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BOZ to issue a commemorative banknote with portraits of President Sata and former Presidents

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Bank of Zambia Governor Michael Gondwe

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Bank of Zambia Governor Michael Gondwe
Bank of Zambia Governor Michael Gondwe

THE Bank of Zambia (BoZ) will honour President Michael Sata and all former Heads of State by incorporating their portraits on a commemorative banknote to be issued in October this year.

This is part of the golden jubilee celebrations to be held on October 24, 2014.

Central Bank Governor Michael Gondwe announced on Wednesday evening at the BoZ 50th Golden Jubilee gala dinner in Lusaka that the bank would honour President Sata, Dr Kenneth Kaunda, late Dr Frederick Chiluba, late Dr Levy Mwanawasa and Mr Rupiah Banda.

Zambia has had five Republican President in the 50 years it has been independent, with Dr Kaunda as the first one having ruled from 1964 until 1991 when Dr Chiluba took over.

As third President, Dr Mwanawasa ruled Zambia from 2001 until his death in 2008 when Mr Banda took over.

Mr Banda lost the elections to Mr Sata in 2011.

Dr Gondwe explained that the Central Bank would incorporate the portraits of Mr Sata and those of the four former Presidents on a commemorative banknote to be issued in celebration of Zambia’s 50th Independence anniversary.

As part of 50th anniversary, the Central Bank on Wednesday launched a bimetallic coin with a face value of K50, bearing the portrait of President Sata.

“The coin bears the Coat of Arms which is Zambia’s national symbol with the wording ‘Zambia’ and face value of fifty kwacha on the obverse side while the reverse side bears the portrait of the incumbent President with the wording ‘Bank of Zambia 50th anniversary’ and the commemoration period 1964-2014,” Dr Gondwe explained.

He said the coin symbolised the Central Bank’s continued support to the national economy through the issuance of legal tender, as well as prudent monetary policy management.

The BoZ also launched a book titled, “50 years of Central Banking,” with Dr Gondwe urging interested parties to take keen interest and obtain the book or purchase the coin from BoZ offices in Ndola and Lusaka.

editor
editorhttp://www.lusakatimes.com

111 COMMENTS

    • No, as a tax payer whose money will be abused in this exercise, I strongly OPPOSE this. I was not even consulted. I could accept if it was just Chiluba and Mwanawasa who have passed away as a remberence ..not Sata on our money please

    • I would put mr sata on the highest notes and the rest on Kaunda and probably wynter a well on coins and that’s it.

      Others have done more harm than good for the country as you will all agree with me

      BOZ I hope you are reading this.

      Thanks

    • “As part of 50th anniversary, the Central Bank on Wednesday launched a bimetallic coin with a face value of K50, bearing the portrait of President Sata.” Get over it mugs this is just a bi-metallic coin just like USA uses a 100 dollar bill with Benjamin Franklin’s portrait on the obverse of the bill.Even SA,Italy & Morrocco uses the bi-metallic coins…We will use HH’s potrait on pool table’s token’s so no worries UPND fanatics…I know UNIP,MMD & PF all their presidents on the coins except UPND…

    • Poor people know how to waste money. Aren’t there pressing issues in the country than waste it on portraits of presidents who have failed this nation.Look at Zambia 50yrs after independence….what exactly is there to boast about? We fly people to South Africa for treatment because we have no proper health system, our mineral wealth is in the hands of foreigners,our laws are those left by colonialists,people have no freedom of speech or assembly, we have not seen or heard from the head of state who is rumoured to be very sick and the citizens have no say,our roads are pathetic …..What exactly are we celebrating?

    • Learn to be Patriotic Bambala.. you are better of accepting the USD with potraits of former presidents and the Pound with the qeen but you dont want to celebrate your own leaders? what sort of thinking and greed is this? kamo nganiwe wali President?

    • This is a useless way of spending tax payers money. What kind of boot-licking is this. What achievements are there in the economy for this kind of lavish spending by BoZ? Work on stabilizing the now worthless kwacha and not what you are spending our money on.

