| {"doc_id": "030c9addec6dd727abd2d1919748e464", "text": "VISIT OF H.E. PRESIDENT HON. UHURU KENYATTA\nTO THE CENTRAL BANK OF KENYA\nRemarks by Dr. Patrick Njoroge\nGovernor, Central Bank of Kenya\nDecember 11, 2018\nAPD\nYour Excellency; Distinguished Guests:\nIt gives me great pleasure to welcome you to the Central Bank of Kenya, on behalf\nof the Board and staff. I am particularly grateful to Your Excellency, for\ngraciously accepting to visit CBK despite your busy schedule. Your visit is also\nhistoric, as it is your first visit to the Central Bank as President.\nThe history of the Central Bank is intertwined with the history of our country. Its\nvision and objectives are built on the aspirations of the Kenyan people. We have\nfaced both difficulties and opportunities with courage and hope. CBK has\nadvanced towards the vision of a World-Class Modern Central Bank. We are\nproud of the progress that we have made, even as compared to other central banks.\nFor instance, we support all 47 counties in their banking operations, including\norganizing training sessions in every county. Nevertheless, there is still work to be\ndone, such as finding innovative ways to provide credit to SMEs and other\nexcluded sectors.\nYour Excellency, on this occasion of your visit, we will present you a symbolic\ncheque, for dividends that were remitted to the Government on November 12,\n2018. In making its determination on the amount of these dividends, the CBK\nBoard also considered CBK’s financial needs with the objective of ensuring CBK\n1\n\nis well-resourced to deliver on its mandates, as CBK supports our country best by\ndelivering on its mandates. For instance, we have maintained inflation within the\ntarget band, the foreign exchange market has remained stable as the balance of\npayments position improved, prudential regulation and supervision has been\nstrengthened, and CBK has continued to support innovations especially those that\nhave potential to enhance financial inclusion.\nYour Excellency, there is a pending matter concerning the issuance of New\nGeneration Currency, that is, notes and coins that are consistent with the 2010\nConstitution. This is one of CBK’s mandates and the Constitution provides\nguidance on the features and elements that may be depicted. CBK invited the\npublic to provide their views on the design elements. Having consulted widely,\nCBK considered and selected the most appropriate elements—the design features\nthat best meet CBK’s technical requirements, serve the public aspirations, and\ncapture the spirit of the Constitution.\nYour Excellency, the Central Bank of Kenya has now completed the process of\nproducing the New Generation coins, in accordance with the Constitution and all\napplicable laws. I confirm that the New Generation coins were issued today,\nDecember 11, 2018, by a Gazette Notice. They are now legal tender.\nYour Excellency, it gives me great pleasure to request you to unveil, after your\nspeech, the New Generation coinage of the Republic of Kenya.\nA few words on the new coins are in order. The new coins bear a significant aspect\nof our nation, and therefore will serve as a means of passing knowledge,\nconserving culture and promoting our global uniqueness. By engraving the\nselected images in the coinage, an awareness of our country and its characteristics\nwill be revitalized, giving physical expression to a Newly Reborn and Prosperous\nKenya.\n2\n\nIn the coming days, the Central Bank will roll out an awareness campaign to\neducate the public on the features of the new coinage. The new coins will circulate\nalongside the coins previously issued but not withdrawn. Additionally, in keeping\nwith the spirit of being responsible of our environment in the new coinage, the\nCentral Bank pledges 1 million tree seedlings through the “Greening Kenya\nCampaign” to mitigate climate change.\nFinally, let me thank all Kenyans and our guests for joining us to mark this\nmilestone. I would be remiss if I do not mention the Central Bank’s greatest assets,\nits staff. Most of them are unsung heroes who work quietly, every day at their\npost. All dedicate themselves with professionalism, integrity, and a spirit of\nservice. Thank you for your dedication.\nIt is now my pleasure to invite the Cabinet Secretary, National Treasury,\nMr. Henry Rotich, to make his remarks. Karibu Waziri!\n3", "source": "CBK", "stratum": "cb_requests", "fetch_date": "2026-04-26", "url": "https://www.centralbank.go.ke/uploads/speeches/779100197_Remarks by the Governor during the visit of H. E. President Uhuru Kenyatta to CBK.pdf"} |