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Zambia to introduce new banknotes on March 31, 2025
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The Bank of Zambia (BoZ) has announced the introduction of new banknotes and coins for the Zambian kwacha, set to launch on March 31, 2025. This marks a significant update to the nation's currency, aimed at improving its security, efficiency, and aesthetic appeal.
The updated currency will include the introduction of 500 kwacha and 200 kwacha banknotes, alongside a refreshed series of coins in denominations of 5 kwacha, 2 kwacha, and 1 kwacha. Smaller units, namely 50 ngwee, 10 ngwee, and 5 ngwee, will also be issued as part of the revamped coin series.
BoZ Governor Dr. Denny Kalyalya confirmed that while the designs of the new banknotes and coins have been updated, key features will remain unchanged. These include the alpha code for the Zambian kwacha (ZMW), the numeric code 967, the currency symbol K, and the face value of the currency.
Dr. Kalyalya highlighted that the updated designs draw inspiration from Zambia's rich cultural and natural heritage. The new notes and coins will showcase elements of the nation's iconic flora, fauna, and stunning waterfalls, reflecting the beauty and uniqueness of the country.
"This redesign is not only about enhancing security but also about celebrating who we are as Zambians," Dr. Kalyalya stated during the announcement.
The rollout of the new currency is expected to strengthen public confidence in the monetary system while ensuring the kwacha remains a secure and efficient medium of exchange. With the updated designs, the BoZ aims to merge functionality with an artistic tribute to Zambia's identity.
The transition to the new currency will be accompanied by a public awareness campaign to ensure smooth adoption and understanding of the changes. Further details on the distribution process and the withdrawal timeline for the existing currency will be shared by the BoZ in the coming weeks.
The updated currency will include the introduction of 500 kwacha and 200 kwacha banknotes, alongside a refreshed series of coins in denominations of 5 kwacha, 2 kwacha, and 1 kwacha. Smaller units, namely 50 ngwee, 10 ngwee, and 5 ngwee, will also be issued as part of the revamped coin series.
BoZ Governor Dr. Denny Kalyalya confirmed that while the designs of the new banknotes and coins have been updated, key features will remain unchanged. These include the alpha code for the Zambian kwacha (ZMW), the numeric code 967, the currency symbol K, and the face value of the currency.
Dr. Kalyalya highlighted that the updated designs draw inspiration from Zambia's rich cultural and natural heritage. The new notes and coins will showcase elements of the nation's iconic flora, fauna, and stunning waterfalls, reflecting the beauty and uniqueness of the country.
"This redesign is not only about enhancing security but also about celebrating who we are as Zambians," Dr. Kalyalya stated during the announcement.
The rollout of the new currency is expected to strengthen public confidence in the monetary system while ensuring the kwacha remains a secure and efficient medium of exchange. With the updated designs, the BoZ aims to merge functionality with an artistic tribute to Zambia's identity.
The transition to the new currency will be accompanied by a public awareness campaign to ensure smooth adoption and understanding of the changes. Further details on the distribution process and the withdrawal timeline for the existing currency will be shared by the BoZ in the coming weeks.
Source - online