    • This is not necessary! Please do not spend money for this useless gesture as we do not have any to waste. If Zambia was swimming in money then I would say by all means let’s go for it! Right now, you are going to use borrowed money to achieve this good for nothing exercise. It’s not necessary, we are still a HIPC ( Highly Indebted Poor Country) Whoever came up with this idea should be reprimanded or they can use their mother’s money for this useless gesture. We are tired of poor decisions whilst our children are dying in hospitals of hunger and lack of medicine and you have the audacity of trying to appease the glory men who have let us down immensely. Zambia is not a kingdom! Leave the Zambian note the way it is. If anything, a portrait of a malnutritioned dying child will suffice!!

    • Commerate Old man Sata for what? Taking unoffical sick leave and swearing-in ceremonies…this is a waste of taxpayer’s funds.
      if you can not stablise the Kwacha just step down simple as that…stop this appeasement.

    • My serious observation is that Saulosi and Mushota have no love for Zambia. How can you justify the spend on this guys? How? Search your souls, hand on your hearts and tell us this is a justifiable gesture at this juncture in our history just to celebrate a jubilee – 50 years in the wilderness! We can have a quiet commemoration filled with inward anger knowing it could have been better but we all failed. We failed as leaders and we failed as citizens for ushering in subsequent governments that have failed to take a lead on governing this great country to greater heights! WE HAVE FAILED ZAMBIA. WE ARE SO SORRY AND WISH TO TRY AGAIN STARTING FROM 2016. We are so sorry Zambia. I right with tears rolling down my face. So sorry this black skin has no love for one another!

    • One hit

      You are ranting as though Mr Sata is benefiting from all this, No he is not

      This is what the Zambians and the majority to put it mildly want. BOZ are independent of their operations from the Government and thus this gesture his nothing to do with Government spending any money they should spend otherwise.
      2 Separate entities here

      They are doing this not because of Mr sata is the president BUT but because, that is probably the right thing to.

      Anyone opposing this is misguided and have a flawed mental being and of course are not reading into this as good some of us who are elite.

      Lets us support the BOZ
      I have CIMA, ACCA, MBA MSC, Bsc Applied Accounts, and pursuing a PhD I know what I am talking about
      Thanks

    • @mushota, your useless credentials don’t mean a thing to me! I am public school educated and hold numerous degrees and certificates from high institutions of learning from all over the world. I advise the UK government on a lot of initiatives and sit on a number of committees and are now driving the 21st Century Networks and the IOE (internet of everything) initiative. The government is never separated from the Central Bank! Never! It’s the central bank that should be in the fore-front of coming up with measures that we stabilise our economy and not coming up with useless ideas that just dent our balance sheet! The government and central bank work in tandem and if I were you I would rip up those useless papers you hold as they are not even fit to be used as bum wipes.

    • Again, still far off even after 50 years of independence to distinguish between needs (necessities) and wants. The portraits of the men who fought for independence are more than enough.

      For those with a sense of humour, why do we want to devalue our currency by having a cobra’s portrait on the notes?

    • …@mushota still….. furthermore, this is not about His Exellency Mr Sata President elect of the Government Republic of Zambia. I don’t care who the president of Zambia is and wherever he is from. What I care about is that he has the utmost love for this country and executes his duties as expected of him holding the highest position in the land – that’s it! You elected Mr Sata and he will be the one to answer for the five years of his tenure in office and not the people. If Zambia had no issues with money then by all means we can do with lavish commemorations but this ain’t the case here. This gesture will cost millions of dollars to achieve and this is no small feat for a poor country like ours! Better build a hospital call “50years Central Hospital” and turn it into a super one!

    • @ Mushota …. Never bring up your qualifications on this forum as we will be able to deduce what level of education you hold from your writing style and train of thoughts. You should only share your qualifications with your family and husband if you have one and probably your employer that’s if I am not the one paying for your benefits whilst you comb the LT headlines trying to be the first to spew your ignorance first. You live in the UK, where people from all different walks meet. This is the boiling pot of all! intellectuals, beggars, beauties, wealthy men and women, working girls, druggies, crooks etc… I never see anyone of them walk with a flipping tag on their forehead saying they have CIMA, BSC, MCS , MBA PHD and their Bentley is parked outside. Black skin…cursed!

