KENYA BRINGS IN NEW BANKNOTES TO CURB CORRUPTION
June 1st, 2019
Kenyan President Uhuru Kenyatta and Central Bank of Kenya (CBK) Governor Patrick Njoroge have unveiled the latest weapon in the country’s battle against corruption, counterfeiting and money laundering with the introducion new banknotes. The Kenyan government requires old Kenyan Shilling KES1,000 (USD9.87) notes to be exchanged for the new bills by October 1, with the new KES50 (USD0.49), KES100 (USD0.99), KES200 (USD1.97) and KES500 (USD4.93) notes being phased in gradually. During the four-month transition period, people exchanging less than KES5 million ...
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