Group calls on Bank of Zambia to replace torn currency notes

Astone Sakala, Vice President of the National Association for Marketeers, Disabled Traders, and Vendors of Zambia (NAMDTVZ) has called on the Bank of Zambia (BoZ) to urgently replace worn and torn currency notes in circulation.

Sakala expressed concerns in interview on Saturday about the deteriorating condition of lower-denomination notes, including the K2, K5, K10 and K20, which he said was disrupting trade for marketeers and vendors.

“Our members have raised concerns over torn and overused notes currently in circulation. The Central Bank should take action to address this,” Sakala said.

He emphasised that currency notes required regular reprinting to maintain their condition and facilitate smooth transactions.

Sakala also pointed out that some ATMs and bank counters are dispensing damaged notes, adding to the issue.

“We expected commercial banks to collect and replace notes in poor condition, but we are noticing that even banks are dispensing disfigured notes,” he added.

Sakala stressed that maintaining the integrity of the currency was essential and urged immediate action from the Bank of Zambia and the government to ensure that quality notes remained in circulation.

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