    • Lets do this.We know most on this blog are against it because of their political affiliations but this is not about Sata but about appreciating our history and the leaders that have helped shape it.We are where we are because of the efforts of these people.Lets go BOZ !!!

    • I think they should have put the departed leaders on these notes and the living ones on the bimetallic one but then again one of the living is a chitumbi as we speak so no matter…we could have even put freedom fighters like mama chikamoneka….or the man who coined our national anthem or those gallant ZNS boys who fought to guard Chongwe river dam and lost their lives

    • Mr President Sir……. isn’t this sort of acting a bit in the 1800s? Awe this one am not in support. I wonder who came up with such a suggestion?!!!!! I dont want to point fingers but Kabimba and Kaunda keep coming to my mind! Whatever the case this is not the way forward but backward. What is the essence of all this? There are alot of ways one can be honoured, so what happens in the next 50 yrs to come? will all the faces of the future 200 presidents be on the notes? Honour the poor in kwakalingalinga that would be the greatest of them all!

    • By the way, this is serving up more costs for the near future, imagine the next government doing away with this project by removing the ugly faces? How much will that cost again? Indeed Africans are deemed to be forever poor, money comes in from donors, IMF, import and export, but guess were it all goes, evaporates just like that through such brainless ventures!

    • Mushota….you also have delusions of grandeur and a borderline personality disorder whoch makes it harder for the self to see…just to add to your “credentials”. So suck on this. These are everyday policies that every country had to consider since SARS and way before. Look it up, then you’ll really understand. Ubhu folo.

    • The so-called our leaders have no heart for the country. All they know is to bootlick and waste taxpayers money at the expense of national development. Shame!
      In Zambia we need a new breed of political leaders not these recycled politicians. It’s too much.

  3. I knew you would use all manner of monkey tricks to have the potrait of Sata on our currency. Its not justifiable, just to say the least.

    • They can print Sata’s face on my butt coz that’s all he’s good for.This will save taxpayers money and trauma from the sight of Sata.

  5. Awe naimwe. Celebration iye na kundalama. Kanshi bonse batubikepo. Lets not overdo this silver jubile with all the other problems we have.

  7. This is way out of line no one would want to be looking at sata on their money. Please Mr Bank of Zambia governor behave yourself you did not consult any zambia over this. Nonsense!

    • These are traits of dictators, why should we have the face of a president on our money? What major achievements has he made this far, other than reducing money in the pockets of the poor through increased cost of living and reduced job opportunities for other tribes.

  8. All we want is the new constitution, not ifyama portriats, why is our government running way from real issues ‘the draft constitution’. Please twapapata, let the draft constitution be our jubilee celebration, your portriats are already on your national registration cards, that is enough. I hope namumfwa……….

  9. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK. UNIP IS BACK.

  10. @ 5, Mwine Mushi

    For sure these guys r wasting a lot of resource ON unnecesary things.
    The only person who qualifies 2b on those Notes its only KAUNDA. You cant manage putting every Jimmy & jack on the currency Note !!!

    We ve Examples over the world Starting frm US,UK,India, China etc. see the faces whch r on those Notes..!!!

    It pains me tht these GUYS R DOING THING haphazardly.
    I FEEL LIKE CRYING !! I am sweating blood.

    Are we cursed as a Nation or Wht ? Is ths the LEADERSHIP WE DESERVE?

