The Central Bank of Kenya (CBK) can now go ahead and open tenders for printing of the new look Kenyan currency, which shall not bear the portrait of any individual.
This is after High Court judge Chacha Mwita declined to stop the tendering process, which is set to commence on Wednesday, November 22.
Currency printing firms De LA Rue and De LA Rue Kenya EPZ Ltd had moved to court challenging the Central Bank’s decision to invite tenders from foreign firms to print the new design Kenyan currency.
In their petition, the two firms wanted the court to stop the tendering process pending determination of the case on grounds that printing of the currency would lead to irreparable harm on the local industry.
They accused CBK of unlawfully restricting the tender process to foreign entities in violation of mandatory requirements guiding the procurement process.