The Central Bank of Kenya (CBK) has today opened an ultra-modern cash-clearing unit in Kisii, to cater for financial needs of the wider Nyanza and Kisii region.
This development takes place owing to a growing number of financial institutions in the region.
The CBK has set up this money clearing centre in Kisii town at the ground and second floor of the Absa Bank Kisii branch. The Centre will serve seven counties in the region (Kisii, Nyamira, Migori, Bomet, Homa Bay, and parts of Narok and Kericho), a population of over 7 million people contributing about 12% of Kenya’s GDP.
Already, CBK has branches in Mombasa, Kisumu and Eldoret as well as Currency Centres in Nyeri, Nakuru and Meru.
These Branches and Currency Centres form a critical point for currency distribution to regional financial institutions.
The Kisii Centre was officially opened today by President Uhuru Kenyatta in the presence of the CBK Governor Dr Patrick Njoroge and senior Kisii County Government officials.
The Kisii Centre, the 4th such facility, is expected to support CBK’s currency operations across 7 Counties in the region.
This cash centre is expected to be involved in the distribution of notes and coins to commercial banks in the region.
The new currency centre in Kisii has been launched in collaboration with ABSA Bank Kenya, where the two institutions will share common facilities.
“All county governments will get better services from this center” said CBK Governor Dr Patrick Njoroge.
He added that the technology in this centre is world-class. The facility has a solar roof that will generate more energy with any excess energy fed to the national grid where it will be able to sustain up to 160 homes.
The centre is expected to support smooth banking operations for both the private sector and public institutions in the region.