Central Bank of Kenya (CBK) Governor Kamau Thugge recently failed to present contract documents and due diligence reports to the National Assembly concerning the Sh14.2 billion deal with Germany’s Giesecke+Devrient (G+D), a company involved in printing Kenya’s new banknotes. The deal has sparked interest due to its scale and the implications for currency production in the country.

The National Assembly had requested the CBK to provide the necessary documentation, but Governor Thugge was unable to meet the Thursday deadline. This raised concerns about the transparency and procedural integrity of the deal, leading to calls for more accountability in the handling of such significant government contracts.

Giesecke+Devrient, a leading global firm in security printing, has had a long-standing relationship with Kenya, printing the country’s currency. However, the lack of documentation provided to the parliamentary committee has prompted some lawmakers to demand further scrutiny into the contract’s terms and conditions, as well as the due diligence conducted in the process.