BOZ SOUNDS ALARM AGAINST FAKE CURRENCY MYTHS

By BUUMBA CHIMBULU

THE Bank of Zambia (BoZ) has called on the public to remain vigilant in checking the security features on the new banknotes, cautioning against misinformation that could undermine confidence in the national currency.
The central Bank has dismissed recent claims suggesting that the security features of the new currency are insufficient and in need of enhancement.

BoZ Assistant Director of Communications Besnat Mwanza emphasised that the new banknotes feature a refreshed design and advanced security measures aimed at deterring counterfeiting and maintaining public trust.
“The new banknotes incorporate innovative security features to stay ahead of increasingly sophisticated counterfeit methods. This step is crucial, especially as counterfeiters continue to adopt more sophisticated method,” Ms Mwanza said in a statement yesterday.
She added that the Bank has also launched a mobile application, Zambian Banknotes, to raise awareness and improve understanding of the features of the new currency.
“A core function of any currency is to maintain its integrity and resist counterfeiting. Over the past decade, technological advancements have significantly enhanced banknote security. The Bank remains committed to upholding the highest standards to protect the integrity of our financial system,” she noted.
On March 31, 2025, BoZ issued a new currency family, marking a milestone in Zambia’s monetary history.
The series includes six banknotes—K500, K200, K100, K50, K20, and K10—and six coins—K5, K2, K1, 50N, 10N, and 5N.
The new banknotes incorporate multiple security features, such as watermarks, security threads, and colour-shifting elements, to combat counterfeiting.
Additionally, tactile marks and varied sizes of notes and coins are designed to help visually impaired users distinguish between denomination