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British banknote manufacturer De la Rue Friday got a reprieve from a court ruling which exonerated the firm of wrong-doing in the money printing tender row with Central Bank of Kenya (CBK).
The verdict could now see the printing firm print the new currency.
“De La Rue is delighted with the verdict this morning. We have maintained throughout the process that the CBK had run a proper, fair and transparent procurement, and the court has today confirmed that view, as well as dismissing baseless accusations of collusion out of hand. We are also delighted that the court recognised the proper application of local preference,” said Robin Mackenzie, Marketing Director, De La Rue.
“De La Rue Kenya will continue to support the CBK, and actively participate in growing the economy of Kenya; De La Rue has invested for over 25 years in Kenya, employs around 300 people directly, with an extended workforce of around 3000, and, contributes KSH1.25bn every year to the local economy,” she said.
“We are currently investing KShs286 million (US$2.9 million) in the expansion of our site in Kenya to strengthen and underpin local operations. This is part of a long term investment of Ksh1.4bn to upgrade the site to become a regional hub for East Africa and the wider continent and a Global Centre of Excellence for De La Rue,” the firm said.