Court ruling clears path for printing of new look currency

Kenya can continue with its plans to have the proposed new look currency after the Court of Appeal on October 12 ruled that the Central Bank of Kenya (CBK) followed due process when awarding the tender to British money printing firm De La Rue.

The Appellate Court overturned a High Court ruling by current Machakos Presiding judge Justice George Odunga that quashed awarding of the tender on grounds that it was awarded unprocedurally.

While cancelling the tender, Justice Odunga agreed with Activist Okiya Omtata that the British firm did not qualify for the 15 per cent margin of preference which secured the British firm the lucrative Ksh10 billion a year tender.

De La Rue was preferred for having Kenyan employees and its operations in the country.

In his suit Omtata argued that De La Rue ought not to have been awarded the tender as it is not a local company and is not registered in Kenya.

READ: NEW-LOOK CURRENCY TO DROP PRESIDENTIAL POTRAIT

In addition, The Public Procurement Administrative Review Board (PPARB) on January 8 cancelled the tender on grounds that CBK abused the 15 per cent local preference clause.

PPARB directed CBK to re-evaluate all tenders submitted to it by all four bidders including Crane Currency (Sweden), Giesecke & Devrient (Germany) and Oberthur Fiduciaire (France).

SEE ALSO: MEDSOURCE SEEKS AVAILABILITY OF MEDICINE FOR ALL KENYANS

However dissatisfied by the decision, CBK moved to the High Court through lawyer Ochien’g Oduol to contest the decision.

The Court of Appeal decision paves way for De La Rue to start printing the much anticipated new look currency.

The 2010 constitution dictates dropping of the presidential potrait in the Kenyan currency.