Current Ksh1000 Notes To Be Phased Out By October 1

Old Currency Notes. [PHOTO/ COURTESY]

Central Bank of Kenya (CBK) governor Patrick Njoroge has announced that all the older Ksh1000 note series shall be withdrawn.

Persons holding the notes have been given until October 1 2019 to exchange these notes, after which they will cease to be legal tender.

This happened as the government launched new series of notes, that will phase out the older ones.

“We have assessed the grave concern that our arge banknotes—particularly the older Ksh1,000 series—are being used for illicit financial flows in Kenya and also other countries in the region,” he said.

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“More recently we have seen the emergence of some counterfeits. These are grave concerns that would jeopardise proper transactions and the conduct of commerce in our currency.”

All notes bear the image of KICC.

They also have each of the Big Five animals.

“The new banknotes bear a significant aspect of our nation, and like the coins, will serve as a means of passing knowledge, conserving culture and promoting our global uniqueness. All bank notes bear the image of Kenyatta International Conference Centre, one of the most iconic and recognisable landmarks in our country. The banknotes also embody each of the big five; nyati, chui, kifaru, simba, and ndovu,” said Njoroge.

New note series launched today by CBK [PHOTO/ CBK]
Ksh50 is for green energy, Ksh100 for agriculture, Ksh200 social services, Ksh500 for tourism and Ksh1,000 for governance.