Just In! Bank of Zambia unveils new banknotes, K5 to transition to coin form in 2025

The Bank of Zambia (BoZ) has unveiled a new series of banknotes, ranging from K500 down to K10, with the K5 denomination set to be issued as a coin starting March 31, 2025.

Finance and National Planning Minister, Situmbeko Musokotwane, is expected to soon issue a Statutory Instrument (SI) detailing the procedures for exchanging the old currency for the new notes.

The SI will specify the exchange period and designate points across the country where the public can exchange their old banknotes.

According to a public notice issued by BoZ Governor, Denny Kalyalya, the old banknotes and coins remain legal tender until further notice, as outlined in the upcoming SI.

Read more: Group calls on Bank of Zambia to replace torn currency notes

The new series features advanced security features to combat counterfeit threats, while maintaining the alpha code (ZMW), numeric code (967), and currency symbol (K).

It includes six banknotes (K500, K200, K100, K50, K20, and K10) and six coins (K5, K2, K1, 50N, 10N, and 5N), reflecting Zambia’s rich heritage, including elements celebrating its flora, fauna, and stunning waterfalls.

A nationwide sensitization campaign will be launched to familiarize the public with the new currency, ensuring a smooth transition.

The BoZ would also collaborate with various stakeholders to support the public throughout this change.

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