📢 Lusaka, Zambia – The Bank of Zambia (BoZ) has officially announced the introduction of a new family of Zambian currency, which will be launched on March 31, 2025. This landmark change will see the rollout of six new banknotes (K500, K200, K100, K50, K20, and K10) and six new coins (K5, K2, K1, 50N, 10N, and 5N), designed to enhance security, efficiency, and ease of use in daily transactions.
🔎 Key Highlights of the New Zambian Currency
✔️ The currency symbol (K), alpha code (ZMW), and numeric code (967) will remain unchanged, ensuring a seamless transition.
✔️ The new currency design will feature Zambia’s rich heritage, including its diverse flora, fauna, and iconic waterfalls, reflecting the nation’s identity.
✔️ This initiative began in July 2021 after approval from the BoZ Board, reinforcing the Bank’s commitment to secure, user-friendly banknotes and coins.
✔️ The Minister of Finance and National Planning will soon issue a Statutory Instrument (SI) outlining the procedures for exchanging the old currency for the new.
✔️ A nationwide sensitisation campaign will be launched to educate the public about the features of the new currency.
✔️ The existing banknotes and coins will remain legal tender until the period specified in the upcoming Statutory Instrument (SI).
🔄 What This Means for You
💡 The transition to the new currency aims to improve durability and security while addressing concerns about the current poor state of banknotes.
💡 Zambians are advised to continue using the existing currency until further guidelines are issued.
💡 Exchange points and timelines will be clearly outlined in the forthcoming official directive from the Ministry of Finance.
🗣️ Have Your Say!
🔹 What are your thoughts on the new Zambian currency?
🔹 Do you think this change will enhance efficiency in financial transactions?
🔹 What features would you like to see on the new banknotes?
💬 Drop your comments below and let’s discuss! 👇🏾
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