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BOZ introduces notes with enhanced features

Filed under: Breaking News,Business |
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The Bank of Zambia (BOZ) has upgraded security features of kwacha notes from K2 to k100 in an effort to counter rampant counterfeiting of existing original banknotes by criminals both within and outside Zambia.

BOZ governor Denny Kalyalya officially launched the enhanced notes in Lusaka today.

Dr Kalyalya disclosed that a new security feature called sparklive has been incorporated in the figure on the lower right hand side to further shield these banknotes from being counterfeited.

He further indicated that one of the security features will exhibit three overt visual characteristics like color-shift properties, optical brightness and dynamic light effects.

Dr Kalyalya said that a new four-window security thread will replace the hologram on the front of the banknotes with tactile marks for the visually impaired put on both edges of the notes to enhance the sense of touch.

The Central Bank Governor said that the Bank will start circulating the upgraded banknotes in a phased manner, starting the with K2 and K5 denominations in August 2018.

The Bank will not withdraw the existing banknotes until the end of their circulation life meaning that the existing banknotes will co-circulate with the upgraded series and will continue to be honored at full value.

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Start: 2019-07-01 End: 2019-07-31