Kenya Shifts to German Printer for New Currency Notes After De La Rue Exit
Kenya hires a German firm to print new banknotes, following De La Rue’s exit. The updated currency will feature enhanced security and design elements.
Kenya has appointed a German firm to handle all banknote printing operations, according to Central Bank of Kenya Governor Kamau Thugge.
The announcement was made during a post-Monetary Policy Committee (PMC) meeting on Wednesday.
Thugge emphasized that the selected German firm is regarded as “one of the best” in the industry. This move comes after De La Rue, the previous banknote printer, exited the Kenyan market in 2023 due to declining demand.
Thugge explained that the introduction of new banknotes aligns with Kenyan law and the need to replace aging currency. “It’s a standard procedure for the Central Bank. Our current notes are getting old, and it’s essential to update them,” he said.
The new notes will begin with the Ksh.1000 denomination, which will be phased out first. “We anticipate a potential stock out of Ksh.1000 notes, making it crucial to introduce new notes promptly,” Thugge added.
The updated banknotes will feature distinct changes, including a unique texture, the words “Kenya,” and the “1,000” digits with a tactile edge. The security thread will appear as a continuous line and change color when tilted, while a golden band indicating the note’s value will be visible under UV light. Additionally, the banknote’s value, the CBK initials, and a lion’s head watermark will be visible when held up to the light.
