HF Group customers are charged 2.75 per cent of the coins’ value to bank them, meaning coins worth Sh1,000 will cost Sh27.50. The economy now has Sh1 coins worth Sh882 million and 137 million 50-cent coins worth Sh68.5 million. For shops selling scratch card airtimes, 50 cents and Sh1 coins are finding a new lease of life. Information on the CBK website shows the first Kenyan coins— in the denominations of five cents, 10 cents, 25 cents, 50 cents and Sh1—were issued on April 10, 1967. To many Kenyans, the Sh1 coin may be bulky and lack some purchasing power, but it has immense saving power.

Source: Standard Digital January 16, 2022 09:36 UTC