Printing of the new generation currency will cost Ksh15 billion,the Central Bank of Kenya has said.
De La Rue, after year-long long protracted legal battle to retain printing tender, will produce the new notes that will contain a fresh coat of varnish to reduce wear and tear thereby prolonging circulation life.
“Government Consolidated Fund (GRF) resources are needed for provision of new generation currency in line with the 2010 Constitution,” CBK said in a statement.
In 2017, De La Rue beat German firm Giesecke & Devrient, Swedish firm Crane Currency and Oberthur Fiduciaire of France for the printing contract.
