Zambia revalues kwacha by removing three zeros
20 03, 2012 16:06 Category: Africa
According to an article in The Post Online dated 23 January 2012, the government of Zambia has agreed to Bank of Zambia plans to revalue the currency by removing three zeros from all denominations of the kwacha. Currently the largest denomination banknote is 50,000 kwacha (US$9.75), which will become 50 kwacha under the revaluation plan.
No details yet on when new notes will be issued, or if old notes will be overprinted as a provisional measure.
However, according to two documents (Tender For Procurement of New Rebased Zambian Currency - Paper Banknotes and Tender For Procurement of Paper Banknotes - K2 and K100), the Bank of Zambia is seeking bids from the following shortlist of security printers:
Also of interest are the technical specifications which detail the overall designs and security features of the notes, and which specify that the notes are to be printed on "cotton based substrate" of the printer's chosing, not polymer.
Courtesy of Thomas Krause.
No details yet on when new notes will be issued, or if old notes will be overprinted as a provisional measure.
However, according to two documents (Tender For Procurement of New Rebased Zambian Currency - Paper Banknotes and Tender For Procurement of Paper Banknotes - K2 and K100), the Bank of Zambia is seeking bids from the following shortlist of security printers:
- De La Rue Currency, United Kingdom
- Giesecke & Devrient, Germany
- Orell Fussli Security Printing Limited, Switzerland
- Francois Charles Aberthur [sic] Fuduciaire, France
- South African Bank Note Company (Pty) Limited, South Africa
- Goznak, Russia
Also of interest are the technical specifications which detail the overall designs and security features of the notes, and which specify that the notes are to be printed on "cotton based substrate" of the printer's chosing, not polymer.
Courtesy of Thomas Krause.