THE Bank of Zambia (BoZ) will by the end of this week be certain on when the new rebased Kwacha notes will be on the market.
BoZ deputy Governor for Operations, Bwalya Ng’andu said this during a media briefing at the on-going 86th Zambia Agriculture and Commercial Show in Lusaka yesterday.
Dr Ng’andu said the two firms selected to print the new Kwacha notes and coins would be engaged in talks over the roadmap to introduce the revised currency.
Giesecke of Germany and South Africa’s Mint Printing Company (MPC) were selected to print the revised notes.
Giesecke was expected to print the notes while MPC was expected to print the coins.
“We will be certain of the day when the new Kwacha notes and coins will be ready by next week, we will be talking to the two firms on the roadmap. We also want to start a nationwide sensitisation campaign on the rebased currency,” Dr Ng’andu said.
He said the central bank was yet to hear from the printers when the sample for the rebased Kwacha notes would be ready.
He said the new notes would also have special features that would help avoid counterfeit of the notes.
[Times of Zambia]
Ok will keep on waiting!!
coins are minted not printed Whats wrong with LT kanshi?
Giesecke was expected to print the notes while MPC was expected to print the coins
Ahahahahahahahahahaaaaaa. Ba LT, don’t they have editors?
Ba Nshi sunda, you have also make the same mistake bwana but thanks though for the correction.
U-turn has not been ruled out yet….its still on the books.
:) printing coins. :) good one. Hope that zambian get used to coins. I use coins for my lunch and everything I do. Love coins.
The coins are great, aren’t they? Can’t wait to use them again.
Funny man
Of what use is it telling us when u havent even heard from the printing company??? , stop making premature senseless comments.
You mean to tell me BOZ has not been talking to the companies that printing/minting the money. We are not talking about print some useless post news paper, we are talking about current and not just a few note to replace torn notes but replace the how about and BOZ will be talking to the companies. They should be in the know every step of the way
We also want to start a nationwide sensitisation campaign on the rebased currency,” MMH! YOU DIDN’T START ALREADY? THE IMPRESSION GIVEN IS THAT YOU DON’T EVEN TALK TO THE TWO COMPANIES- BANK OF ZAMBIA!!!!!!!!!!
For sure boi,nifyo fine ala bwafya.
#4 You are funny, printing coins.
So what will the amount of stolen money by Mutembo Nchinto & Ka Mmembe = K120 million? And how much will be the minimum wage K51pin? More Chinese will die from riots.
I certainly hope we don’t misunderstand you on this one too
Ba BoZ ponse palya. Tamwakwete impiya. You should have come to borrow from me.
Hope this will not be misunderstood by stakeholders as is the case with almost everything these days.
So the debate about rebasing is a reality no longer an idea after we all contributed laughing on Bob…..What exactly does it mean to our economy…Economists please shade light
hope you are not going to flip flop on this one bane. And what is this with Bwalya Ng’andu always pushing out statements when you have a publicist and a governor? The guy really enjoys publicity
You are so on point with this statement. I think that the idea is to try and sell him as a potential successor to the Governor in future. However, the man has no credentials to carry that position.
And besides, the statement should not have come from his department as it is part of administration which is Mabula-Kankasa’s department.
“Printing Coins”………….ba editor nishani kanshi:d
OK BOZ, I just hope that you will not suddenly discover a reason to do the trade mark flip flop of your sponsors.
We must have our eyes and ears open. These CPNs might take this advantage to print more money than there is in circulation, hence we should be ready for a high inflation! they intend to release the money close or at the sametime with the budget sometime in October, LOOK LOOOK, Just wait and see. MARK MY WORDS.
Debasing a currency actually lowers its value. There are hardly any positives because it also causes a form of inflation. I do not understand why Zambia has decided to go ahead with such a risky course of action. Firstly, the govt. is new – and literally disorganised in all areas of endeavour at the moment. Secondly, when were the feasibility studies done that produced results supporting this kind of action? In other words, even if anyone were to argue some positives associated with this action, would you have the confidence that this PF govt. even knows what its getting up to? By the way, what will the minimum wage be in this new currency dispensation?
Is it Debasing or Rebasing? I have these two words in use concerning this Re-denomination of our currency.
senseless government.
Hope no one is getting some 2% kickbacks from this exercise.:d
Bafi…….baku BOZ nabo bachilamo. Ama delays ubwingi. Efyo bapangila ifi ma K500 ifichuchuka kwati chitenge….ATASEEEE!!!
I used three coins ( 6 shillings) for Soda in Tanzania, i cant wait to use in Zambia, they are nice.
waiting patiently for coins.