Banknote printer De La Rue has spent Sh2.7 billion (£15.1 million) to lay off staff, pay lawyers and write off its assets as it closes down operations at its Nairobi unit due to low currency and cheques printing business.
The multinational firm, which has been printing notes for Kenya through a local joint venture that is 40 percent owned by the Kenyan government, says in the latest trading update that it has now fully closed its notes printing line and is at the tail end of shutting down the cheques business.
