Central Bank of Kenya (CBK) Governor Kamau Thugge has been summoned to Parliament to explain details of a contract with an undisclosed German firm to print new bank notes. The Finance and National Planning Committee is investigating the deal, seeking information on the firm’s name, tender process, and total cost. The German company was hired after the local subsidiary of British printer De La Rue closed down. The new notes will have enhanced security features and be signed by Dr. Thugge and Treasury PS Chris Kiptoo. The German printer will take over the contract from De La Rue, who ceased operations in 2023, leading the way for the new currency printing deal. The Governor highlighted the need for new notes due to the current stockout projection and reassured the public that the new features will ensure the currency’s integrity.
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