The rollout of Kenya’s new generation currency will cost the Government approximately 15 billion Kenyan Shillings, in an exercise that is estimated to last three years. This is according to the Governor of the Central Bank of Kenya, Patrick Njoroge.
While appearing before National Assembly Departmental Committee on Finance and National Planning, the Governor, stated that the regulator would ensure a smooth transition within the stipulated deadlines.
Mr. Patrick said “We do not hope to go beyond three years and plan to spend 15 billion Kenyan Shilling, every year the government incurs expenditure that entails mopping all old notes as well as printing new ones,”.
He also said that due process was followed while launching the new currency, including public participation, which received varying opinions from the public, adding that “Those who did not agree went to court. We will make our case clear in court,”.