  11. “As part of 50th anniversary, the Central Bank on Wednesday launched a bimetallic coin with a face value of K50, bearing the portrait of President Sata.” Get over it mugs this is just a bi-metallic coin just like USA uses a 100 dollar bill with Benjamin Franklin’s portrait on the obverse of the bill.Even SA,Italy & Morrocco uses the bi-metallic coins…We will use HH’s potrait on pool table’s token’s so no worries UPND fanatics…I know UNIP,MMD & PF all their presidents on the coins except UPND

    • Zambia youths are ever on facebook looking for ****,this is the time to come up with business ventures, something you can sell,like mug cups bearing the portraits of the leaders,musicians. There are so many things that can sell during this period.
      But they are waiting on Sata to get well to create employment.

    • @******* ****
      Your name sums it all. What else can you say to your Tumbuka kinsman-BOZ Governor Gondwe apart from p*** **** with his rotten ideas? These guys will not rest until they finish all the borrowed monies.
      Gondwe printed fake notes that are fading like toilet paper and he thinks we can allow him to do the same?

  14. As long as you put a recent photo of Charley on the coin, I have no problem! if you put the old one people won’t recognise him!

  17. Being ruled by a bunch of people that are so close to the grave. The independence generation are still celebrating their ancient triunph, seemingly oblivious to the struggles of today’s youths. Its aannoying.

  18. Instead of reducing lending rates and exchange rates they are busy pleasing the sick tired and dead presidents!

  19. It has been coming for a long time since Sata ascended to power! To hoondwink us, he reluctantly allowed some institutions to be named after Mwanawasa, so that we do not cry foul on such pronouncements as this. I wonder which portrait of his we will have have, since he does not have a good recent one! Then muzaona inflation, more than in Kaunda’s money days!

  21. We are spending more money to print money yet the exchange rate is at it’s worst in history. As a nation, what are our priorities?

  22. This does not make any sense at all. We don’t need any face on the Zambian currency. Now you are turning our currency into a photo album.

  23. No need for this futile exercise. Use the money for something else, you say people will not eat the constitution, that people need roads etc. Will his silly venture put food on people’s tables? Don’t pretend this is all about putting Sata’s face on a bank note. We are not in the 70’s. Priorities please. Saulosi, what say ye??

  24. Thats ZWD calls you dictating goverment , you dont consult ,how do you honour someone who only go 40% votes.

  25. @Ulemona….
    NO ONE APART FRM KK qualifies. Its really painful & I cant bare this NOSENSE anymore.

    Wht ve we done as a nation to b CURSED TO THS LEVEL !! Ths is unfathomable. The economy is failing & BOZ is behaving like ths !

  27. Spending the little money you have on useless, very useless projects. So what if you have KK, Sata, RB, Levy, FTJ portrait on the banknote?? What economic gain and benefit does it bring?

    • There is nothing wrong with dictatorship per se. What is important is how the dictatorship is used. The Americans have brought havoc to once peaceful countries were Christians, Sunni and Shiite Muslims used to live side by overthrowing dictators in the name of democracy.

  32. With all the challenges like the Wage Freeze for civil servants, is this surely the most prudent way of suing tax papyers’ money.

    Can the Spokesman for BOZ anser this question.

  33. This is lack of seriousness, its like kids making toys. what is it you want to achieve? Just find ways of addressing the free fall of the Kwacha.

  35. Thanks BOZ. You have put to shame vampires who have sworn upon their tails that they have nothing to do with Sata. This time they will embrace president Sata everywhere. They can’t do without money. If they are allergic to portraits of Sata they will develop scabies on their faces.

    • Typical DICTATOR thinking! What you are saying is F**K the Zambian people. You don’t care what they think.

      Sata style. BASTARD!

  36. It’s shocking and overly annoying just to see how this government of Sata can be so petty and wasteful. One thing they ought to know though is that the likes of Nicolae Ceau?escu of Romania, Laurel Kabila of Congo, and João Bernardo Vieira of Guinea Bissau etc were SHOT and killed by their own people for exactly this kind of behavior Sata and his henchmen are doing. It’s shocking though that he does not want to appear in public for people to see him but is comfortable for people to stare at his still picture, everyday, on the currency.

