Author Topic: Kenya: New Series of Coins and Banknotes 2018  (Read 11137 times)

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Offline Figleaf

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Kenya: New Series of Coins and Banknotes 2018
« on: November 20, 2009, 11:30:24 AM »
Draft constitution: Kenya currency to exclude portraits
By JEVANS NYABIAGE, Posted Wednesday, November 18 2009 at 13:43

Kenya’s coins and notes will not bear the portrait of any individual if the proposals in the new harmonised draft Constitution of Kenya are adopted.

The Committee of Experts, in a draft Constitution released on Tuesday, propose, "Notes and coins issued by the Central Bank of Kenya may bear images that depict or symbolise Kenya or an aspect of Kenya but may not bear the portrait of any individual."

This means that former presidents Jomo Kenyatta and Daniel Moi will be the only last personalities to have had portraits on the Kenyan currency.

Kenyans have a month to make their contributions on what they think of the proposals before changes are made to the draft constitution.

A referendum is scheduled for early march next year.

If the referendum agrees to adopt the constitution, it will see the Central Bank governor hold office for a term of six years and not be eligible for re-appointment.

The Central Bank board members appointed by the president with approval of the National Assembly, will hold office for five years and only be eligible for appointment for one further and final term.

Currently, the governor and other Central Bank’s board of directors hold office for a term of four years and are eligible for reappointment once and not more than two terms.

The history of Kenyan currency dates back to 1966, when the Central Bank of Kenya issued notes in denominations of Sh5, Sh10, Sh20, Sh50 and Sh100.

The Sh5 notes were replaced by coins in 1985, with the same happening to Sh10 and Sh20 in 1994 and 1998.

In 1986, Sh200 notes were introduced, followed by Sh500 shillings in 1988 and Sh1,000 in 1994.

Kenya’s first President Jomo Kenyatta appeared on the banknotes issued until 1978, with President Daniel Moi’s portrait replacing him in 1980.

In 2003, after President Mwai Kibaki replaced Moi, Sh5, Sh10, and Sh20 notes from the 1978 series with Kenyatta’s picture that had been in storage were issued, and circulated for a time.

A new series of notes was then introduced on which Kenyatta reappeared with denominations of Sh50, Sh100, Sh200, Sh500 and Sh1,000.

The issue of December 12, 2003 commemorates the '40 years of Independence 1963-2003'.

The banknotes are printed in Nairobi by De La Rue.

Source: Daily Nation
« Last Edit: September 06, 2015, 07:37:55 PM by Niels »
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Galapagos

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Re: Kenya: New Series of Coins and Banknotes 2018
« Reply #1 on: November 20, 2009, 01:29:36 PM »
Kenyan coin designs are of course as lacking in merit as their politicians. Perhaps we will get some decent wildlife designs at long last, to keep us European coin collectors happy.

Offline Figleaf

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Re: Kenya: New Series of Coins and Banknotes 2018
« Reply #2 on: November 20, 2009, 11:13:24 PM »
Frankly, I think taking the politicians off the coins is a sign of political maturing, something African countries could use. Animals on coins? Why not? Just about anything is better than dead maffia bosses calling themselves president, or, even worse, live maffia bosses calling themselves president.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Zantetsuken

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Re: Kenya: New Series of Coins and Banknotes 2018
« Reply #3 on: December 05, 2009, 04:50:04 PM »
Frankly, I think taking the politicians off the coins is a sign of political maturing, something African countries could use. Animals on coins? Why not? Just about anything is better than dead maffia bosses calling themselves president, or, even worse, live maffia bosses calling themselves president.

Peter

lol> I agree Peter. It's not just in African nations unfortunately. Take Turkmenistan for example (sorry if it seems that I'm changing the subject). President: Sapurmurat Niyazov has his image on just about every coin or note issued since he took power. Even Kim Jong Il of North Korea doesn't do this, and he is one of the biggest ego-maniacs there are. This proposal for Kenya sounds like a good one, and maybe a good example for other nations as well, Africa and abroad. This is just my opinion though.

~Daniel.

Galapagos

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Re: Kenya: New Series of Coins and Banknotes 2018
« Reply #4 on: December 05, 2009, 04:54:10 PM »
Yes, even as World Dictator I have no desire to place my beauteous image on a coin. Niyazov died three years ago, incidentally. One of his favourite punishments was to boil his political enemies alive. He must have watched too many James Bond movies...

