De La Rue Currency and Security Print Kenya, has reiterated that it is important to understand the facts before jumping to conclusions based on incorrect media headlines.
Addressing the media in Nairobi early today, De La Rue’s Commercial Lead in charge of Kenya Joint Venture Mark Crickett explained the history behind De La Rue’s 20 year involvement in Kenya and reiterated its willingness to continue the relationship subject to satisfactory resolution of the joint venture discussions.
“We have invested Ksh3 billion in the Kenyan operation to-date and continue to make a contribution over Ksh1 billion annually to the Kenyan economy and employing 260 Kenyans.” said Mr. Crickett.
Mr. Crickett explained that it was inappropriate to compare the costs of the cancelled order back in 2005 relating to the printing of a new series of bank notes, to the costs associated with printing the old currency in smaller quantities to a different specification. “A figure of over Ksh2 billion has been mentioned in the press, however, this is based on a misunderstanding as a ‘like-for-like’ comparison cannot be made.” Mr. Crickett continued to explain that the prices paid for the interim orders were competitive when compared to international benchmarks.
De La Rue’s Group Director of Marketing Communications, Rob Hutchison, noted that some of the comments in the media suggesting that De La Rue had acted inappropriately in its dealings with the Kenyan authorities were wholly incorrect.
“The reason for providing this briefing today is to correct the misunderstanding in the media relating to the history surrounding the JV discussions. By presenting the facts we are hopeful that the media will be able to provide a more balanced view of the details that have led to where we are today in our discussions relating to the JV.”
As the world’s largest integrated commercial security printer and papermaker, De La Rue is a trusted partner of governments, central banks, issuing authorities and commercial organisations around the world.
The De La Rue Group is involved in the design and production of over 150 national currencies and a wide range of security documents including passports, driving licences, authentication labels and tax stamps. In addition, the Group manufactures sophisticated, high speed, cash sorting equipment.
De La Rue also offers a range of specialist services and software solutions including government identity schemes, product authentication systems and cash management processing solutions.
De La Rue employs approximately 4,000 people worldwide and is listed on the London Stock Exchange.
For further information, please visit www.delarue.com
For further info, please contact:
Rob Hutchison, Group Director of Marketing Communications