Zambia: The Zambia National Marketeers Credit Association (ZANAMACA) has applauded the government of Zambia for successfully putting the newly launch banknotes and coins into circulation. The administration has shared that new currency was officially launched on March 31, with notes, and coins being made legal tender for the whole nation.
The new currency was first announced on February 12, 2025 and includes six banknotes and six coins. The new currency is aimed at improving financial security, transaction efficiency, and economic stability.
ZANAMACA President Frank Mupila Kameya has commended the Bank of Zambia for successfully implementing the new notes. He added that the initiative marks a significant milestone for the country’s informal sector, which heavily relies on cash transactions.
Kameya emphasized that marketeers, traders, and small-scale farmers will benefit from these enhanced security measures. The measures taken by the government ensure greater protection against financial fraud and counterfeit currency.
The new currency consists of K500, K200, K100, K50, K20, and K10 banknotes, along with K5, K2, K1, 50N, 10N, and 5N coins.
In addition to security, the redesign of the currency is expected to enhance transaction efficiency. The introduction of higher denominations such as K500 and K200 will reduce the volume of cash that businesses need to handle daily.
This change is particularly beneficial for female traders, who make up 60-80% of ZANAMACA’s membership, as well as the youth, he said.
ZANAMACA also sees the new currency as an opportunity to promote financial inclusion and digital adoption. By encouraging traders to transition towards formal banking systems and digital transactions, the initiative aligns with the association’s goal of improving financial literacy among marketeers and small-scale traders.
The organization plans to work closely with financial institutions to educate its members on the benefits of using digital payment platforms. The introduction of new coins to replace lower denomination banknotes is also expected to improve currency durability and reduce long-term printing costs.
Mr. Kameya noted that the use of coins will enhance sustainability in financial planning while ensuring that traders have access to reliable cash denominations for daily transactions.
ZANAMACA has pledged to support its members throughout the transition by conducting sensitization programs in all ten provinces.
The association has pledged to collaborate with government’s line ministries, banking institutions, and other stakeholders to ensure that marketeers are well-informed about the new currency and its features.
Kameya urged all Zambians to embrace the changes and remain vigilant against fraudulent activities to ensure a smooth and successful transition.