How phaseout of old notes has disrupted border trade

Move to stop changing Kenyan currency has placed new hurdles to cross-border trade

Kenya’s decision to withdraw the old generation Sh1,000 currency notes from circulation by October 1 this year is hampering trade along the border with Uganda.

The Central Bank of Kenya (CBK) on June 1 announced the replacement of the old Sh1,000 currency note with a new one that has additional security features, while the smaller denominations will be phased out over the next three years.