The Reserve Bank of Malawi has on Wednesday released into circulation its long promised new-design banknotes.
On the new 1,000 Kwacha (about $4) banknotes – largest one in value- has the face of Malawi’s first president late Kamuzu Banda on the front of the note and the back of it carries Mzuzu maize silos.
The central bank has also released new bank notes with denominations of K500, K200, K100, K50, K20 and three coins of K10, K5, and K1.
The 500 kwacha bears the face John Chilembwe, Malawi`s first formal nationalist and freedom fighter and the Mulunguzi Dam at the back.
The 200 Kwacha bank note is embossed with Rose Chibambo`s face (Malawi’s first female cabinet minister only person alive on our bank notes) and the 100 kwacha notes stamped with the face of James Frederick Sangala – the founder of the Nyasaland African Congress who campaigned relentlessly for national unity in Malawi in the 1940s.
The K50 note has the image of Inkosi Ya Makhosi Gomani II – Philip Zitonga Maseko.
K20 – Inkosi ya Makhosi M’mbelwa II (Lazalo Mkhuzo Jere), 1915-1959.
According to central bank’s governor Charles Chuka, the themes on the new family of banknotes largely focus on the long-term objectives outlined in the Malawi Growth and Development Strategy (MGDS) namely, Sustainable Economic Growth, Social Development, Infrastructure Development and Good Governance.
Chuka said the new banknote series will run side by side with the old series for a period of one year to 22 May, 2013 after which the old series shall be withdrawn from circulation and cease to be legal tender.Follow and Subscribe Nyasa TV :