Reserve bank picks German Company for Currency processing contract

By Zakale Botomani

The Reserve Bank of Malawi has awarded a contract for Currency processing to a Germany Company.

According to a press release from the central bank payment services firm Geisecke + Devrient will provide a currency processing system. The contract was worth €4.1 million ($5 million). There is a grace period of 14 days for “interested parties” to object or query the contract. “The Reserve Bank of Malawi (the Bank) would like to engage a firm for the
procurement of currency processing system. Procurement process has now been
completed and the Bank intends to award the contract” read part of the statement

The contract was authorised by the central bank’s Internal Procurement and Disposal Committee. In March, the central bank was forced to re-tender the supply of ICT equipment after

Founded in 1852 by Hermann Giesecke and Alphonse Devrient, the firm initially specialized in high-quality printing, notably currency and securities printing. In the modern period, G+D has expanded operations to include banknote processing, smart cards, identification systems, and e-payments. The firm is the world’s second largest supplier of banknotes, with annual revenues of $2.45 billion They have over 11,600 employees, and some 50 subsidiaries and joint ventures around the world.


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