NAIROBI, Kenya — The Central Bank of Kenya (CBK) has launched a rare tender to sell approximately 281 tonnes of old and damaged coins.
In a notice to the public, the bank invited qualified companies, including coin-minting firms and metal smelters, to purchase coins deemed unfit for circulation.
The coins, stored across CBK vaults in Mombasa, Nairobi, and Kisumu, will be melted down under strict supervision.
“This initiative will remove 281,667 kilogrammes of unusable coins from circulation while paving the way for new currency to enter the market,” CBK said.
The bank emphasized that the winning bidder must allow CBK officials to witness and certify the destruction of all coins.
“It is expected that the bidder will notify the bank when ready to undertake the smelting and invite the bank’s team to witness and confirm in writing that the smelting is completed to our satisfaction,” the notice added.
The coins are composed of recoverable metals such as copper, nickel, aluminium, steel, bronze, and brass, which can be recycled for industrial use.
Bidders can inspect samples at CBK’s head office before submitting proposals.
By June 2025, the CBK held coins valued at Sh11.37 billion, with Sh20 coins accounting for Sh4 billion, Sh10 coins Sh4.02 billion, and Sh5 coins Sh1.95 billion.
Current coin denominations weigh between 3.75 grams and nine grams, while the heaviest coin ever in circulation remains the 1985 five-shilling coin at 13.5 grams.
Despite a decline in daily use due to digital payments, coins remain essential for transactions involving uneven amounts.
CBK continues to mint new coins, including Sh1, Sh5, Sh10, and Sh20 denominations introduced in December 2018, featuring wildlife images rather than former presidents.
The tender follows CBK’s recent Sh14.1 billion contract with Germany’s Giesecke+Devrient Currency Technologies GmbH to print new banknotes.
The process faced scrutiny from Auditor-General Nancy Gathungu for alleged irregularities, though Governor Kamau Thugge defended it, citing approval from the National Security Council.
Bids for the coin disposal close on January 22, 2026, marking an opportunity for qualified firms to handle a significant recycling and currency replacement project.
