ZMW 50 | Bank Note | Fifty Kwacha | Kae Kae | CurrencyStackerKK | Zambia | Africa
50 Zambia Kwacha
The kwacha (ISO 4217 code: ZMW) is the currency of Zambia. It is subdivided into 100 ngwee. 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.
Prior to independence in 1964, the Rhodesia and Nyasaland pound was the legal tender of the short-lived 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 ½, 1, 3, 6 pence, and 1, 2, 2½, and 5 shillings. After independence, the Bank of Zambia issued the first Zambian currency, the Zambian pound, in 1964.
New Kwacha (2012 series) – On January 23, 2012, the Bank of Zambia proposed certain measures in regards to the redenomination of the Zambian kwacha. The recommendations assented to the parliament on November 3, 2012. Later, The Re-Domination of Currency Act (Act 8 of 2012) was enacted on December 3, 2012. The old currency unit was divided by 1000, hence, removing three zeros from the preexisting K50,000, K20,000, K10,000, K5,000, and K1,000. The lower denominations of K500, K100, and K50 were also divided by 1000 and were changed into the 1 Kwacha, 50, 10, and 5 Ngwee coins respectively. On the other hand, the preexisting K20 banknote was removed from circulation due to its extremely low purchasing power.
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