  38. Your Excellency Michael Chilufya Sata.
    You may recall meeting me in Lusaka sometime before your elections, accompanied by our representative, Mr Gabriel Daka.
    I find it necessary to make direct contact with you concerning delays incurred within the offices of the Minister of Finance and the Minister of Mines & Energy. Since end last year, we have submitted our formal proposals to FINANCE and restructure these essential projects, being Indeni Refinery (or building a NEW OIL REFINERY) and to construct new HYDRO-POWER GENERATION PLANTS, as well as the rail line from Chipata to Mpika. All the FINANCE has been secured. We have requested on numerous times, for a meeting with these Ministers, in order to do our formal presentations. Yet as at todays date,neither of them have responded.

    • The above shows the calibre of people we have in our ministries. These dudes have their own money to re-do Indeni and Chikwanda feels it is ok to ignore them. The poor b@stard is now appealing to Sata though that useless facebook page of his!! Is this not insanity of the highest order???

  40. Oh no!!! This is really going to kill this upnd boy hh. He has been left out? In fact he would have wanted to be alone on this note….just saying

  41. Not a day passes by without reading some useless and stupid money-wasting adventures to appease a useless president. It’s sickening.

  43. ….I can only imagine the confusion and delays which will be happening in banks, supermarkets…..Die-hard UPND cadres given notes with MCS face and similar situations. I foresee the cadres rejecting certain notes and asking for preferred ‘faces’….Agony is when u are UPND die-hard cadre and the ATM discharges 20 – K100 notes with MCS face….lol

    • @dudelove..
      …you may be UPND sympathiser, but it could have done you no harm to read thru my positing a couple of times before exposing your lack of sense of humour. Instead of UPND, I could have said MMD, NRP or simply ‘the opposition’. Just try to substitute the term UPND with ‘the opposition’ in my comment..
      Next time comprehend your friend’s comment before making a counter reaction…I’m not for the idea, but knowing the current administration, they have already single sourced the printer and the notes are on the way to Zed.
      I would have preferred that money for printing the same is used to print banners for 50 anniversary and erect bill boards every corner of the country, every street…urban/rural just like the way RB painted the whole country blue in 2011

    • My bad dude. You have to agree it is quite hard to have a sense of humour considering the direction these apes are taking our country. Worse still for some of us seeing it first hand as we live here.

  44. Good.

    Now consider other Freedom Fighters, including the man who sung “Africa, mayo Africa”, Nkhumbula, Kapwepwe, and Mama Chikamoneka.

  46. …whatever the BOZ want to bulldoze thru, notes with MCS face must be avoided for now at all cost. Mind you, this is a democratic country. Notes with the faces of the incumbent president who intends to contest in 2016 shall be deemed as campaign material…..ECZ will agree with me that will create uneven plying field………

    • @Scrutinizerer, yeah yours is probably the most thought after (outside the box) comment… I think you are really making sense and I got to agree with you on this one. What happened to your earlier comments above (are you the same person?)

      The most expensive part of this venture is that the next govt will come in and re-do this all over again. I think the people who decided to remove KK’s face from coins and notes should have been consulted before doing this.

      They might as well have put Roy Welensky’s face there too, hahaha.

  47. What next, composing song to highlight “dear leader”achievements? Or, commemorative postal stamp, copper colored with “dear leader” thoughts (one postal stamp can accommodate not just his but also his closest advisers wisdom).

  51. One freedom song goes like: Kale Bamwisa baletwika ubulofwa. Ngabakwikata bakubika mucifungo. Nomba iyo. Nomba iyo mwebanandi. Mayendele, mayendele muno Zambia. Long live freedom of speech and movement!

  52. Oh dear so this is their creativity? if they were smarter than a 5th Grader, they could have come up with a public competition on how best to celebrate Zambia’s 50th Anniversary of Independence; how to improve the economy and then some. Kids with better ideas would have come up with better creativity than this sucking up to Mr Sata and his kind of failed politicians.

    By the way One Hit Wonder, thanks for schooling our Lady Mushota… most of us realised long time ago that she is a joker who knows how to get under people (like you)’s skin if you take her too seriously. Majority bloggers just ignore her attention seeking rants. You are speaking sense but your arguments are diluted by your continued insecure reference to ‘black skin.

