New generation bank notes introduced by CBK

The new banknotes introduced by the Central Bank of Kenya. PHOTO/CBK
The new banknotes introduced by the Central Bank of Kenya. PHOTO/CBK

The Central Bank of Kenya has introduced new generation banknotes, which were unveiled on Saturday during the Madaraka Day celebrations. The new 50, 100, 200, 500 and 1000 notes bear the image of the Kenya International Conference Centre (KICC), and like the new generation coins, also bear the ‘Big Five’-Buffalo, Leopard, Rhino, Lion, and Elephant.

They also have features which show the richness of Kenyans and nature according to the Central Bank of Kenya Governor Patrick Njoroge. The Kshs 50 note portrays Green Energy, the Kshs 100 note-Agriculture, the Kshs 200 note-Social services, the Kshs 500 note-Tourism and the Kshs 1000 note-Governance. The CBK Governor said the introduction of the notes is in accordance to the Constitutions and were issued on May 31st by a gazette notice, “They are now legal tender.” The bank notes also bear features that make them more accessible to the visually impaired.

The new notes will be issued along the older notes, however, the older Kshs 1000 notes will be withdrawn by October 1st following concerns that they are being used for illicit financial flows. “By a Gazette Notice dated May 31st, 2019, all person have until October 1, 2019, to exchange those notes, after which the older one thousand shillings banknotes will cease to be legal tender,” he said.