The Bank of Zambia (BoZ) has announced that it will introduce new banknotes for the local currency on March 31, 2025.
The updated currency will include the introduction of 500 and 200 kwacha notes. Additionally, new coins will be issued in denominations of 5 kwacha, 2 kwacha, and 1 kwacha, along with smaller units of 50 ngwee, 10 ngwee, and 5 ngwee.
BoZ Governor Denny Kalyalya confirmed that while the new currency will feature updated designs, the fundamental elements will remain unchanged. The alpha code for the Zambian kwacha (ZMW), the numeric code 967, the currency symbol K, and the value of the currency will not be altered.
Dr. Kalyalya emphasized that the new currency design is inspired by Zambia’s rich heritage, incorporating elements that celebrate the nation’s unique flora, fauna, and breathtaking waterfalls.
The introduction of these new banknotes and coins is expected to enhance the security and efficiency of Zambia’s monetary system while reflecting the country’s cultural and natural beauty.
As it is stated that the value wont be altered, why will you include 10ngwee and 5 ngwees coins since they don’t have any value!? And why introducing such big notes like, K200.00 and K500.00? I don’t see it to BE necessary.
I concur with you, Collins!
And why no KK image? We ought to show gratitude to our founders, more so that ours had so much gravitas across Africa and the whole world.