This archive report was first published on 30 September 2019.
Kenyans Say Goodbye to Old KSh 1000 Notes as New Currency Takes Over ¶
As of September 30, 2019, the old KSh 1000 note will cease to be a legal tender in Kenya, marking the end of an era for the country's currency.
The Central Bank of Kenya (CBK) has been running an aggressive campaign to educate Kenyans on the new generation currency and remind them of the deadline for exchanging the old notes.
CBK governor Patrick Njoroge had urged financial institutions to be extra vigilant and watch out for any abnormal transactions as the deadline approached.
According to the CBK, the large old notes were being used for illicit financial flows across the country, partly informing the decision to withdraw the old KSh 1000 denomination.
As the old notes are phased out, employers are advised to start paying their employees using the new KSh 1,000 notes, as the old cash will no longer be accepted past September 30.
Residents of Kisumu county have already begun to feel the effects of the change, with M-Pesa agents turning away clients with the old notes.
"Personally today (Sunday) I have not made any transactions with the old notes, from M-pesa to any shop in Kisumu....They have been rejected..I had to go get the new notes from the bank," said Emmanuel Anyiri, a resident of Kisumu.
The new generation currency was unveiled on June 1, 2019, and all Kenyans had until the end of September 2019 to exchange the old notes.
