This archive report was first published on 25 July 2019.
On June 3, 2019, Central Bank of Kenya Governor Dr. Patrick Njoroge briefed the media on the new currency notes that would replace the old notes at the CBK offices. The move, rolled out by the Government in June 2019, has received significant support from Kenyans.
A survey conducted by Infotrak on June 22 and 23, 2019, revealed that 60% of respondents support the replacement of the currency. The reasons for this support vary, with 49% believing that it will help in fighting corruption, especially money laundering.
Furthermore, 63% of respondents support the recall of Sh1,000 notes by October 1, citing its potential to combat corruption, illegal trade, crime, and fake currencies.
However, not all Kenyans are in favor of the new currency. 52% of respondents who oppose the move believe that the notes have poor designs, while 29% argue that it will disrupt the economy.
The survey also highlighted regional variations in support for the currency replacement. Nairobi leads with the highest number of supporters at 70%, while Nyanza registered the lowest number of supporters at 53%.
Published on July 25, 2019.
