- A Kenyan man recently stumbled upon a metal box containing KSh 80,000 that he had saved back in 2018
- He had forgotten about the box after moving to a new house and only rediscovered it while going about his daily activities
- Unfortunately, the money inside had expired due to the government’s currency change, leaving him frustrated at the missed fortune
A Kenyan man who had saved KSh 80,000 in a metal box in 2018 recently recounted how he rediscovered the lost box, only to find the money had expired.
The video, shared on Kenya Gossip Club’s Instagram and originally from TikTok, showed the man unrolling the 1,000 shilling notes.
The man explained that he had forgotten about the box after relocating to a new house, and since then, he had never remembered that it contained a substantial sum he had saved for his future.
He expressed his frustration, lamenting that such a significant amount would have been beneficial if the government had not changed the currency notes, and he regretted having forgotten about it.
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He stumbled upon the box this year while going about his daily activities, noting that it had even started to rust from being neglected for so many years.
Kenya Unveils New Generation Banknotes to Combat Counterfeiting, Boost Financial Transparency
The introduction of new Kenyan currency notes was officially announced on June 1, 2019, during the Madaraka Day celebrations by President Uhuru Kenyatta.
This significant change was driven by the need to combat counterfeit currency, money laundering, and other illicit financial activities.
The Central Bank of Kenya (CBK) issued a Gazette Notice requiring that all old 1,000 shilling notes be exchanged by October 1, 2019, after which they would cease to be legal tender.
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The new banknotes were designed with enhanced security features and aimed to reflect Kenya’s cultural heritage and modern aspirations.
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Each denomination carries themes such as green energy, agriculture, social services, tourism, and governance.
The notes also feature images of Kenya’s wildlife and the Kenyatta International Convention Centre (KICC).
This demonetization process was part of a broader strategy to improve financial transparency and reduce the shadow economy.
By encouraging people to deposit cash into banks rather than hoarding it, the CBK aimed to increase liquidity in the formal banking system, thereby supporting economic stability and growth.
