This archive report was first published on 23 September 2019.
With just seven days left before the old 1000 notes cease to be legal tender, businesses across the country are growing increasingly reluctant to accept them. The Central Bank's charm offensive on demonetization has not convinced all retailers, with several announcing individual deadlines for the old notes.
Some service providers, including petrol stations and fast food joints, have already stopped accepting the old notes, with others set to follow suit in the coming days. The US consulate in Kenya, for instance, will stop accepting old 1000 notes from September 12, while Total petrol stations will cease to accept them from September 20.
Commercial banks, including Safaricom shops, have set a deadline of September 26 to stop accepting the old notes, citing the need to facilitate cash in transit and other banking procedures. Kenyans are advised to exchange their old notes before September 30, after which they will no longer be legal tender.
As the deadline draws near, it is clear that businesses are taking steps to prepare for the change. The question remains, however, whether the public will be able to adapt to the new currency in time.
