Majority of Kenyans support new currency notes

60 percent of Kenyans support the demonetization of the old 1000 shillings notes, according to a survey released Thursday by Infotrak.

The survey also indicates that 63 per cent of respondents interviewed support the October 31 deadline for phasing out of the old notes in favor of new ones unveiled on June 1.

According to the report the support for replacing the country’s currency notes is informed largely by the fight against corruption.

Those opposed to the roll out of the new currency cited liquidity concerns saying the Central Bank of Kenya needed to assure the country of adequate cash supply.

52 percent have faulted the design of the new notes which they term as unimpressive.

Betting

At the same time the survey shows that 40 percent of Kenyans gamble or bet on a daily basis with 84 percent using their earnings.

Men dominate the betting activities at 74% with women participation standing at 26%.

The allure of instant money is not in urban areas alone as perceived. According to the survey most gamblers are from Rift Valley region which leads at 30% with youth aged between 18 and 35 years leading the pack of those who have embraced the betting culture.

However all is not lost with 59% of gamblers expressing a strong desire to stop the addictive habit.

71 % of Kenyans who gamble/bet choose to try again when they lose

The government has been worried about the rampant betting and recently ordered all betting firms to apply afresh for operating licences, starting July.

The move was aimed at netting firms that have been evading taxes despite reaping billions of shillings in profits.

  

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