Central Bank of Kenya (CBK) Governor Patrick Njoroge on Friday announced that the new design currency will be issued during the second quarter of 2018.
Governor Njoroge acknowledged that there were court cases against the new currency but the regulator would go ahead with the set plans to unveil it.
"We are aware we have been sued and all that, but we will leave that to the courts. But from our perspective, we are moving ahead.
"We expect to issue the new generation currency sometime in the second quarter of 2018," he explained.
[caption caption="File image of Central Bank of Kenya (CBK) Governor Patrick Njoroge"]
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The CBK Governor expressed optimism over the medium outlook of the Kenyan economy advising investors to make a long-term bet in the country.
He acknowledged that Blockchain was a good technology but described bitcoin and other cryptocurrencies as some kind of "Ponzi" scheme.
"Our press release on Cryptocurrencies still remains. It's a risky venture," he stated.
He added that the CBK would maintain its view on the capping of interest rates.
"We have the http://www.costofcredit.co.ke website that allows you to window shop before visiting your banker," Governor Njoroge conveyed.
Earlier in September, images of the new-look currency meant to replace the notes currently in circulation surfaced online.
Mr Njoroge at a press conference stated: "We are in the process of having the new generation currency but in accordance with the Constitution."
[caption caption="the new look currency"]
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In November, the High Court gave the CBK the mandate to open tender bids for printing of the new Kenyan currency as planned.
Judge Chacha Mwita rejected an application by DeLaRue Security Printing firm and another interested printing company who sought to prevent the CBK from opening the tender documents.
However, in his ruling, Justice Mwita ordered the printing firms to respond to allegations by CBK that they had illegally acquired tender documents.
