CBK Unveil New-Face of the Kenyan Currency
The Central Bank of Kenya has today unveiled new generation coins that are set to start circulating in a weeks’ time.
The printing tender was won by De La Rue a British company after beating three other companies- German firm Giesecke & Devrient, Swidish company Crane Currency and Oberthur Fiduciaire of France.
The unveiling of the new face of the Kenyan currency was presided by President Uhuru Kenyatta, also present was the CBK Governor Patrick Njoroge. The new coins coin features that are accessible to people who are visually impaired. The KSH1 bears the image of a Giraffe, KSH5 bears the image of a Rhino, KSH10 bears the image of a Lion and that of a KSH 20coin bears the image of an elephant.
The unveiling of the new face of Kenyan currency is in line with the provision of the 2010 Constitution that banned the use of presidential portraits in the Kenyan currency. Article 231(3) the Constitution Article (4) requires that notes and coins bear images that depict or symbolize Kenya or an aspect of Kenya. The Consumer Federation of Kenya Cofek had written to the CBK Governor pointing out the lack of public participation in the decision to use the various symbols.
The cost of printing is up KSH 5bn more to KSH 15bn due to delays and the introduction of a coat of varnish that will prolong life in circulation as well as reduce wear and tear.
Market regulator will roll out a campaign to create awareness on educating the public on the new face currency as the old currency is gradually faced out.