The Central Bank of Kenya has said it will issue the new generation currency in 2018.
“Our expectations is to issue the new generation currency by the end of the second quarter of 2018,” Said Dr. Patrick Njoroge the CBK Governor on Friday.
“We are doing this in consistent with the Constitution, the CBK Act and other laws,” he added.
The Governor said they are moving ahead with the production of the new issuance of the new generation currency. This is after after the Kenyan High Court Judge Chacha Mwita declined to stop the tendering process in a case which De LA Rue and De LA Rue Kenya EPZ Ltd had challenged the regulator’s decision to invite tenders from foreign firms to print the new design Kenyan currency.
On the start of its implementation, the Constitution had given the Central Bank a five-year period to replace the old currency with the new ones.