CBK puts on sale 281 tonnes of old coins for smelting

Kenyan coins. Kenya’s Central Bank is selling 281 tonnes of old coins for smelting to make way for new currency.

Photo credit: File | Nation Media Group

Patrick AlushulaThe Central Bank of Kenya (CBK) has put on sale about 281 tonnes of old and unserviceable coins, marking one of the unique asset-disposals undertaken by the regulator in recent years.

In a tender notice, CBK announced that it is seeking eligible companies —mainly metal smelting foundries and coin-minting firms— to buy and melt the coins that are unfit for further circulation due to being worn out or mutilated.

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