This archive report was first published on 25 July 2019.
Published on July 25, 2019, a survey by Infotrak revealed that a majority of Kenyans support the introduction of new currency notes.
According to the survey, 60% of respondents supported the demonetization of the old 1000 shillings notes, with 63% backing the October 31 deadline for phasing out the old notes in favor of the new ones unveiled on June 1.
The support for replacing the country's currency notes was largely driven by the fight against corruption, with many Kenyans believing that the new notes would help to curb illicit activities.
However, not everyone was in favor of the new currency. Some respondents expressed concerns about liquidity, arguing that the Central Bank of Kenya needed to assure the country of adequate cash supply.
Additionally, 52% of respondents faulted the design of the new notes, describing them as unimpressive.
The survey also shed light on the betting culture in Kenya, with 40% of respondents admitting to gambling or betting on a daily basis. Men dominated the betting activities, accounting for 74% of participants, while women made up 26%.
Interestingly, the survey found that the allure of instant money was not limited to urban areas, with the Rift Valley region leading the pack of gamblers at 30%. The youth, aged between 18 and 35 years, were also found to be the most active in the betting culture.
Despite the prevalence of betting, 59% of gamblers expressed a strong desire to stop the addictive habit.
The government has taken steps to address the issue, ordering all betting firms to apply afresh for operating licenses starting from July. The move aims to net firms that have been evading taxes despite reaping billions of shillings in profits.
