Central Bank of Kenya Governor Dr. Kamau Thugge has disclosed that the printing of the new Kenyan currency banknotes is being done by a German company.
Speaking during a press briefing on Wednesday, August 7, Thugge noted that the firm was one of the best, but he did not give finer details about it.
"The printing is being done by a German firm and it is actually one of the best firms," Thugge remarked.
The CBK governor further maintained that the changes was a normal process of the bank, adding that the current banknotes were getting old.
"The change in the Kenyan bank notes is a normal process of the Central Bank of Kenya. The notes that we have are getting old and, therefore, we need to get new notes. That is really the reason," he stated.
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On Wednesday, CBK announced four changes to all Kenyan currency banknotes, which included the incorporation of the signature of the CBK Governor as well as that of National Treasury Principal Secretary Dr. Chris Kiptoo.
The new notes will also bear the year of print, which the bank stated is 2024, and they'll also have new security threads with colour-changing effects.
CBK noted that the release of the new banknotes will begin with the Sh1,000 notes, while other notes will follow subsequently.
"The reason we started with the Sh1,000 notes is that there could be a stockout in those notes and it was really necessary that we get new notes as quickly as possible," Thugge stated.
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