The Central Bank of Kenya has opened a new currency hub in Kisii town in efforts to ease cash distribution to counties in Nyanza region.
CBK Governor Patrick Njoroge described the new currency centre as one of the most modern in the country that will support economic growth in the counties through the provision of services to residents, county governments, and commercial banks.
“This branch will offer currency and technology services to county governments and banks, thus support the economic growth of this region,” Dr Njoroge said.
The opening of the branch was led by President Uhuru Kenyatta, who added that the new branch will ease access to money sent from outside the country.
“This currency centre will ensure that the costs you incurred getting the money sent to you from your relatives abroad go down,” The President said.
Kisii is one of the communities in Kenya with most of its members abroad who prefer investing back at home. They are heavy on transport, real estate, farming, hospitality and banking.
As Kisumu boasts a hub, a refurbished international airport and unreliable rail connection, Kisii is actually proving to be a worthy competitor now as the hub of South Nyanza region.
They have a passport centre, they hosted the first BBI rally for the entire Nyanza region and today, the president and the ODM leader Raila Odinga received the revised version of the BBI report in Kisii .
It's also gaining big traction for top notch politicians aiming to capture the South Nyanza region from Raila Odinga who has been Nyanza political kingpin.
The president added that the new hub will easen business for banks, governments and the people.
“I believe that the people of this region also have a reason to not only be proud but also that going forward it would be much easier for government institutions including county governments and our banks to operate in a much smoother and economical manner as a result of the work the central bank has done here,” Kenyatta said.
Competition is good, with easy distribution of cash, the industrious people of Kisii will 'spank' the sleeping Kisumu where the president proceeded to launch fish projects.