Concerns Raised Over CBK 'Secret' Ksh14.5 Billion Currency Printing Deal
Auditors noted that the regulator did not meet the requirements under Regulation 84 of the 2020 Procurement Regulations...
✨ Key Highlights
Busia Senator Okiya Omtatah has raised concerns over a "secretive" Ksh14.5 billion currency printing deal awarded by the Central Bank of Kenya (CBK) to German firm Giesecke & Devrient. He alleges irregularities in the tendering process, citing findings from the Auditor-General's report.
- The contract, valued at Ksh14.5 billion, was signed on April 22, 2024.
- Okiya Omtatah, Busia Senator, questioned the legality and transparency of the deal in the Senate.
- The Auditor-General's report for 2024 flagged issues including failure to appoint a special procurement committee and bypassing open competition.
- The CBK defended the decision by citing approvals from the National Security Council and the Treasury.
- The CBK Governor Dr. Kamau previously announced in August 2024 that a German firm would print Kenya's currency.
Continue Reading
Read the complete article from Kenyans
Part of the Day's Coverage
Parliament Probes Trans Nzoia Finances and CBK Currency Deal, Demands Action on CSs - September 2025
Kenyan senators are demanding stronger penalties, including fines and censures, for Cabinet Secretaries who fail to appear before the House after Lands CS Alice Wahome snubbed a summons. Separately, the Senate County Public Accounts Committee (CPAC) has directed the Ethics and Anti-Corruption Commission (EACC) to investigate alleged financial irregularities in Trans Nzoia County's revenue collection system. This follows Governor George Natembeya's admission of significant underperformance in revenue generation. Additionally, Busia Senator Okiya Omtatah has raised concerns over a "secretive" Ksh14.5 billion currency printing deal awarded by the Central Bank of Kenya (CBK), citing irregularities in the tendering process based on the Auditor-General's report.
