The Central Bank of Kenya (CBK) has issued a tender notice inviting global applications for the minting and supply of currency coins, aiming to enhance the transparency and efficiency of its currency production process.

In a bid to ensure a steady and reliable supply of currency, CBK has emphasised that the tendering will follow International Competitive Tendering procedures, thereby allowing global participation.

The bank has outlined that applicants must meet the prequalification criteria to be considered for the contract.

“The Central Bank of Kenya intends to prequalify Minters for minting and supply of currency coins for the Bank. It is expected that the Invitation to Tender will be made in January 2025,” the tender notice stated.

The tender process follows a backdrop of scrutiny surrounding the CBK's recent Sh15 billion ($116 million) tender awarded to the German printer Giesecke+Devrient Currency Technologies in 2024.

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This decision came under the spotlight due to its classified procurement process. Defending the move, CBK Governor Kamau Thugge explained to the National Assembly’s Finance Committee last August that the decision was essential to prevent a potential shortage of currency in the country.

Kenya’s currency notes were previously printed by the British firm De La Rue, which halted its operations in June 2023 due to a significant reduction in printing volumes.

This new tender for coin minting is part of CBK’s continued efforts to secure the country’s currency needs while ensuring transparency in procurement.

Interested firms are encouraged to prepare for the prequalification phase, which is set to begin this month.