The fate of the old Kwacha banknotes has been sealed, with the Bank of Zambia (BoZ) announcing that all old banknotes will lose their value after March 31, 2026. BoZ says that effective April 1, 2026, the old banknotes will cease to be legal tender and will no longer be valid for transactions or accepted for exchange with the new currency series. BoZ Assistant Director for Communications Besnat Mwanza has urged members of the public to exchange their old banknotes at any commercial bank or NATSAVE branch across the country before the deadline.
Ms Mwanza said the exchange period will not be extended and that after March 31, the old banknotes will have no value. She explained that the new family of currency, which was launched on March 31, 2025, consists of six banknotes and six coins. Since its introduction, both the old and new banknotes have been circulating concurrently to allow the public adequate time to adjust and exchange their old cash.
Ms Mwanza said the one-year exchange period is in line with the Bank of Zambia (Withdrawal and Exchange of Currency) Regulations, 2025, as provided for under Statutory Instrument No. She said exchanges will be conducted at full value to ensure that members of the public do not incur any financial loss. Ms Mwanza further advised the public to avoid delaying the exchange process until the last minute in order to prevent inconvenience.
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