What is the official currency in Zambia?
Zambian kwacha
The Kwacha (ISO 4217 code: ZMW) is the currency of Zambia. It is subdivided into 100 "Ngwee".
Zambia
See
Zambian kwacha
The old currency unit was divided by 1000, hence, removing three zeros from the preexisting K50,000, K20,000, K10,000, K5,000, and K1,000. The lower denominations of K500, K100, and K50 were also divided by 1000 and were changed into the 1 Kwacha, 50, 10, and 5 Ngwee coins respectively. On the other hand, the preexisting K20 banknote was removed from circulation due to its extremely low purchasing power.
Access Bank Zambia
The headquarters and main branch of Access Bank Zambia are located at 632 Cairo Road, in the city Lusaka, the capital city of Zambia. The geographical coordinates of the headquarters of Access Bank Zambia are: 15°24'43.0"S, 28°16'49.0"E (Latitude:-15.411944; Longitude:28.280278).
Gambian pound
The Central Bank of The Gambia took over assets and liabilities of The Gambia Currency Board in 1971 and a new decimal currency was introduced to replace the Gambian pound. The new currency was the Dalasi with 1 dalasi being subdivided into 100 bututs. Again, the coins were minted by the Royal Mint and the notes were printed by Bradbury Wilkinson & Co. Ltd.
Flag of Zambia
The current flag is used as both national flag and ensign. It is green with an orange-coloured African fish eagle in flight over a rectangular block of three vertical stripes, coloured, from left to right: red, black and orange. The placement of the eagle and block of stripes at the flag's fly is notable as most emblems and devices on flags are placed at centre or at the hoist. The colours used in the flag of Zambia are rich in symbolism. Green stands for the nation's lush flora, red for the nation's struggle for freedom, black for the Zambian people, and orange for the land's natural resources and mineral wealth. Additionally, the eagle flying above the coloured stripes is intended to represent the people's ability to rise above the nation's problems.
Bank of Zambia
According to its website, the principal responsibility of the bank is to create and implement monetary policy that will maintain the economic stability of the country. The Bank is active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion. It is also one of the original 17 regulatory institutions to make specific national commitments to financial inclusion under the Maya Declaration, during the Global Policy Forum, held in Riviera Maya, Mexico in 2011.
The Bank of Zambia has origins in the 1938 formation of the Southern Rhodesia Currency Board, which was based in Harare, in present-day Zimbabwe. The Board's jurisdiction included Northern Rhodesia, now called Zambia and Nyasaland, known as Malawi today.
Taxation in Zambia
Zambia also charges Indirect taxes: Import Duty, Excise Duty and VAT (Value Added Tax). VAT rate is at 16%, with some items being exempted or zero-rated.
Zambia
In the 2000s, the economy stabilized, attaining single-digit inflation in 2006–2007, real GDP growth, decreasing interest rates, and increasing levels of trade. Much of its growth is due to foreign investment in mining and to higher world copper prices. All this led to Zambia being courted enthusiastically by aid donors, and saw a surge in investor confidence in the country.
Hyperinflation
On 1 August 2008, the Zimbabwe dollar was redenominated at the ratio of ZWN to each third dollar (ZWR). On 19 August 2008, official figures announced for June estimated the inflation over 11,250,000%. Zimbabwe's annual inflation was 231,000,000% in July (prices doubling every 17.3 days). By October 2008 Zimbabwe was mired in hyperinflation with wages falling far behind inflation. In this dysfunctional economy hospitals and schools had chronic staffing problems, because many nurses and teachers could not afford bus fare to work. Most of the capital of Harare was without water because the authorities had stopped paying the bills to buy and transport the treatment chemicals. Desperate for foreign currency to keep the government functioning, Zimbabwe's central bank governor, Gideon Gono, sent runners into the streets with suitcases of Zimbabwean dollars to buy up American dollars and South African rand.
Access Bank Zambia
Access Bank Zambia Limited, commonly referred to as Access Bank Zambia, is a commercial bank in Zambia. It is licensed by the Bank of Zambia, the central bank and national banking regulator.
Atlas Mara Bank Zambia Limited
Atlas Mara Bank Zambia Limited (AMBZL), commonly referred to as Atlas Mara Bank Zambia, is a commercial bank in Zambia. It is licensed by the Bank of Zambia, the central bank and national banking regulator. AMBZL was established on 1 December 2016, when BancABC Zambia Limited merged with Finance Bank Zambia Limited.
