Zambia to Launch New Banknotes and Coins on March 31, 2025
The Bank of Zambia (BoZ) is set to introduce a new family of banknotes and coins on March 31, 2025, marking a significant milestone in the country’s financial landscape. This development is particularly relevant for African travel agents and businesses operating in Zambia, as it will influence transactions, pricing systems, and overall travel experiences.
The new currency series will include six banknotes—K500, K200, K100, K50, K20, and K10—and six coins—K5, K2, K1, 50 ngwee (N), 10 ngwee (N), and 5 ngwee (N). Despite the design overhaul, key features such as the alpha code (ZMW), numeric code (967), and currency symbol (K) will remain unchanged, ensuring continuity in international financial systems. Importantly, the value of the currency will also stay the same, providing stability for businesses and travelers alike.
BoZ Governor, Dr. Denny Kalyalya, revealed that the new currency design draws inspiration from Zambia’s rich cultural and natural heritage. The banknotes and coins will feature elements celebrating the country’s unique flora, fauna, and iconic waterfalls, reinforcing Zambia’s identity and pride. Additionally, the new currency incorporates advanced security features to combat counterfeiting, ensuring safer transactions for all users.
During the transition period, both the old and new currency will remain legal tender. The exact timeline for phasing out the old currency will be outlined in an upcoming Statutory Instrument (SI). However, the replacement process is expected to span over 12 months, giving businesses and travelers ample time to adapt. To facilitate this transition, the BoZ has announced plans for a public sensitization campaign to educate citizens and visitors about the new currency’s features and exchange procedures.
For travel agents and businesses in the tourism sector, this currency change presents both challenges and opportunities. Pricing systems will need to accommodate both old and new currency forms during the transition, and travelers should be advised to exchange their foreign currency for Zambian kwacha (ZMW) upon arrival to ensure smooth transactions, as local regulations mandate the use of kwacha for all payments. Agents should also prepare for potential confusion among travelers regarding currency values and the coexistence of old and new notes. Vigilance against counterfeit currency will be crucial during this period.
On the positive side, the enhanced security features and modernized designs of the new currency could boost confidence in Zambia as a travel destination. The new currency not only symbolizes Zambia’s cultural pride but also aims to enhance the country’s economic stability, making it an even more attractive destination for international tourists and business travelers. Travel professionals must stay informed and proactive to support their clients effectively during this financial transition.
