Zambia’s Currency Overhaul

.... New Banknotes Reflect National Identity, Enforce Security, and Drive Economic Progress By Francis Maingaila Zambia24 - (31-03-2025) - The Zambian government has unveiled a new series of currency banknotes and coins with enhanced security features, durability, and national identity. Danny Kalyalya, the Governor of the Bank of Zambia, said during the launch that the redesigned currency, known as the Heritage Series, features advanced security measures to curb counterfeiting while incorporating symbols that reflect Zambia’s rich heritage. He explained that the decision to introduce new notes aligns with the constitutional mandate of the central bank to issue currency, a responsibility formally enshrined in the 2016 Constitution. Kalyalya noted that inflation had eroded the purchasing power of the K100 and K50 notes, which were originally intended as high-value denominations for storing wealth. Meanwhile, the K5 and K2 notes have suffered from excessive wear and tear due to fr...