The new Kenyan currency, which is expected to roll out sometime next year, has been approved at a cost of Kshs. 11 billion.
De La Rue, the company contracted to print out the new currency, says the first batch of notes will come out next year at an initial cost of Kshs. 2.4 billion.
The new currency notes were approved by the Central Bank of Kenya in line with the 2010 constitution that requires the new generational currencies that do not bear the image of an individual.
It will be interesting to see how the new currencies and the proposed digital currency by the Kenya Blockchain taskforce will look like and work together if both get approved.
In the long run however, digital currencies will likely be the defacto standard as the world and the financial systems move toward a more cryptocurrency friendly world.