CHOMOA COINS CAMPAIGN: CBK URGES KENYANS TO UNLEASH THEIR HIDDEN TREASURES

 The Central Bank of Kenya (CBK) has officially launched a new nationwide campaign to increase cash circulation. 

Aptly titled "Chomoa Coins," the campaign encourages Kenyans to reclaim coins that have been hoarded in drawers, handbags, piggy banks, and even car compartments and use them. CBK is raising awareness of a hidden currency crisis through this campaign: millions of shillings worth of coins are sitting idle across the nation, out of reach of retailers, matatus, and other sectors that rely on small denominations for daily transactions. 

CBK stated, "Every coin counts," in a public advisory. “We are encouraging members of the public to either deposit the coins at their respective banks or spend them on everyday purchases such as groceries, matatu fare, or shopping at your local supermarket.”

 CBK emphasized once more that coins are still legal tender and should not be considered useless or forgotten change. Instead, they ought to continue to move around the economy in order to facilitate smooth transactions, particularly in lower-income areas where coins are necessary for small purchases and accurate change.

 It has also been urged on retailers, supermarket chains, and operators of public transportation to accept and use coins rather than rejecting customers or rounding prices unfairly.     

Businesses were reassured by CBK that financial institutions will continue to process large quantities of coin deposits without restriction. CBK has successfully persuaded Kenyans to let go of loose change before. The "Chomoa Coins" campaign, on the other hand, seems to be more urgent and timely than ever as a result of a lack of small currency in physical circulation, rising digital payments, and inflation. Remember that Kenya's economy needs it moving before you ignore that pile of coins in a forgotten tin. That shabby change?

 It could be a parent's ticket to their next hustle, lunch money, or a bus fare. CBK’s message is simple, clear, and clever, Chomoa coins.  Utilize them. Place them there. Let them flow.