Offline Zantetsuken

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Re: Kenya: New Series of Coins and Banknotes 2018
« Reply #5 on: December 05, 2009, 05:03:25 PM »
Yes, even as World Dictator I have no desire to place my beauteous image on a coin. Niyazov died three years ago, incidentally. One of his favourite punishments was to boil his political enemies alive. He must have watched too many James Bond movies...

Wow! I must be getting behind on my current events. I wasn't aware that Niyazov died. I do however, remember hearing about him boiling his enemies alive. Obiously not all of his spark plugs were firing. I loved your last line. Either Niyazov was watching either too Bond movies, or slasher flicks. Still a scary man none the less.

~Daniel

Offline Bimat

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Re: Kenya: New Series of Coins and Banknotes 2018
« Reply #6 on: March 09, 2012, 04:26:32 AM »
Kenya currency set for new look

Thursday, 08 March 2012 00:16 BY LOLA OKULO

THE Central Bank of Kenya is seeking a new image for the local currency's notes and coins in adherence to the current constitution which is against the use of an individual's picture on Kenyan money. CBK yesterday called for proposals on designs whose themes reflect a new chapter in Kenya's history in light of the new constitution and depict the country's prosperity as outlined in Vision 2030. The public has until April 13, to present its proposals on the new currency.

Article 231(4) of the constitution states that notes and coins issued by the CBK may bear images that depict of symbolize an aspect of Kenya but shall not bear any individual's portrait. Kenya started minting its own currency in 1966 with the initial denominations all bearing former president Jomo Kenyatta's portrait.

“The Central Bank hereby invites individuals, institutions, institutions, organizations and professional bodies to present in writing, proposals on elements/features to be considered for incorporation in the design of the proposed new Kenyan currency banknotes and coins,” said the CBK in a statement published yesterday in a local daily.

CBK is looking for designs that include dominant physical features that reflect any aspect of the country like agriculture, sports and tourism among others. Proposed designs should also be able to portray the nation's natural treasures, culture and heritage or include flora and fauna unique to Kenya, said the banking industry regulator. Current denominations of banknotes and coins in circulation are 5cent, 10 cent, 50 cent, 1 shilling, 5 shilling, 10 shilling, 20 shilling and 40 shilling coins and in note form; 50 shilling, 100 shilling, 200 shilling, 500 shilling and 1,000 shilling. Each denomination has a portrait of either Kenyatta or immediate former president Daniel Arap Moi at the front and a unique natural resource or economic activity theme at the back.

The last new denomination and currency design was introduced the 40-shilling coin in 2003 which had a portrait of President Mwai Kibaki despite him having said he will not change currency images to put his picture on money when he took over presidency in 2002. The Sh40 coin was introduced then in commemoration of 40 years of independence. In its quest for a new design, CBK has emphasized that: “the design elements must be unique to Kenya, attractive, socially acceptable and culturally relevant while creating harmony among Kenyans.”

Despite the introduction of the new look currency, the old currency in use before the new law was implemented will still be used as legal tender. This is in line with Sixth schedule (Article 262), section 34 of the Constitution. It states : “Nothing in Article 231 (4) affects the validity of coins and currency notes issued before the effective date.

Source: The Star
« Last Edit: April 05, 2012, 07:48:45 AM by Bimat »
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Offline augsburger

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Re: Kenya: New Series of Coins and Banknotes 2018
« Reply #7 on: March 10, 2012, 07:09:22 AM »
Any idea where you can see the actual thing for the design?

Offline Pabitra

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Re: Kenya: New Series of Coins and Banknotes 2018
« Reply #8 on: May 15, 2015, 08:37:31 AM »
Any news about new look coin series?

The constitutional mandate expired today.

OR is it Who is bothered about the law situation, which prevails in third world countries?

Offline haaseizhere

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Re: Kenya: New Series of Coins and Banknotes 2018
« Reply #9 on: May 29, 2015, 11:18:31 AM »
They are still printing money dated 2010 and using coins with the date of 2010 on them.  I guess they feel this meets the requirements as long as there is no new date after the new constitution they feel they meet what the constitution states.

Offline eurocoin

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Re: Kenya: New Series of Coins and Banknotes 2018
« Reply #10 on: July 08, 2015, 04:58:45 PM »
On November 4, 2014 the tender for mints to qualify for minting the new coins closed so I suppose that the coins are currently being minted and will be unveiled and released later this year.

Offline Pabitra

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Re: Kenya: New Series of Coins and Banknotes 2018
« Reply #11 on: July 08, 2015, 05:35:59 PM »
What is the status of common currency zone of East African Union, which was also planning to implement the accord this year?

