Zambian kwacha
official currency of Zambia
Zambian kwacha (sign: K; code: ZMW) is the official currency of Zambia, issued by the Bank of Zambia. It is subdivided into 100 ngwee. On 31 March 2025, the Bank of Zambia launched the new "Heritage Series"—a refreshed currency family of six banknotes (K10, K20, 50, 100, K200, K500) and six coins (5 ngwee, 10 ngwee, 50 ngwee, K1, K2, K5)—featuring enhanced security and national heritage themes.
Etymology
The name kwacha derives from the Nyanja, Bemba, and Tonga language word for "dawn", alluding to the Zambian nationalist slogan of a "new dawn of freedom". The name ngwee translates as "bright" in the Nyanja language.
History
Prior to independence in 1964, the Rhodesia and Nyasaland pound was the legal tender of the British protectorate of Northern Rhodesia. Banknotes of 10 shillings, 1, 5, and 10 pounds issued by the Central Africa Currency Board were in circulation, together with coins of 1⁄2, 1, 3, 6 pence, and 1, 2, 2+1⁄2, and 5 shillings. After independence, the Bank of Zambia issued the first Zambian currency, the Zambian pound, in 1964. The issued paper bills and coins were of similar denominations as these used before independence, except for the 10 pounds note, which was never issued by the Bank of Zambia. A new design to depict the newly independent country's history and struggle was adopted.
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This entry incorporates text from “Zambian kwacha” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.