Kwacha rebasing exercise cheers East chiefs

Thu, 27 Sep 2012 15:14:57 +0000

 Chiefs in Chipata district have welcomed the move by the Bank of Zambia (BOZ) to sensitize residents in their area on the rebasing of the Kwacha.

They said that the exercise would enable the villagers to protect themselves against unscrupulous businessmen that might want to steal from them when the new Kwacha comes into circulation next year.

Senior Chief Nzamane of the Ngoni people said there was need to ensure that people were educated on the rebasing of the Kwacha so that they understand how the removal of the three zeros would impact on the Kwacha as a legal tender.

Chief Nzamane said this when a team of BOZ officers paid a courtesy call on him, adding  that there were misconceptions about how people will use the new and old currencies simultaneously , saying sensitization will clear all the misconceptions.

And Chief Mnukwa, also of the Ngoni people of Chipata, advised the officers to ensure that they educated villagers in remote areas who were likely to be swindled if they did not understand how the new notes would be put into effect.

Chief Mnukwa observed that some villagers were not even aware that the Kwacha was being rebased.

He said it was important to inform the citizens that the rebased notes would work side by side with the old ones for a period of six months to ensure that those who save money in their homes exchanged the old notes quickly.

Meanwhile, chief Chanje and chieftainess Mkanda of the Chewa have assured the BoZ team of support throughout their sensitization programme in the district