Progress on the development of De La Rue’s Nairobi facility has been highlighted in a Tweet sent from their official account.
The expansion is part of the British company’s aim to become the most secure print facility in the whole of Africa.
In August 2016, De La Rue plc announced that it had signed an agreement to enter into a joint venture with the Government of Kenya.
Strengthening and building on the existing relationship, this new joint venture will ultimately see the Nairobi facility enhanced and turned into a Centre of Excellence for banknote and security printing for the Group and will continue to supply both the domestic and export markets with high value products.
Currently employing in the region of 300 local people, De La Rue has contributed extensively to the local economy over the last two decades through factory investment, the payment of taxes, wages and local purchases. In addition, technology development, skill transfer education support, sponsorship and a wide array of charitable activities also benefiting the local community.
Under the terms of the agreement, the Government of Kenya will take a 40% interest in De La Rue’s wholly owned subsidiary, De La Rue Kenya EPZ Limited, for a cash consideration of £5.0m payable upon completion.
De La Rue has been working with Kenya since before the country’s independence and is immensely proud of the relationship and history it has developed with the Kenyan people and their government. During this time, the company has delivered many varied and significant projects including the first national identity card system and most notably, the print and production of Kenya’s banknotes.
In 1991, De La Rue was quick to take advantage of a Kenyan government initiative designed to promote Kenya as a centre for international trade and made significant investment in a modern factory to print banknotes and other security products.
After 25 successful years in production, the site now employs hundreds of Kenyan people and the banknotes made in the facility are circulated in more than 30 countries worldwide, a tribute to the skill and dedication of the local workforce employed by De La Rue. The Nairobi factory also produces cheque books and a wide range of other security documents and was the first in the region to be credited for Visa Card and MasterCard personalisation, having recently invested in the latest chip & pin smart technology and capabilities.