The Central Bank of Kenya (CBK) has disclosed that the release of the Ksh50, Ksh100, Ksh200 and Ksh500 banknotes is now in progress after commencing with the Ksh1000 banknotes.
In a statement on Wednesday, November 20, CBK noted that the new banknotes will have the signature of the Governor of the Central Bank of Kenya, Dr. Kamau Thugge, and the signature of the Principal Secretary, National Treasury, Dr. Chris Kiptoo.
They will also contain the year of print, which is 2024, and new security threads with colour-changing effects that are specific to each denomination.
"We wish to update the public that the release of KES 50, KES 100, KES 200, and KES 500 denominations is now in progress. Other than the changes highlighted above, all other features of the banknotes remain the same as those of the series issued in 2019," CBK remarked.
The bank maintained that all other banknotes currently in circulation will remain legal and will circulate alongside the new ones.
Read More
"We also would like to draw the public’s attention that all other banknotes currently in circulation remain legal tender and will continue to circulate alongside the released banknotes," CBK stated.
In August, the CBK boss disclosed that the bank had to procure new Kenyan currency banknotes because the country was at risk of a stockout of currency banknotes.
In a report presented to Parliament, Thugge noted that there was a looming stockout of the Sh1,000 banknotes.
"Around mid-2023, CBK determined that the country was at risk of a stockout of currency banknotes. A stockout has significant economic and national security risks.
"There was an imminent stockout of the banknotes particularly the Ksh1000 which would have resulted in serious economic and security implications for the country. There was thus an urgent need for the currency procurement," read part of the report.
-1683725821.jpg)
