Author: Mary Wangari

Kenyan government’s move  to introduce new currency has brought ripple effects, in the neighbouring countries. On June, 7th 2019, the Tanzanian government suspended the conversion as well as the extradition of Kenyan bank notes in a bid to combat counterfeited money. “CBK has suspended currency conversion and repatriation of all Kenyan currency to restrict illicit financial flows and counterfeits into the Republic of Kenya, and will not accept Kenyan currency with immediate effect,” read the official statement. The Bank of Tanzania also received a directive to immediately freeze the Currency Collection Account of the CBK even as the government amplifies efforts to…

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