The Government of Kenya has quietly started printing money in Germany without informing the public, consulting Parliament, or following the usual channels of transparency.
According to reports by whistleblower Nelson Amenya, the move raises serious concerns about the motive, the legality, and the potential cost to Kenyan taxpayers.
Further, aside from changing the printing location, the design of Kenya’s currency has also been changed.
There has been no public announcement on such a matter, no explanation from the Central Bank, and no public participation forums held.
Moreover, Amenya has reported that the redesigned currency has already started rolling off presses in Europe.
“The Government of Kenya has quietly changed the design of our currency and is now printing it in Germany without any public disclosure or participation.
“In doing so, they breached a non-compete clause in the existing contract with De La Rue, a move that could cost taxpayers billions,” stated Amenya.
Further, Amenya notes that it raises concerns of the potential financial burden it could place on Kenyan taxpayers, likening it to the Arror and Kimwarer dam scandal.
“Reports indicate it was a contract awarded to Raila Odinga for his handshake with Ruto,” added Amenya.
Also Read: Why Print Bank Notes and Produce Coins When We Can Go Digital
Government Deal with German Company
In August 2024, the Central bank of Kenya (CBK) German made a deal with a German company Giesecke+Devrient Currency Technologies GmbH (G+D) D to print banknotes.
According to CBK, the exit of De La Rue and the shortage of Ksh1,000 banknotes pushed it to urgently seek a new currency printer.
Additionally, CBK explained that the decision to use a classified procurement process was necessary to align with global standards, where currency printing is typically treated as a sensitive and confidential matter.
Also, it noted that the move was also guided by the National Treasury, which recommended the classified approach.
Also Read: CBK Reveals German Firm Behind New Bank Notes, Explains Reasons for Change
The deal with Giesecke+Devrient Currency Technologies GmbH (G+D) is worth Ksh14.2 billion spreading through five-year period.
The design of the 2024-series banknotes is largely the same as the 2019 series.
However, the new banknotes also have the signatures of the CBK Governor and the PS National Treasury, as a Member of the Board, as has been practice since 1966.
The firm succeeds De La Rue which shut down its Nairobi plant in January 2023, after fulfilling its contract to deliver the 2019-series banknotes.
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