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NEWS & CURRENT AFFAIRS

The Nairobian

Kenya to launch new currency notes this week

Business

By James Munyeki | Aug 19, 2013

A Sh10 note used in the past. The new currency notes will range from Sh10 to Sh1000

By James Munyeki

Kenya: The Government is this week expected to launch new currency notes in line with the constitution.

Secretary to the Cabinet Francis Kimemia said that this was after cabinet last week approved the move to have the Central Bank launch the new notes.

Kimemia said that the notes will depict the Kenyan tourism, economic engagements, culture and tourism.

“The new notes will portray the true image of Kenya and our cultural, economic engagements and will be flagged out this week,” he said.

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He notes that the relevant pictures have already been approved and Central Bank given a go ahead to use them.

The constitution demands that new currency notes be in circulation by February 2015 and they will range from Sh10 to Sh1000.

Kenya’s current constitution is against the use of an individual's image on money.

Article 231(4) of the constitution states that notes and coins issued by the CBK may bear https://cdn.standardmedia.co.ke/images that depict of symbolize an aspect of Kenya but shall not bear any individual's portrait.

“This will be a land mark for this country as we want to have a currency that portrays the real image of the country. It will also be a chance to market the country since they will have pictures of our economic activities and the wildlife that we have,” Kimemia said.

The last new currency design, the Sh40 coin, was introduced in 2003 to commemorate 40 years of independence and had a portrait of former President Mwai Kibaki

Despite the introduction of the new look currency, the old currency in use before the new law was implemented will still be used as legal tender.