FEATURED ARTICLE

Court gives CBK nod to tender for new currency

Share
Share

Central Bank of Kenya (CBK) can now open the tender bids for the printing of the new design Kenyan currency tomorrow as planned.

This is after High Court Judge Chacha Mwita turned down an application by De La Rue Security Printing firm and another interested printing company who had sought to stop CBK from opening the tender documents.

Instead, Justice Mwita directed the printing firms to respond to allegations by CBK that they illegally obtained tender documents before he can consider giving any orders.

Parties in the case are required to appear in court next Thursday when De La Rue will explain to the court how it obtained the tender documents yet the company never participated in the tendering process.

CBK through lawyer Ochieng Oduol had urged the court not to issue the restraining orders accusing the respondents of “not approaching the court with clean hands”.

Oduol implored Justice Mwita to decline the invitation to scuttle the tendering process which began in 2014.

The aggrieved printing companies have accused CBK of unlawfully restricting the tender process to foreign entities alone in violation of mandatory requirements guiding the procurement.

READ: Little-known school produces KCPE top performer

They want the process stopped pending determination of the case on grounds that the move will lead to irreparable harm of the local industry.

CBK has been faulted for issuing the printing tender without considering the Constitution provisions and the Public Procurement and Asset & Disposal Act requiring preference be given to a local firm.

CBK is said to have invited various foreign entities to submit their bids by November 22 at 10.30am.

Thereafter the submitted bids will be immediately opened, evaluated and the tender awarded to the successful foreign entity.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PAST ARTICLES AND INSIGHTS

Related Articles
CBK headquarters in Nairobi
BUSINESSNEWSSTOCKS

Central Bank of Kenya Raises KSh 34.4 Bn for Budget Spending in June

Central Bank of Kenya(CBK) received bids worth KSh 34.4 billion from the...

Cheque
BUSINESS

Verify-Cheque Launches Cloud System to Track and Recover Bounced Cheques

Verify-Cheque has launched a new cloud-based debt recovery platform aimed at helping...

Outside Central Bank of Kenya (CBK) headquarters in Nairobi.
BUSINESS

CBK Reveals Ksh68B Losses as Bounced Cheques Surge in Kenya

The Central Bank of Kenya (CBK) has revealed that Kenyan businesses are...

CBK headquarters in Nairobi
BUSINESSNEWSSTOCKS

Central Bank of Kenya Seeking KSh 40Bn for Budgetary Support in June

Central Bank of Kenya(CBK) has floated re-opened 15 and 25-year papers, seeking...