New Kwacha Notes: A Simple Currency Swap, Not Inflation – Jito Kayumba
Lusaka, Zambia – April 21, 2025
Presidential Economic Advisor Jito Kayumba has reassured Zambians that the newly introduced Kwacha notes will not cause inflation or increase the amount of money in the economy.
Speaking in Lusaka on Monday, Kayumba explained that the new notes are simply replacing old ones, not adding extra money. “This is a straight exchange,old notes for new ones. The total cash in circulation stays the same, so prices won’t rise because of this change,” he said.
The updated Kwacha bills, issued by the Bank of Zambia, come with better security and a longer lifespan. While they look different, their value hasn’t changed,a key point for a country where rising prices remain a major worry for many.
Kayumba also shared that this move is part of a bigger plan to strengthen the Kwacha. Soon, it will be the only accepted currency for local payments, reducing reliance on foreign money like the US dollar.
“In the past, some businesses,especially in property, mining, and high-end sales,used dollars instead of Kwacha. That weakens our currency. These new rules will help change that,” he said.
The government is working on multiple fronts to stabilize the economy, from controlling spending to managing debt. The new notes, though mostly about design and security, fit into this broader effort.
Kayumba’s message is simple: there’s no need to worry. The new Kwacha notes won’t affect prices or the economy’s health. Instead, they’re a step toward a stronger, more trusted national currency.
For now, Zambians can focus on using the fresh bills knowing this is just an upgrade not a shake-up.