Wednesday, September 24, 2025 - The Central Bank of Kenya (CBK) is under intense scrutiny following revelations of a Ksh14.5 billion currency printing contract awarded to German firm Giesecke & Devrient.
Busia Senator Okiya Omtatah raised the alarm in Senate,
questioning the legality and transparency of the deal, which he claims bypassed
key procurement laws.
According to the 2024 Auditor-General’s report, CBK failed
to appoint a special procurement committee, ignored oversight from the Public
Procurement Regulatory Authority (PPRA), and did not conduct proper supplier
vetting.
Despite CBK citing approvals from the National Security
Council and Treasury, Omtatah argued that the bank is not a security organ and
should not use such justifications to avoid open competition.
Documents show the contract was signed on April 22nd,
2024, with Treasury clearance granted in January.
However, auditors flagged non-compliance with Regulation 84
of the 2020 Procurement Regulations, casting doubt on whether the deal served
taxpayers’ best interests.
Omtatah urged the Senate Finance and Budget Committee to
investigate the matter thoroughly and benchmark it against previous tenders.
He warned that unchecked procurement practices involving
large sums of public money could erode public trust.
CBK Governor Dr. Kamau had previously revealed in August
that a German firm had been contracted to print Kenya’s currency, though he
withheld its identity at the time.
The unfolding controversy has sparked calls for greater
transparency and accountability in high-value government contracts.
The Kenyan DAILY POST
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