Tuesday, June 28, 2022

Kenya’s new banknotes and the battle against corruption

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Kenya’s President Uhuru Kenyatta has announced that the country’s currency is to be replaced with a new generation of banknotes.

Kenyans must return their 1,000 shilling ($10; £8) notes to banks by 1 October, in a bid to fight money laundering, counterfeits and corruption.

New currency is to be brought in over the coming months with other denominations being phased out gradually.

Some Kenyans have expressed anger over the new banknote design, which features an image of a statue of Kenya’s first President, Jomo Kenyatta – the current president’s father.

The decision on the design, as well as the clampdown on the 1,000 shilling notes, has been challenged in court.

SourceBBC NEWS

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