Interview with Angela Chileshe, Director Banking and Currency Bank of Zambia

One Zambia, One Nation

On March 31, 2025, the Bank of Zambia began issuing a new family of banknotes consisting of six denominations. We caught up with Mrs Angela Chileshe, Director - Banking and Currency, Bank of Zambia at the International Mint and Print Conference in November, to gain insights into the new series, and particularly the technical novelty of the new series low denominations, the 10 and 20 Kwacha.

Hello Angela, can you start by telling us something about the new series and the objectives sought by the Bank with its introduction?

Yes, the new series celebrates the heritage of the Zambian nation with a bright design showcasing a selection of fauna, flora, and waterfalls. The African Fish Eagle is shown soaring on the front side of each banknote, with one of Zambia’s key economic pillars depicted in the background. On the reverse side, six of the nation’s most beautiful and renowned waterfalls are featured, along with a selection of indigenous animals and trees.

In terms of objectives, the Bank of Zambia focused on three principal drivers for the new family of banknotes: strengthening security, improving convenience, and enhancing durability.

The new family of banknotes represents a significant step forward in both composition and structure. It introduces two new high-value denominations, the K200 and K500, while setting the lowest banknote denominations at K20 and K10. Additionally, the K5 and K2 notes have been converted into coins. This revised denominational structure supports our goal of delivering greater efficiency, from providing a better store of value to enhancing the convenience of everyday transactions.

How about in terms of security?

The Bank of Zambia follows closely industry developments and takes note of significant advances in technology with respect to producing better security features. The new middle and new high value denominations embrace a conventional and time-proven approach to public and machine security. The new K20 and K10 banknotes reconcile two opposing objectives: increased security and durability.

Are security and durability related?

Yes, although we often take for granted how quickly the public authenticates banknotes, good banknote design, both in materials and layout, is essential. As Professor Raymond highlighted in her presentation here at Mint and Print, people can check a banknote in about one second, but accurate verification depends on features that are easy to identify, difficult to counterfeit, and printed on banknotes that remain in good condition, free from excessive wear and tear.

How did this figure into the design of the new K20 and K10 banknotes?

We sought a technical approach that could leverage the public’s familiarity with the security features used in previous series but deliver increased durability and longevity. We pursued this not only to lower overall costs, but to increase security and confidence in the entire series from bottom to top. The approach we used is a novel combination of the composite banknote substrate Durasafe® produced by Swiss company Landqart, and the micro-optic security thread RAPID® HD from Crane Currency.

How does the design and production of these banknotes differ from the other denominations?

The merging of these two technologies presents challenges and opportunities for the banknote designer. In the case of K20 and K10 banknotes, the uniquely durable construction presents the RAPID HD security thread in a single, long window. The super-large viewing area enables the public to verify the thread’s customized movement effects at a glance. In addition, because RAPID HD security thread has a smooth surface and the banknotes are over-varnished, these ‘workhorse’ denominations enjoy both improved physical durability and deliver better visual security. Of course, these new durable banknotes retain the feel of paper banknotes, and watermarks, and visually complement the entire series.

What reaction have you seen from the public so far?

In preparation for roll-out, the Bank conducted a nationwide Currency Sensitisation Campaign to educate the public on the security features of the new currency family. The public’s initial reaction was marked by skepticism and, naturally, the common apprehension that often accompanies change. However, over time, the new currency has gained general acceptance. The public have welcomed the wallet friendliness of the new high value denominations and the general aesthetics of the new family. There has also been positive feedback on the cleanliness of the general currency in circulation after the launch of the new series.

Thank you, Angela. Congratulations to the Bank of Zambia on its new series of banknotes.

Editor’s Concluding Passage

The approach used by the Bank of Zambia in securing its new low denomination banknotes is innovative on multiple levels. Through the cooperation of multiple suppliers, it embraced technical advancements that push boundaries to greater value and a reconciliation of security and durability. The Bank of Zambia now has high-tech low denomination banknotes that harness the durability of a composite substrate while not giving up the proven, positive attributes of cotton paper like the watermark, RAPID HD security thread, and banknote ‘feel’. By every measure, the K20 and K10 banknotes support the Bank’s easy to follow “look, touch, tilt” guidance and are truly counterfeit-resistant integrated security products.

For more information see – Bank of Zambia website