Scenes of despair and pressure were witnessed in Kenya during the last few weeks as the ban of old 1,000 shilling notes comes closer. Those who had stocked their fortunes are desperate to offload the cash as soon as possible. Hoarders buying a luxury Mercedes with 1,000 shilling notes in cash are some of the stories that are going around.
A new 1,000 shilling note was rolled out in June. People were asked to return the old notes by September 30, 2019. The government wanted to flush out tax evaders, criminal groups and sly businessmen. People are inventing ways to get rid of their money.
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