Another scandal loading as CBK Governor KAMAU THUGGE reveals printing of new currency notes will cost Kenyans Sh 14.2 billion.

Wednesday, August 21, 2024 - Central Bank of Kenya (CBK) Governor Kamau Thugge has disclosed to Parliament that printing Kenya’s new currency notes will cost taxpayers Sh14.2 billion.

Appearing before the National Assembly Finance Committee chaired by Molo MP Kimani Kuria, Thuggge said the cost of printing money is slightly lower than De Larue which was charging 3 million dollars more.

Thugge also told the committee that the tender was approved by Cabinet and with the concurrence of the Attorney General.

Thugge also informed the committee that a German firm had been awarded the contract to print the new currency.

However, Thugge declined to specify whether the new printer was contracted through competitive or direct procurement.

The new banknotes will be signed by Dr. Thugge and Treasury Principal Secretary Chris Kiptoo.

They will have the printing year of 2024 and new security threads with color-changing effects specific to each denomination.

 CBK said the rest of the features will be the same as those of the 2019 series.

The Kenyan DAILY POST