Hyperinflation in Zimbabwe
At independence in 1980, the Zimbabwe dollar became the common currency. Originally, the paper notes were in denominations of Z$2, 5, 10 and 20, and coins in denominations of 1, 5, 10, 20, 50 cents and Z$1. As larger bills were needed to pay for menial amounts, the Reserve Bank of Zimbabwe planned to print and circulate denominations of up to Z$10, 20, 50, and 100 trillion. Announcements of new denominations were increasingly frequent; the Z$200,000,000 bill was announced just days after the printing of the Z$100,000,000 bills.
Zambia
The official language of Zambia is English, which is used to conduct official business and is the medium of instruction in schools. The main local language, especially in Lusaka, is Nyanja (Chewa), followed by Bemba. In the Copperbelt Bemba is the main language and Nyanja second. Bemba and Nyanja are spoken in the urban areas in addition to other indigenous languages which are commonly spoken in Zambia. These include Lozi, Kaonde, Tonga, Lunda and Luvale, which feature on the Zambia National Broadcasting Corporation (ZNBC)'s local languages section. The total number of languages spoken in Zambia is 73.
The process of urbanisation has had a dramatic effect on some of the indigenous languages, including the assimilation of words from other indigenous languages and English. Urban dwellers sometimes differentiate between urban and rural dialects of the same language by prefixing the rural languages with 'deep'.
Zambia National Commercial Bank
Zambia National Commercial Bank, commonly referred to by the name "Zanaco", is a commercial bank in Zambia. It is licensed by Bank of Zambia, the central bank and national banking regulator.
Kalililo Kakonje
Zambia
Zambian kwacha
On January 23, 2012, the Bank of Zambia proposed certain measures in regards of the redenomination of the Zambian Kwacha. Such recommendations were initially approved by the government, being one of the measures required to address costs associated with the continuous devaluation of the national currency, due to depreciation throughout time, as a direct result of several years of high inflation rates that characterized the national economy during the late decades of the 20th century, and the early years of the 21st century. The recommendations were assented to the parliament on November 3, 2012. Later, The Re-Domination of Currency Act (Act 8 of 2012) was enacted on December 3, 2012.
The Gambia
English is the official language of the Gambia. Other languages are Mandinka, Wolof, Fula, Serer, Krio, Jola and other indigenous vernaculars. Owing to the country's geographical setting, knowledge of French (an official language in much of West Africa) is relatively widespread.
Outline of Zambia
History of Zambia
Football Association of Zambia
The FAZ Secretariat known as Football House is located on Alick Nkhata Road in the capital Lusaka.The Zambia national football team represents Zambia in association football and is governed by the Football Association of Zambia. During the 1980s, they were known as the KK 11, after founding president Dr. Kenneth Kaunda ("KK") who ruled Zambia from 1964 to 1991. After the country adopted , the side was nicknamed "Chipolopolo", the "Copper Bullets".
Gambian pound
The Gambian pound was the currency of the Gambia between 1965 and 1971. Gambia used the British West African pound until it issued its own currency on October 5, 1964. In 1971, the dalasi replaced the pound at a rate of 1 pound = 5 dalasis which means 1 dalasi = 4 shillings. One Gambian pound was made up of 20 shillings, each shilling being made up of 12 pence.
2016–17 Zimbabwe protests
The 2009 collapse of the Zimbabwean dollar led to the government's and the informal adoption of other currencies (e.g. the South African rand and the Botswana pula). However, due to US dollars becoming scarce in circulation, to address the shortages, the government announced that it would issue its own notes known as "bond notes" that would be equivalent to US dollars. This led to widespread voiced resistance and campaigns by Zimbabweans around the country, fearing the return of the Zimbabwean dollar.
Outline of Zambia
Zambia – landlocked sovereign country located in Southern Africa. Zambia has been inhabited for thousands of years by hunter-gatherers and migrating tribes. After sporadic visits by European explorers starting in the 18th century, Zambia was gradually claimed and occupied by the British as protectorate of Northern Rhodesia towards the end of the nineteenth century. On 24 October 1964, the protectorate gained independence with the new name of Zambia, derived from the Zambezi river which flows through the country. After independence the country moved towards a system of one party rule with Kenneth Kaunda as president. Kaunda dominated Zambian politics until multiparty elections were held in 1991.Geography of Zambia
Regions of Zambia
Zambia
Zambia is located on the plateau of Central Africa, between 1000–1600 m above sea level. The average altitude of 1200 m generally has a moderate climate. The climate of Zambia is tropical, modified by elevation. In the Köppen climate classification, most of the country is classified as humid subtropical or tropical wet and dry, with small stretches of semi-arid steppe climate in the south-west and along the Zambezi valley.
