The Central Bank of Kenya (CBK) has made significant changes to several denominations of the Kenyan currency banknotes. These changes, which began with the Sh1,000 note in August 2023, now extend to the Sh50, Sh100, Sh200, and Sh500 banknotes. The CBK officially announced that the release of these denominations is in progress, marking another milestone in the evolution of Kenya’s currency system.
The most notable changes in the new banknotes include updated signatures, new security features, and a shift in the year of print. The signature of CBK Governor Kamau Thugge and Principal Secretary of the National Treasury, Chris Kiptoo, now appears on the affected denominations. These changes are part of the ongoing efforts to enhance the security and integrity of the national currency.
The year of print for the new notes is updated to 2024, signaling that these are the most recent issues in Kenya’s currency series. A key innovation in these updated denominations is the introduction of color-changing security threads, a unique feature designed to distinguish each note. These threads, which change color depending on the angle of viewing, serve as an added layer of security against counterfeiting, a growing concern in many countries globally.
While the changes primarily focus on the signatures, security features, and the year of print, the CBK has reassured the public that the overall design of the banknotes remains the same. The features and elements of the 2019 series, launched by former President Uhuru Kenyatta during the Madaraka Day celebrations, remain intact. This means the images, symbols, and portraits, including those of iconic Kenyan figures, still characterize the currency notes.
One important point emphasized by the CBK is that all existing banknotes, including those released prior to 2024, will continue to be legal tender. This means that there is no immediate deadline for exchanging the old notes, and they will continue to circulate alongside the newly released denominations. This move ensures a smooth transition as the public adjusts to the new banknotes, and helps avoid any disruptions in daily financial transactions.
The release of the Sh50, Sh100, Sh200, and Sh500 denominations follows the August 2023 introduction of the Sh1,000 note. These changes are consistent with the CBK’s legal mandate to issue currency as conferred by the Constitution of Kenya. According to Article 231(2) of the Constitution and Section 22(2) of the Central Bank of Kenya Act, the CBK is tasked with issuing and managing the country’s currency.
The changes made to the banknotes are part of a broader effort by the CBK to combat counterfeiting, ensure the integrity of the country’s financial system, and introduce more secure and modern features to the national currency. Counterfeiting has long been a challenge, not only in Kenya but globally, and these new security measures aim to safeguard the Kenyan economy by reducing the circulation of fake money.
In addition to the updated banknotes, the CBK also continues to manage the circulation of the new generation coins, which were launched in December 2018. These coins were introduced to complement the updated banknotes and have been in active circulation since.
The ongoing adjustments to Kenya’s currency serve as part of the CBK’s commitment to keeping the nation’s financial system up-to-date and secure. The bank encourages the public to familiarize themselves with the new features of the currency notes, which are available for viewing on the CBK’s official website.
With the introduction of these changes, Kenya moves a step closer to ensuring its currency is both secure and resistant to fraud, while maintaining its relevance in the modern economic landscape.