Offline Bimat

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Re: Kenya: New Series of Coins and Banknotes 2018
« Reply #12 on: September 07, 2015, 07:17:52 AM »
Kenya: Follow the Law On New Kenyan Currency

4 SEPTEMBER 2015

OPINION

By Emman Omari

Seven Kenyans, led by one Muchiri Mithamo, have this week petitioned Parliament not to allow the removal of founding President Mzee Jomo Kenyatta's portrait from the national currency.

National Assembly Speaker Justin Muturi forwarded the petition to the Finance Committee.

Let us not pretend. This is another attempt by conservative forces to slow down the implementation of the Constitution.

Article 231 (4) of the Constitution states: "Notes and coins issued by the Central Bank of Kenya may bear images that depict or symbolise Kenya or an aspect of Kenya but shall not bear the portrait of any individual."

At independence the East African Shilling, notes and coins, bore the portrait of King George VI and his successor Queen Elizabeth II. The East African Currency Board had agreed on a common currency for the region.

But all this changed on June 10, 1965 when Tanzanian, then Ugandan Finance ministers announced in their Budget speeches that they will print their own currency notes with the portraits of their leaders.

This news came in as Kenya's Finance minister James Gichuru was reading the Budget. Mr Gichuru immediately went off the written text and told MPs amid applause: "We are also going to mint ours bearing the portrait of our founding President Mzee Jomo Kenyatta." The new currency was issued in 1966 and for 15 years, it was in the pockets of Kenyans.

When President Daniel arap Moi took power in 1978, Mzee Kenyatta's portrait was replaced by his.

The biggest mistake this time round was that the new regime hardly gave enough time for transition from one currency to the other.

ARBITRARY CHANGES

When President Mwai Kibaki took power in 2003, Kenyans were shocked when some of the old Kenyatta notes returned into circulation alongside the Moi currency. Like in the aftermath of 1978, the Moi currency later disappeared.

These arbitrary changes is what motivated Article 231 of the Constitution.

Indeed Muchiri may have a point that Kenyatta was a symbol of national unity. But their fears could well be accommodated as the CBK Governor is allowed some discretionary powers to retain Kenyatta's statue at KICC at the back of the current Sh100 note as this does not meet the definition of a portrait.

It would be in line with worldwide trends in which the statue of Mustafa Kamal Ataturk, the founder of modern Turkey and the Statue of Liberty in New York are revered in their countries.

The US one dollar note has founding President George Washington while Tanzania's TSH1,000 has Julius Nyerere on the face. The pyramids in Egypt and the statue of Kwame Nkrumah, Ghana's founding father are part of their national heritage.

In weighing the objects of Muchiri's petition, Parliament's Finance Committee ought to be alive to four factors. Whether Kenyans desires as stipulated in the supreme law can be trashed by seven individuals; the risk of setting a precedent for future regimes to change currency at will; entrenching double standards in the manner of doing business in future; and, Parliament's credibility.

In my view, the country should ignore these sideshows and move on with the implementation of the Constitution.

Source: All Africa
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline Pabitra

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Re: Kenya: New Series of Coins and Banknotes 2018
« Reply #13 on: September 26, 2015, 07:11:10 AM »
Any idea where you can see the actual thing for the design?

Hopefully next week.

See
http://allafrica.com/stories/201509251181.html

Offline Bimat

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Re: Kenya: New Series of Coins and Banknotes 2018
« Reply #14 on: October 12, 2015, 04:53:20 PM »
Treasury to unveil new currency next week

By Carol Njenga

You will on Tuesday next week have a glimpse of how the new currency will look like.

National Treasury Cabinet Secretary Henry Rotich says the government has finalized preparations for the new currency whose features would be unveiled on Tuesday next week.

Article 231 section 4 of the Constitution prohibits the use of portraits or images of individuals on the currency and instead says notes and coins should only bear images that depict or symbolize an aspect of Kenya.

Central Bank of Kenya was given until the beginning of this month to adhere to this.

Rotich says despite the delay details of the new design of the local currency are now ready and would be unveiled next week.

He made the remarks during the launch of the CBK@50 celebrations, the first in a series of activities running for one year and culminating in celebrations slated for September, 2016 when CBK turns 50.

CBK Governor Dr. Patrick Njoroge said going forward the bank would endeavor to promote transparency in the pricing of loans as well as improve the monetary policy transmission to the real sector.

He challenged financial sector players to include youth programmes in their business models to help nurture financial literacy among the youth.

Source: KBC
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.