Lists of Zambia-related topics
Zambia, officially known as the Republic of Zambia, is a landlocked country in Southern Africa. The neighbouring countries are the Democratic Republic of the Congo to the north, Tanzania to the north-east, Malawi to the east, Mozambique, Zimbabwe, Botswana, and Namibia to the south, and Angola to the west. The capital city is Lusaka, located in the southeast of the country. The population is concentrated mainly around the capital and the Copperbelt to the northwest.
Languages of Zambia
Although there are several Languages spoken in Zambia, Seven of them were officially recognised as regional languages and they still have this official status. Together these represent the major languages of each province: Bemba (Northern Province, Luapula, Muchinga and the Copperbelt), Nyanja language NyanjaLusaka), Lozi (Western Province), Tonga and Lozi (Southern Province), and Kaonde, Luvale and Lunda (Northwestern Province). These seven languages are used, together with English, in early primary schooling and in some government publications. A common orthography was approved by the Ministry of Education in 1977.
List of renamed places in Zambia
The country now known as Zambia was known as Northern Rhodesia from 1911. It was renamed Zambia at independence in 1964. The new name was derived from the Zambezi river.The following name changes have been proposed but not actually implemented:
Eco (currency)
The goal of a common currency, first in West African Monetary Institute(WAMI)/West African Monetary Zone(WAMZ) countries – The Gambia, Ghana, Guinea-Conakry (which is French speaking but does not use the CFA franc), Liberia, Nigeria and Sierra Leone – and later in the whole ECOWAS area, was officially stated in December 2000 in connection with the formal launch of WAMZ. The Eco was first planned to be introduced in 2003, but this was postponed several times, to 2005, 2010 and 2014. At a meeting of the Convergence Council of Ministers and Governors of West Africa on 25 May 2009, the start of the currency was rescheduled to 2015 due to the international economic crisis. The December 2009 meeting also established a plan to begin work to merge the Eco with the CFA franc immediately upon the launch of the Eco; this was planned to be achieved by 2020.
Economy of Zambia
The Zambian economy has historically been based on the copper-mining industry. The discovery of copper is owed partly to Frederick Russell Burnham, the famous American scout who worked for Cecil Rhodes. By 1998, however, output of copper had fallen to a low of 228,000 tonnes, continuing a 30-year decline in output due to lack of investment, and until recently, low copper prices and uncertainty over privatization. In 2001, the first full year of a privatized industry, Zambia recorded its first year of increased productivity since 1973. The future of the copper industry in Zambia was thrown into doubt in January 2002, when investors in Zambia's largest copper mine announced their intention to withdraw their investment. However, surging copper prices from 2004 to the present day rapidly rekindled international interest in Zambia's copper sector with a new buyer found for KCCM and massive investments in expanding capacity launched. China has become a major investor in the Zambian copper industry, and in February 2007, the two countries announced the creation of a Chinese-Zambian economic partnership zone around the Chambishi copper mine.
Outline of Zambia
Economy of Zambia
Banknotes of Zimbabwe
The first banknotes of Zimbabwe were issued by the Reserve Bank of Zimbabwe (formerly Reserve Bank of Rhodesia) for the first dollar (ZWD) in 1980 to coincide with the independence of Zimbabwe. These notes replaced the circulating banknotes of the Rhodesian Dollar at par. The first series of banknotes ranged from $2 to $20, and carried the signature of Dr. Desmond Krogh, then the last Governor of the Reserve Bank of Rhodesia from 1973. From 1994 to 1997 the Reserve Bank issued a new series of notes ranging from $2 to $100, although the $2 banknote was withdrawn and replaced by a coin in 1997. As rising inflation started to affect the purchasing power of the Zimbabwean Dollar, the $500 and $1 000 banknotes were issued from 2001 to 2005 with enhanced anti-counterfeiting measures.
