According the Kenyan Wallstreet, there have been reports of a shortage of the newly launched Banknotes. However, the Central Bank Governor Dr. Patrick Njoroge in response, has said that the new notes will increase in circulation starting this week.
Dr. Njoroge made this known while appearing before the Public Investment Parliamentary committee telling the team that, “People will get their salaries in new banknotes this month,”
The new look notes were first issued on the 1st of June 2019 but they have been in short supply ever since.
The focus of Kenyans however, have been on the new generation 1,000 notes following CBK’s directive to demonetize the old 1,000 banknotes.
Dr. Patrick Njoroge stated that most banks have also reconfigured their Automated Teller Machines (ATMs) to be able to dispense the new notes.
The Governor of the Central Bank Of Kenya (CBK), let the parliamentarians know that they have begun supplying the new notes to Automated Teller Machines (ATMs) in far out areas in Kenya and highly populated areas such as Kisumu, Mombasa, and Nairobi.
The old 1,000 currency notes will stop being circulated on the 1st of October 2019.
However the old 500 Kenyan Shillings, 200 Kenyan Shillings, 100 Kenyan Shillings, and 50 Kenyan Shillings notes, will be phased out much more gradually.
