Business

Central bank to issue new Sh50 notes

Kenyans will soon access new Sh50 notes in exchange for the dirty and weary ones currently under circulation.

Central Bank of Kenya (CBK) governor Patrick Njoroge said that they will release another set of new notes, noting that the fifty shillings note is currently the most sought after and popular currency in the country.

“We are aware of Kenyans complaints about the few and torn Sh50 notes and we will be releasing a new set of notes any time from now,” he told the National Assembly Committee on Commission, Information and Innovation.

“What most people do not know is that the Sh50 note is the most commonly transacted currency in the market because most things are priced at Sh50  or at a value of Sh50. For instance most things are priced at Sh150, Sh250 or Sh450,” he said.

This popularity has led Kenyans to grabble looking for the few notes in circulation. This has also led them to wear out quickly hence the many torn and dirty- looking notes in the market.

Most are so torn and patched up with adhesive with business people unwilling to take them, hence affecting business transactions.

The governor also said that CBK is confident of winning the case in court that has delayed the printing of new currency because, according to them, they did the right thing during the tendering process.             

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