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BREAKING News: 3 Zeroes To Be Removed From Kwacha CURRENCY
The Zambian government will rebase the Zambian Kwacha currency by lopping off three zeros Finance Minister Alexander Chikwanda said on Monday 1/23.
Chikwanda told a media briefing today Monday 1/23.
What this actually means is that the rebasing of the Zambian Kwacha will be by dividing the current notes by 1000, consequently knocking out three zeros from all the denominations.
This means the K1, 000 will be K1, K5, 000 will be K5 while K50, 000 will become K50.
The government would also raise commercial banks’ capital requirements to make them more resilient to economic shocks.
Posted by
XnO
January 25, 2012 at 2:43 pm
This is another very disappointing move by the by the government. It is now vivid that this regime is more interested in two things i.e payback the previous regime and trying to satisfy only the people who were seen to be campaigning with them. 1st wrong move was permitting street vending. This is a poor policy which does not by any means benefit the Zambian economy which the PF so gallantly said they would improve. 2nd, the ZEROS! This is has a negative effect on the economy as it is not necessary and it in itself, is costly. By doing so so the government will sacrifice the doping inflation rate. Due to time, I will not conclude my point, but I’m sure the great neutral minds will have seen were I’m driving at!
mary
February 20, 2012 at 9:32 am
i wonder who helps the president make decisions.
Bee Master
June 16, 2012 at 1:14 pm
Go go Sata dats a vry great movie. Sata z the best Zambian President eva . Continue being wise n God richly bless u.
crazy dude
June 18, 2012 at 6:55 am
yes its a movie’he must be a great acter,we need some oscar award to zambia.
bridge
July 10, 2012 at 2:55 pm
GOOD MOVE