Zambia is a landlocked country located in the center of Africa. Its capital is Lusaka, located in the south-central part of Zambia. The area is 290,587 square miles. Most of the land was formed from a high plateau (3000 feet to 5000 feet above sea level). Its official language is English as a result of 76 years of British Colonization. Zambia took over its independence from Britain on 24 October 1964. Migrating from British pound to Zambian Pound and Kwacha.
The history of Kwacha banknotes.
The Zambia pound was issued in 1964 by the Central Africa Currency until the Currency Act (the arrangement of the decimal currency system) in 1967 established the new Kwacha with the currency code is ZMW and ngwee. The word Kwacha means “dawn” in Nyanja, Bemba, and tongue language which relates to the Zambia nationalist slogan of a “new dawn of freedom”.
Kwacha banknotes denominations are available in 20, 50, 100, 500, 1000, 5000,..50000 kwachas. Its value started at a Kwacha equaled $1.2 at first, however, because of high inflation it was decreased a dollar equaled 4.800 Kwacha in 2006 and remained the same nowadays.
In 1991, the features on Kwacha banknotes were changed to President Kenneth Kaunda on their front to their new issued denomination as a result of high inflation. In 1992, another new series was created with an African Fish Eagle on the facade, and with a chain breaker statue on the other side.
Zambia was the first country in Africa to start using polymer banknotes to prevent counterfeiting.