Bank of Zambia issues new Heritage Series banknotes and coins and begins one-year parallel-circulation transition

The Bank of Zambia has issued a new “Heritage Series” currency family, introducing six banknotes (K500, K200, K100, K50, K20 and K10) and six coins (K5, K2, K1, 50N, 10N and 5N) as part of a currency modernisation and anti-counterfeiting upgrade. The Bank cited a modern design, enhanced security features, the introduction of higher-value notes (K500 and K200), a revised note-coin boundary (new K5 and K2 coins) and more durable substrates for lower-value notes (K20 and K10), within its currency-issuance mandate under the Constitution of Zambia (Amendment) Act, 2016 and the Bank of Zambia Act, 2022. The new designs highlight Zambia’s flora and fauna and depict key economic pillars including mining, tourism and agriculture, with the African Fish Eagle on the front and waterfalls on the reverse. Public-facing security features include watermarks, security threads, colour-shifting elements, latent images, see-through registers and serial-number checks, alongside tactile marks and size differences to support visually impaired users. From March 31, 2025, the new banknotes and new K5, K2 and K1 coins supplement existing legal tender, with existing banknotes continuing to circulate alongside the new family until March 31, 2026 and exchange of old notes for new currency free of charge. The existing K1, 50N, 10N and 5N coins will remain legal tender even after March 31, 2026, while the new K100 and K50 banknotes are scheduled to become available in September 2025; the Bank also noted ongoing public sensitisation efforts and work with mobile money operators to address fraud risks linked to misinformation.