List of currencies in Africa
African currency was originally formed from basic items, materials, animals and even people available in the locality to create a medium of exchange. This started to change from the 17th century onwards, as European colonial powers introduced their own monetary system into the countries they administered. As African countries achieved independence during the 20th century, some retained the new denominations that had been introduced, though others renamed their currencies for various reasons. Today inflation often creates a demand for more stable (but forbidden) foreign currency, while in rural areas the original bartering system is still in widespread usage. As of January 1, 2013, the Zambian Kwacha (ZMW) has the strongest currency in Africa.
Gambian pound
When The Gambia was granted internal self-government in October 1963, rather than being a constituent colony of British West Africa the West African Currency Board ordered that the Gambian pound should replace the British West African pound in the colony and an order for unique banknotes was lodged with British banknote printer Bradbury Wilkinson & Co. Ltd. for 10 shilling, £1 and £5 notes. The new notes were issued within four days of the new currency ordinance under the oversight of The Gambia Currency Board, which came into effect on 1 October 1964.
Zimbabwean dollar
The first Zimbabwean dollar was introduced in 1980 and replaced the Rhodesian dollar at par. The initial ISO 4217 code was "ZWD". At the time of its introduction, the Zimbabwean dollar was worth more than the US dollar in the official exchange market, with 1 ZWD = 1.47 USD, although this did not reflect the actual purchasing power it held. As a result, in both the official and parallel markets, the currency's value eroded rapidly over the years, and by July 2006, the parallel market value of the Zimbabwean dollar fell to Z$1,000,000 = GB£1.
Zambia
Most will thus speak Bemba and Nyanja in the Copperbelt; Nyanja is dominantly spoken in Lusaka and Eastern Zambia. English is used in official communications and is the language of choice at home among – now common – intertribal families. This continuous evolution of languages has led to Zambian slang which can be heard in daily life throughout Lusaka and other major cities. Portuguese has been introduced into the school curriculum due to the presence of a large Portuguese-speaking Angolan community. French is commonly studied in private schools, while some secondary schools have it as an optional subject. A German course has been introduced at the University of Zambia (UNZA).
Zambia
The territory of what is now Zambia was known as Northern Rhodesia from 1911. It was renamed Zambia at independence in 1964.
The new name of Zambia was derived from the Zambezi river (Zambezi may mean "Grand River").
Euro
The euro has been used as a trading currency in Cuba since 1998, and Syria since 2006. There are also various currencies pegged to the euro (see below). In 2009, Zimbabwe abandoned its local currency and used major currencies instead, including the euro and the United States dollar.
Bemba language
Bemba is one of the most widely spoken languages in Zambia, spoken by many people who live in urban areas, and is one of Zambia's seven recognized regional languages. Zambia's first president, Kenneth Kaunda, though Malawian by descent, was raised in a Bemba-speaking community, and two of the four Zambian president since have been Bemba-speakers. The third president, Levy Mwanawasa, was a Lenje, who belong to the Bantu Botatwe [three people] ethnic grouping that comprises the Tonga-Lenje-Ila peoples. The Fourth President, Rupiah Bwezani Banda was a Chewa from the Eastern Province. In the years after the MMD took power in 1991, it was accused numerous times of promoting Bemba over other regional languages in the country. Although the lingua franca of the Zambian capital Lusaka is a dialect of Nyanja language, it incorporates numerous Bemba words and expressions.
Zambia
Zambia (), officially the Republic of Zambia, is a landlocked country in south-central Africa (although some sources consider it part of East Africa). It neighbours the Democratic Republic of the Congo to the north, Tanzania to the north-east, Malawi to the east, Mozambique to the southeast, Zimbabwe and Botswana to the south, Namibia to the southwest, and Angola to the west. The capital city is Lusaka, and it is located in the south-central part of Zambia. The population is concentrated mainly around Lusaka in the south and the Copperbelt Province to the northwest, the core economic hubs of the country.
Zambia one hundred kwacha note
The old currency unit was divided by 1000, hence, removing three zeros from the preexisting K50,000, K20,000, K10,000, K5,000, and K1,000. The lower denominations of K500, K100, and K50 were also divided by 1000 and were changed into the 1 Kwacha, 50, 10, and 5 Ngwee coins respectively.
On January 23, 2012, the Bank of Zambia proposed certain measures in regards of the redenomination of the Zambian Kwacha. Such recommendations were initially approved by the government, being one of the measures required to address costs associated with the continuous devaluation of the national currency, due to depreciation throughout time, as a direct result of several years of high inflation rates that characterized the national economy during the late decades of the 20th century, and the early years of the 21st century. On 22 August 2012 the Bank of Zambia issued a press release stating that the changeover date for the rebased currency had been set as 1 January 2013.
