Joshua (Odhiambo) Oduor 
Nairobi, Kenya – August 7, 2024 – The Central Bank of Kenya (CBK) has announced the introduction of updated banknotes featuring enhanced security measures. This move, as part of the CBK’s mandate under Article 231 (2) of the Constitution of Kenya and Section 22 (2) of the Central Bank of Kenya Act, aims to bolster the security and integrity of the nation’s currency.
Key Updates on Kenyan Currency Banknotes
The newly issued banknotes include denominations of fifty shillings (KES 50), one hundred shillings (KES 100), two hundred shillings (KES 200), five hundred shillings (KES 500), and one thousand shillings (KES 1,000). These new notes feature:
- Governor’s Signature: Dr. Kamau Thugge, Governor of the Central Bank of Kenya.
- Principal Secretary’s Signature: Dr. Chris Kiptoo, National Treasury.
- Year of Print: 2024.
- Advanced Security Threads: Each denomination will have unique color-changing security threads to combat counterfeiting.
Printing by a German Company
Central Bank of Kenya Governor Dr. Kamau Thugge disclosed that the printing of the new Kenyan currency banknotes is being done by a German company. Speaking during a press briefing on Wednesday, August 7, Thugge noted that the firm was one of the best in the industry, although he did not provide finer details.
“The printing is being done by a German firm and it is actually one of the best firms,” Thugge remarked.
Circulation and Legal Tender
The CBK reassured the public that all current banknotes remain legal tender and will circulate alongside the newly introduced notes. The roll-out will commence with the KES 1,000 denomination, with other denominations to follow in the coming months.
Rationale for Change
Dr. Thugge maintained that the changes were a normal process of the bank, adding that the current banknotes were getting old. “The change in the Kenyan bank notes is a normal process of the Central Bank of Kenya. The notes that we have are getting old and, therefore, we need to get new notes. That is really the reason,” he stated.
Enhancing Security and Trust
The inclusion of new security features is a strategic move by the CBK to stay ahead of counterfeiters. The color-changing threads are specifically designed to provide an added layer of protection, making it easier for the public and businesses to verify the authenticity of the notes.
Financial Stability and Integrity
The CBK’s decision to update the banknotes aligns with global best practices in currency management. By continuously improving security features, the CBK ensures that Kenya’s financial system remains resilient and secure.
The Bank also highlighted that further details about the new banknotes are available on their official website. This initiative is part of CBK’s broader strategy to enhance financial stability and integrity in the country.
