New K100, K50 notes to be delayed after old ones are recalled —Bank of Zambia

The Bank of Zambia (BoZ) has announced that the new K100 and K50 banknotes will not be available immediately after the old ones are recalled, meaning the existing notes will remain legal tender until the replacements are issued.

BoZ Governor, Denny Kalyalya, made the announcement at a press briefing on Thursday, where he provided further guidelines on the rollout of the new currency.

“I must quickly add that when we launch the new notes on March 31, 2025, we will not immediately have the K50 and K100 notes—they are coming a little later.

However, we will have the K200, K20, K10, and lower denominations,” Kalyalya said.

He explained that the K100 note, Zambia’s current highest denomination, had lost its intended store-of-value function over time, prompting the introduction of higher-value notes.

“The K100 was meant to serve as a store-of-value banknote, not for everyday transactions. Over time, this role has been eroded, making it inefficient for transactions,” he said.

To address this, BoZ had introduced the K500 and K200 notes, which will be rolled out on March 31, 2025, as part of the new currency structure.

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