CBK faces litmus test in fresh multi-billion-coin minting tender

Central Bank Governor Kamau Thugge when he appeared before the National Assembly Finance and National Planning Committee on the printing of new currency notes at Parliament on August 21, 2024. [Boniface Okendo, Standard]

The Central Bank of Kenya (CBK) has moved to prequalify candidates for a multibillion-shilling coin minting tender, in a move that comes under scrutiny following past controversies surrounding its procurement practices.  

The pre-qualification process aims to identify qualified coin minters for the hotly contested tender. 

This public tender contrasts with the previously much-criticised $109.42 million (Sh15 billion) tender for new currency notes awarded to a German firm, Giesecke+Devrient Currency Technologies GmbH (G+D), citing a lack of transparency in the tendering process.