    • @Maverick, it’s only the truth and I ain’t ashamed of saying it! We are egoistic, selfish and don’t see sense even when it’s in capitals and bold letters. Why is that no matter where in the world – far flung places around the world where you find black skinned people their mentality is the same and are always at the bottom of the pile and the ecosystem? Is it just a coincidence? Be it in Australia, Europe, Far East, America, Madagascar or even if we all started afresh on another planet and too 10 pregnant black women, 10 pregnant white women, 10 pregnant Japanese women and all to bear their kind and then these women were brought back to earth and these children left to be looked after by some robots. The black ones will quickly develop the bad traits. The curse of the black skin….

    • @ One Hit Wonder, you sound like you have some serious insecurity issues. I really can’t believe that you think the colour of one’s skin has anything to do with the many social problems happening around the world. Go to Eastern Europe like Ukraine and go and see poor white people suffering worse than Zambians. Then try to head to our neighbour Botswana for comparison.
      All the historical, cultural, nurture and of course br@inwashed mental!ty have contributed to the social issues we see today. Most powerful country is today being ruled by a black president. Soon you’ll talk about the Chinese as a better race.

      You really sound like the Mushota you are condemning. By the way you also boasted about your achievements even all the while you were d!ssing her for it.

  53. Zambia is fast becoming North Korea. The orgy is on the up-swing. Isn’t there enough toilet tissue in the country for that horrible bank of Zambia to think of printing some more?

  54. Atase. Now we’ll have Satas ugly face as a constant reminder. Jeez!! Shouldn’t people be a little more attractive to end up on a bill?This is the stupidest thing I ever heard!! Getting his face on a bill & even using other presidents so he doesn’t have to explain it to the people.

    • I hope they will take Sata for plastic surgery before getting his portrait. The current photos with red lips are scarey!

  56. I think, its a crazy idea putting our President SATA on the banknotes who don’t you that we are going to be happy with that?

  57. Whilst we are having a currency crisis, they hard time to deliberate on portraits on notes,

    And if BOZ is an independent institution, what business is theirs to honoring politicians. including weaklings.

    Very shameful and nonsensical

  58. Oh God! This sounds like an advanced Grand Orbituary in anticipation of the inevitable act of Mother Nature. We hope the banknotes depicting Sata’s face will be ephemeral.

  59. This is bullshit! We should kick these chaps out by 2016 to save our Zambia! Sata does not deserve this nonsense!
    To be honoured for oversleeping at State house! What nonsense is this?

  60. Great nations honor great men. Time determines great men.
    How can we honor a person who has done only half the work. Imagine buying your child a gift when he comes home with a report card and his score is below 50%.

    Also, only dictators honor themselves (yes, I can hear people saying it was Boz’s decision – hilarious).

    #ThisIsWhyWeArePoor
    #OneZambia

  61. Ba BoZ naimwe, yayayayaya. Yours is financial and economic stabilisation and emancipation of Zambians in that area. Not such not-so-worthy projects.

    You could have asked entrepreneurs to put such on mug cups, chitenge, lolly pops, keyholdres, shirts and t-shirts, exercise book covers and other handy items.

    I say so because the cost of doing what you are doing is not seriously beneficial.

  63. Luck of financial thinking is an inborn disability in all Gondwes.E.g Minister of finance in malawi is Goodall Gondwe in his provisional budget he allocated 20Billion malawi kwacha for construction of toilets and yet so many hospitals need medicine,millions of malawians need clean tap water and here we have another gondwe in BOZ instead of strategising on stabilising the kwacha he’s printing faces of presidents on bank notes.This is utter nonsense

  64. Not The Sitting President on our Money….NO! May be the former presidents to honor them and remember their contribution to the Peace and prosperity of this Great NATION. Sata can be included when he is former or late to honor him as well with what he would have done. for now why are you honoring him? may be you know that he will be ………..?

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