News in Brief

Kenya Selects New Banknote Printer

The Central Bank of Kenya has revealed that it has signed a five-year banknote contract worth KES 14.2 billion ($109 million) with Giesecke+Devrient for its new banknotes, replacing the incumbent printer, De La Rue.

The current series was issued in 2019 and, according to the Bank, the switch was prompted by De La Rue’s decision to mothball its Nairobi printing facility (in which the government holds a 40% stake), in 2023 due to a lack of new orders.

Under the five-year agreement, Kenya will receive 2.04 billion banknotes to replace damaged or worn-out notes. The new notes will include 460 million KSh 50 notes, 690 million KSh100 notes, 260 million KSh200 notes, 170 million KSh 500 notes and 460 million KSh 1,000 notes.

The notes will be dated 2024, and whilst the overall design will remain consistent with the 2019 series, they will include new security threads with colour changing effects unique to each denomination. The new KSh 1,000, which has already been unveiled, includes a RollingStar® i+ thread from Louisenthal.