De La Rue will print Kenya's new generation currency in a Ksh11.1 billion deal

De La Rue has welcomed Tuesday’s High Court ruling to continue the stay on the decision of the Public Procurement Administrative Review Board (PPARB) instructing the Central Bank of Kenya to re-evaluate the award of a currency contract.

Robin Mackenzie, De La Rue’s Marketing Director said: “De La Rue is pleased that a continuation of the stay has been granted. We are long term investors in Kenya, and have committed investments of Ksh 1.4 billion in the last two years alone. De La Rue Kenya contributes a further Ksh 1.25 billion to the local economy each year through its 300 Kenyan employees and extended indirect workforce of around 3000 in the broader supply chain. We will continue to argue strongly in support of the Central Bank of Kenya for the validity of the original award.”

 In his ruling, Justice George Odunga directed the order of stay to remain in force pending determination of cases by Central Bank of Kenya (CBK) and De La Rue, which have since been consolidated.

The matter will be mentioned on Friday for further directions.

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Senior Counsel Fred Ngatia representing De La Rue while asking the court to stop implementation of PPARB action requested to have the dispute heard on the basis that what is at stake is the printing of the currency in accordance with the Constitution.

Ngatia’s sentiments were supported by lawyer Ochieng Oduol for CBK.

De La Rue is aggrieved by PPARB directive that CBK reviews four bids that were tendered within a period of 14 days. PPRAB acted following a request for review by a Swedish firm Crane AB.

– Additional reporting by Capital FM News. 

 

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