Currencies

CBK mum on timeline for introduction of new-look currency

CBK Governor Patrick Njoroge. FILE PHOTO | NMG
CBK Governor Patrick Njoroge. FILE PHOTO | NMG 

The Central Bank of Kenya (CBK) Thursday remained mum on details of the planned introduction of a new-look currency.

This came as debate raged among Kenyans on how the new currency, including notes and coins, will look like.

The production of new currency notes that do not bear the images of former presidents was supposed to start after passage of the 2010 Constitution.
It is estimated the replacement will cost Sh18 billion.

Central Bank of Kenya (CBK) Governor Patrick Njoroge had told the Senate last year that there are risks issuing the new currency in an election year, due to security concerns, adding then that the regulator saw September 2017 (this month) as the preferred time to roll it out.