CBK unveils new generation bank notes

The new banknotes unveiled by the Central Bank of Kenya during the Madaraka Day celebrations [ Photo, Courtesy]

The Central Bank of Kenya on Saturday unveiled new banknotes during the 56th Madaraka Day celebration held in Narok County.

The new bank notes were issued yesterday by a gazette notice and are now legal tender. They will circulate alongside the old ones.

However, CBK governor Dr Patrick Njoroge said all old Sh1,000 series notes have been withdrawn and Kenyans have until October 1 to exchange the older notes for newer ones to curb illicit finance.

“We have assessed the grave concern that our large bank notes, particularly the older Sh1,000 series, are being used for illicit financial flaws in Kenya and also other countries in the region. To deal with those concerns, all the older Sh1,000 series shall be withdrawn by a Gazette Notice dated May 31, 2019, all persons have until October 1, 2019 to exchange those notes, after which the older Sh1,000 bank notes will cease to be legal tender,” Njoroge said.

He added that the new notes would help check the increasing cases of counterfeits in the country.

"More recently we have seen the emergence of some counterfeits. These are grave concerns that would jeopardise proper transactions and the conduct of commerce in our currency." Njoroge said.

In his address during the Madaraka celebrations, President Uhuru Kenyatta said the ongoing war on corruption will continue with no reluctance.

“The war against corruption, is a war we are undertaking with no joy, but one that will continue with no reluctance. I will not stop until the house we inherited from our forefathers has been swept clean” he said.

Design Features

All the bank notes bear the image of Kenyatta International Convention Center. They also embody each of the big five animals (Lion, Elephant, Rhino, Buffalo and Leopard).

Dr Njoroge said the new currencies have designs that meets the CBK requirements, serve the public aspirations and capture the spirit of the constitution.

The 50 shillings note bears https://cdn.standardmedia.co.ke/images that symbolise green energy at the back while that one of Sh100 bears agriculture-related https://cdn.standardmedia.co.ke/images.

The Sh200 notes bear https://cdn.standardmedia.co.ke/images of social services, the Sh500 tourism https://cdn.standardmedia.co.ke/images and the highest value Sh1000 note displays governance https://cdn.standardmedia.co.ke/images.

The notes have features that make them accessible to the visually impaired people.