Govt acquires 40% stake at De la Rue

The government has paid 663.3 million shillings to acquire a 40 percent of currency printing firm De la Rue.

This marks the end of an eight year process to sign a joint venture agreement with the British currency and security printer.

De la Rue Group Chief Executive Officer Martin Sutherland says the firm had dropped a contentious exclusive printing clause from the agreement that would have bound the government to a 10 year currency printing deal.

At one point, de la rue had threatened to exit the Kenyan market if the joint venture deal collapsed.

Sutherland says de la rue will use the partnership with the Kenyan government to source new printing deals in the region.