Zambia one hundred kwacha note
The one hundred kwacha note of Zambia is a denomination of the Zambian currency.
The current paper note, first issued in 2013 features the Freedom Statue in Lusaka, the issuing authority of legal tenders in Zambia, in the middle there is the National Assembly, the face value of the banknote in words in the lower left corner, and in numerals in the other three corners and the new printer imprint Giesecke & Devrient at the lower right corner, there is also a Buffalo on the reverse. The obverse features the African fish eagle which is considered as the primary recognition of the Zambian banknote, together with the coat of arms, the signature of the Bank of Zambia Governor and obligation to pay the sum indicated on the banknote, and the face value of the specified banknote and the Baobab Tree.
It is the highest denomination of banknote issued by the Bank of Zambia since January, 2013 when the three zeros from the preexisting denomination K500, K1,000, K5,000, K10,000, K20,000 and K50,000 were removed.
Mobile Transactions Zambia
Zambia's banking system imposes high fees on customers and only includes a minor part of the population. Therefore, as only 2 Zambians out of 10 own a bank account, MT intends to develop the cashless system to render financial transactions easier, faster and safer than with cash and paper money.
A more direct connection between the sender and the recipient lowers transaction costs and suppresses expensive and time wasting intermediaries. NGOs wishing to send money, companies that used to pay thousands of employees under the surveillance of armed guards and farmers who get paid more quickly and transparently, benefit from it. Besides, people feel safer as their money is stored electronically.