9.5 C
Alba Iulia
Thursday, September 24, 2020

Chinese Ambassador commends rebased currency

Economy Feature Economy Chinese Ambassador commends rebased currency

File:President Sata talks to Chinese Ambassador to Zambia Zhou Yuxiao
File:President Sata talks to Chinese Ambassador to Zambia Zhou Yuxiao

Chinese Ambassador to Zambia Zhou Yuxiao says the newly launched rebased Zambian currency will make business easy for Chinese investors working in Zambia due to its similarity to their currency Yuan.

The Chinese Ambassador noted that the Chinese people will have no difficulties understanding the rebased Zambian currency because the new notes and coins have less zeros which used to confuse them.

Mr Yuxiao disclosed that the Chinese government through the Bank of China based in Zambia has made enough sensitization to Chinese nationals living in Zambia by using the Chinese language especially for those that do not understand English.

He noted that the Bank has also printed the adverts in the daily papers for Chinese nationals who are unable to access the Bank of China which is in Lusaka so that that they are not caught unaware.

He added that the embassy will further post the new rebased currency on the website as part of the sensitization campaigns.

The Ambassador noted that the rebasing of the currency is a good thing for the economy and investors who have pumped their monies into the country.

He said the Chinese investors are confident of the good economic policies of Zambia adding that even the rebasing of the currency is not a new thing to them as they are always kept aware by government.

The Ambassador further hailed the good investment policies by the Patriotic Front government and assured that his country hopes to continue increasing investments in Zambia.

Mr Yuxiao noted that Zambia being a peaceful country coupled with its sound economic policies, investors will always abide by the changes such as the kwacha rebasing.

He disclosed that his countrymen and women have invested in excess of US$2 billion in various sectors of the economy.

The Chinese Ambassador was among the dignitaries that attended the official unveiling of the new notes and coins at the Government Complex in Lusaka this morning.

The new currency will be in circulation starting tomorrow and will circulate alongside the old currency up to 30th June 2013.



  1. Good job for the PF indeed. Keep it up guys while ignoring those born hares and frustrated.

    Peace and Prosperity to Mother Zambia.

  2. PF, welldone.A leader should leave a mark.This Govt. is on the right track.Unless you are blind you will disagree.

  3. Good move, it was disgracing to zambians leaving abroad when you want to send $200 or £200 in Zambia is in millions. Even the person at the till can even state how much if asked. Zeros use to confuse visitors from other countries.

  4. It really is really rare nowadays to locate blogs that present information someone is searching for. I’m glad to determine that your blog share valued information that could help to several scaners. cheers and maintain writing!

Comments are closed.

- Advertisement -
- Advertisement -

Latest News

PF wants to disrupt President Lungu’s Trip to Monze so they can arresst HH, Nalumango

United Party for National Development (UPND) National Chairperson Mutale Nalumango has said that the party has unearthed a...

Government warns against succession wrangles as Chief Mukonchi is buried

Chiefs and Traditional Affairs Minister, Lawrence Sichalwe has advised the people of the Swaka chiefdom to remain calm following the death of Chief Mukonchi....

Encroachment in Namwala and Mumbwa Game Reserves Areas Worrying-Itezhi Tezhi District Commissioner

Government has bemoaned increased encroachment in Namwala and Mumbwa Game Management Areas (GMAs). Itezhi Tezhi District Commissioner, Isaac Nabuzoka said Namwala and Mumbwa GMAs have...

Government gets support from EAZ on Suspending Debt Payment

The Economics Association of Zambia has said that it is encouraged that the Zambian government has joined other countries in implementing measures aimed at...

Edith Nawakwi’s Lawyer Responds to HH, claims lacks sufficient particulars

FDD President Edith Nawakwi has responded to her UPND counterpart Hakainde Hichilema’s lawsuit in the High Court by asking for better particulars. Mr Hichilema is...

More Articles In This Category