NAIROBI, Kenya, January 8: The Central Bank of Kenya (CBK) has issued a tender notice inviting applications for the minting and supply of currency coins.
This move is part of CBK’s efforts to enhance its procurement processes for currency production, which is a crucial component of Kenya’s financial system.
Tender Details
CBK stated that the tendering process will follow International Competitive Tendering procedures, allowing global participation. Applicants must meet the prequalification requirements to be considered.
“The Central Bank of Kenya intends to prequalify Minters for minting and supply of currency coins for the Bank. It is expected that the Invitation to Tender will be made in January 2025,” the notice said.
Background
The announcement comes amidst scrutiny over CBK’s awarding of a Sh15 billion ($116 million) tender to German printer Giesecke+Devrient Currency Technologies in 2024 through a classified procurement process.
In defense of the decision, CBK Governor Kamau Thugge explained to the National Assembly’s Finance Committee last August that the move was necessary to prevent a potential shortage of currency.
Historically, Kenya’s currency notes were printed by British firm De La Rue, which ceased operations in June 2023 due to reduced printing volumes.
The new tender process aims to ensure transparency and align with CBK’s objectives of maintaining a steady supply of currency. Interested firms are encouraged to prepare for the prequalification phase set to open this month.
