9 African countries print their own currency, including Kenya, Nigeria, South Africa

Nigeria, Morocco, Kenya, Algeria, South Africa, Democratic Republic of Congo, Egypt, Sudan and Zimbabwe are the only countries to have established private companies and public enterprises printing Bank notes.

So what are other African states doing?

Currently, around 40 countries print their currency in the UK, France and Germany.

According to the German media company Deutsche Welle, British banknote printing giant De La Rue, Sweden’s Crane AB and Germany’s Giesecke+Devrient are among the top companies African central banks are partnering with.

According to DW, Ethiopia, Libya and Angola as well as 14 other countries place orders with De La Rue. Six or seven other countries, including South Sudan, Tanzania and Mauritania, would print theirs in Germany.

Most French-speaking African countries are known to print their currency with the French central bank and the French printing company Oberthur Fiduciaire.

Which Company Prints Kenyan Currency?

In 2018, the Liberian government announced that it had literally lost Ksh 11 billion ($104 million).

The banknotes had been ordered by Liberia’s central bank from foreign printers and disappeared after passing through the country’s main port and airport.

In 2018, the cost of printing new Kenyan currency increased by more than 50% to 15 billion shillings. The increased costs were partly attributed to delays and the introduction of a new coat of varnish by the printer.

The new varnish was used to reduce wear and extend the life of the new coinage. Initially, the printing of the new currency by De La Rue International had been estimated at 5 billion shillings.

Previous Online tax software market – growing demand from industry professionals – Bloomingprairieonline
Next Printed Labels Market {2022} Analysis Size, Share, Industries, Capital, etc. 2027 – Bloomingprairieonline