Demonetisation going on smoothly - CBK governor Njoroge

In Summary

• July salaries will be paid using the new notes

The new look Kenyan currency notes.
The new look Kenyan currency notes.
Image: ENOS TECHE

Central Bank of Kenya governor Patrick Njoroge has said the demonitisation process is working well in the economy.

On Thursday, he allayed fears of a shortage of new bank notes, saying the first phase of distribution was a trial to give Kenyans a feel.

The major roll out of notes is ongoing.

Njoroge said in the last one week, CBK has been distributing only Sh1,000 new notes while retaining old notes.

"By end of the week, ATMs around the country will be dispensing new notes, " he said at the post-MPC briefing.

July salaries will be paid using the new notes, Njoroge said.

The main roll out will start from remote areas where majority lack access to banking facilities.