Naivas, Safaricom issue deadlines for old Ksh.1000 notes

Safaricom shops will no longer accept the old Ksh. 1000 notes starting Friday.

A statement from the mobile telco said the last day to collect the old Ksh. 1000 currency is Thursday.

“Following the demonization of the Ksh. 1000 note we advise that the last day to collect the old currency at Safaricom shops will be September 26, 2019,” the statement reads.

The mobile telco joins other organizations that have already given deadlines this week ahead of the official October 1 date from the Central Bank of Kenya.

Naivas Supermarket has issued a deadline of Sunday, September 30.

According to the company’s Chief Commercial Officer Willy Kimani, Kenyans are known to wait until the last minute.

“We are taking caution to provide sufficient time to offload the stock of notes in its possession to its various banking partners,” Mr. Kimani said in a Press statement.

The COO further noted that the retailer has set up cash tills that are able to detect fake notes.

Naivas Supermarket has written to all its 47 branch managers in the country notifying them of the directive to stop receiving old Ksh. 1000 notes starting Sunday.

The retailer however indicates that customers across the country have already adopted the new Ksh. 1,000 notes with conversion rate at 92 per cent.

Shoppers are also said to be moving towards cashless payment with most preferring to use mobile money or cards.

Bata Kenya said their shops will no longer accept old Ksh. 1000 notes starting Wednesday.

“In order for the company to be compliant we will stop accepting the old Ksh. 1000 bill with effect from September 25, 2019,” the statement from Bata Kenya reads.