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The shilling (Swahili: shilingi; abbreviation: KSh; ISO code: KES) is the currency of Kenya. It is divided into 100 cents. The Central Bank of Kenya Act cap 491, mandated the printing and minting of the Kenyan shilling currency. [1]
African currency was originally formed from basic items, materials, animals and even people available in the locality to create a medium of exchange. This started to change from the 17th century onwards, as European colonial powers introduced their own monetary system into the countries they invaded.
Sarafu-Credit (sarafu is the Kiswahili word for 'currency') is a community currency system operated in Kenya.It is used by five different communities, all located in informal settlements or slum areas, including small businesses and schools.
Pages in category "Currencies of Kenya" The following 4 pages are in this category, out of 4 total. This list may not reflect recent changes. E. East African florin;
The local name of the currency is used in this list, with the adjectival form of the country or region. ... East African rupee – Kenya, Somalia, Tanzania and Uganda;
The Bill and Melinda Gates Foundation warned in 2013 that lack of competition could drive up prices for customers of mobile money services and used M-PESA in Kenya as a negative example. According to the Foundation, a transfer of $1.50 cost $0.30 at the time, while the same provider charged only a tenth of this in neighboring Tanzania, where it ...
Many of Kenya's problems relating to the export of goods are believed by economists to be caused by the fact that Kenya's exports are inexpensive items that do not bring substantial amounts of money into the country. [70] Kenya is the dominant trade partner for Uganda (12.3% exports, 15.6% imports) and Rwanda (30.5% exports, 17.3% imports). [91 ...
This anomalous state of affairs arose because the first currency used by the British colonial authorities in British East Africa was the rupee, not sterling. The East African shilling was introduced to Kenya , Tanganyika , and Uganda in 1921, replacing the short-lived East African florin at a rate of 2 shillings to 1 florin.