Central Bank to unveil new-look currency ‘soon’

Central Bank is set to unveil new-look currency after finalising the design and images.

The bank’s currency department says the new images and design were picked from the many proposals sent by the public after a call to Kenyans to send in ideas.

Central Bank is to replace the current currency in line with the Constitution, which bars use of portraits or images of individuals.

“We are finalising the details of the new-look notes but we can’t exactly say when we’ll start rolling out the new currency. That will happen when tenders for new notes and coins are issued,” Mr Samson Burgei, head of communication at CBK, told the Nation.

CBK had indicated that the notes and coins with new designs would be out by 2014 after deciding on the new design and enhanced security features to accompany the changes.

CBK says designs should reflect the spirit of the Constitution and the country’s development goals as enshrined in Vision 2030.

They must also be unique to Kenya, attractive, socially acceptable and culturally relevant.

“This is what the Constitution demands and we are moving to comply,” said Mr Burgei.

Bank notes and coins in circulation at the moment carry images of founding President Jomo Kenyatta and his successor, Daniel arap Moi, save for the Sh40 coin that carries an image of the current president, Mwai Kibaki.

Dominant Kenyan physical features, flora and fauna, and key economic activities such as agriculture, tourism and manufacturing, are expected to replace these presidential portraits.

Colours and sizes will also be reconsidered, a move that could force commercial banks to re-configure their ATMs and other currency dispensing machines.

The current currency will continue to circulate concurrently with the new design one.

The maximum lifespan of a note is three years while that of a coin is 25 years.

Any old currency left in circulation could still be acceptable legal tender for decades to come before CBK demonetises it.