FEATURED ARTICLE

US Embassy now accepting new generation currency

Share
CBK Governor Dr Patrick Njoroge clutching on the new generation notes. Businesses have set earlier deadlines for accepting old Ksh
Share

The US Embassy is now accepting the new generation currency for services after reaching an agreement with the Central Bank of Kenya (CBK).

In a statement posted on its social media pages, the embassy confirmed that it has been provided with equipment upgrades and the requisite training to accept the new currency.

“We now accept the new currency as well as the legacy currency valid until Oct 1. You may also continue to pay for services by credit card,” reads the statement.

On Tuesday, the embassy had in a statement said that it would be rejecting the new currency and would only be accepting the old generation notes or plastic money for consular services at the embassy.

The Embassy of the United States is currently developing procedures to accept the new Kenyan shillings. Until these procedures are in place, consular applicants will only be able to pay for services using the previous Kenyan shillings,” the statement read.

On June 1 during Madaraka Day celebrations held in Narok County, CBK announced that it will be demonitising the economy, a process that involves phasing out the old generation notes and fully withdrawing the Ksh1,000 note effective October 1.

The process is aimed at stemming illicit flows of cash.

Leave a comment

Leave a Reply

Your email address will not be published.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

PAST ARTICLES AND INSIGHTS

Related Articles
Retirees in Kenya
BUSINESSECONOMYFEATURED ARTICLENEWS

Treasury Eliminates Manual Processing of Pensions for Public Servants

Treasury and National Planning Ministry has launched an e-Management Information System to...

NSE aims to attract foreign investors investors jittery after SKL profit warning
BUSINESSECONOMYMARKETSNEWSSTOCKS

NSE in Fresh Bid to Attract Foreign Investors to the Bourse

NSE (Nairobi Securities Exchange) has received a major image boost after the...

BUSINESSFEATURED ARTICLENEWS

Ufundi  SACCO Finally Puts Up Iconic Co-op Plaza Up for Sale

Ufundi Savings and Credit Co-operative Society(SACCO) has invited bids for the sale...

boardroom
BUSINESSECONOMYNEWSSTOCKS

Africa Mega Agricorp Plc Makes Board, Management Changes

Africa Mega Agricorp Plc, listed at the Nairobi Securities Exchange(NSE) has announced...