesday, November 20, the regulator said the release of the notes had started with KSh 1,000 notes.

What are the characteristics of new banknotes?

  • The signature of the Governor of the Central Bank of Kenya, Kamau Thugge.
  • The signature of the Chief Secretary of the National Treasury, Chris Kiptoo.
  • The year of release – 2024, and;
  • New security threads with color changing effects specific to each denomination.

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CBK said that all other current notes remain legal tender and will continue to circulate alongside the released banknotes.

“We would like to inform the public that the issuance of KSh 50, KSh 100, KSh 200 and KSh 500 denominations is now underway. Apart from the changes highlighted above, all other features of the banknotes remain the same as those of the issued series. in 2019,” CBK said.

Why did CBK introduce new banknotes?

The new generation currency in Kenya is not just a matter of aesthetics but also has a significant impact, especially in the fight against corruption.

When unveiling the new banknotes, the CBK stated that law enforcement officials had done so found a lot of money in people’s homes.

The banknotes conquer the ‘Big Five’ and are also appropriately color coded, giving them a unique theme.

A man from Nairobi finds old banknotes

In other news, a Nairobi man asked for help and advice to exchange the old KSh 40,000 banknotes his boss handed it over.

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Samson Kipng’etich said he recently received the money from his employer, who told him to use it to better himself if he finds a way to convert it into the current currency.

However, he was disappointed that the Central Bank of Kenya no longer accepts this old banknotes.

Proofreading by Mercy Nyambura Guthua, journalist and editor at TUKO.co.ke

Source: TUKO.co.ke