De La Rue team queries report on Sh1.8bn loss

• The UK company said the alleged loss was the difference between the cost of producing new generation money and that of printing the old notes, which had fewer security features.
• De La Rue, however, welcomed the Parliamentary Accounts Committee (PAC) backing of the proposed joint venture in which the government is to spend Sh655 million to acquire a 40 per cent stake in the firm.
• De la Rue said biennial reviews embedded in its long-term contracts with CBK ensured the contracts were not far off prevailing market conditions.

“This logistical issue was not foreseen in the tender agreements,” Mr Denham said.