The recommendations were assented to the parliament on November 3, 2012. Later, The Redomination of Currency Act (Act 8 of 2012) was enacted on December 3, 2012.
History of Zimbabwe
In January 2009, Morgan Tsvangirai announced that he would do as the leaders across Africa had insisted and join a coalition government as prime minister with his nemesis, President Robert Mugabe . On 11 February 2009 Tsvangirai was sworn in as the Prime Minister of Zimbabwe. By 2009 inflation had peaked at 500 billion % per year under the Mugabe government and the Zimbabwe currency was worthless. The opposition shared power with the Mugabe regime between 2009 and 2013, Zimbabwe switched to using the US dollar as currency and the economy improved reaching a growth rate of 10% per year.
Zairean zaire
The Zaire (), symbol: "Z", or sometimes "Ƶ", was introduced in 1967, replacing the "Congolese franc" at an exchange rate of 1 zaire = 1000 francs. The zaire was subdivided into 100 "makuta" (singular: "likuta", symbol: "K"), each of 100 "sengi" (symbol: "s"). However, the sengi was worth very little and the only sengi denominated coin was the 10 sengi coin issued in 1967. Unusually for any currency, it was common practice to write cash amounts with three zeros after the decimal place, even after inflation had greatly devalued the currency. Inflation eventually caused denominations of banknotes up to 5,000,000 zaires to be issued, after which the new zaire was introduced.
South African rand
The rand (sign: R; code: ZAR) is the currency of South Africa. The Rand is subdivided into 100 cents (sign: "c"). The ISO 4217 code is ZAR, from Dutch "Zuid-Afrikaanse Rand" (South African Rand). The Rand is legal tender in the Common Monetary Area between South Africa, Swaziland (Eswatini), Lesotho, and Namibia, although the last three countries do have their own currencies pegged at par with rand.
Economy of Zambia
Lack of balance-of-payment support meant the Zambian government did not have resources for capital investment and periodically had to issue bonds or otherwise expand the money supply to try to meet its spending and debt obligations. The government continued these activities even after balance-of-payment support resumed. This has kept interest rates at levels that are too high for local business, fuelled inflation, burdened the budget with domestic debt payments, while still falling short of meeting the public payroll and other needs, such as infrastructure rehabilitation. The government was forced to draw down foreign exchange reserves sharply in 1998 to meet foreign debt obligations, putting further pressure on the kwacha and inflation. Inflation held at 32% in 2000; consequently, the kwacha lost the same value against the dollar over the same period. In mid- to late 2001, Zambia's fiscal management became more conservative. As a result, 2001 year-end inflation was below 20%, its best result in decades. In 2002 inflation rose to 26.7%. However, in 2007 inflation hit 8%, the first time in 30 years that Zambia had seen single digit inflation.
Zambian kwacha
Throughout the years, the Zambian currency suffered high rates of inflation forcing the Bank of Zambia to introduce high value denominations in 2003, including 20,000 and 50,000 kwacha bills to facilitate transactions. In 2013, a new, redenominated kwacha was introduced.
Indo-Zambia Bank Limited
Indo–Zambia Bank (IZB), whose full name is Indo–Zambia Bank Limited, is a commercial bank in Zambia. It is licensed by the Bank of Zambia, the central bank and national banking regulator.
Postage stamps and postal history of Zambia
The first stamps of independent Zambia were issued on 24 October 1964. They consisted of a set of three commemoratives. On the same day, a set of 14 definitives was issued, with depictions of various professions and scenes.
Hyperinflation in Zimbabwe
On three occasions, the Reserve Bank of Zimbabwe redenominated its currency. First, in August 2006, the Reserve Bank recalled notes in exchange for new notes with three zeros slashed from the currency. In July 2008, the governor of the Reserve Bank of Zimbabwe, Gideon Gono, announced a new Zimbabwean dollar, this time with 10 zeros removed. The Z$10 billion would be redenominated to be Z$1. This move was not just to slow inflation but also to make computations more manageable.
Shilling
The Somaliland shilling is the official currency of Somaliland, a self-declared republic that is internationally recognised as an autonomous region of Somalia. The currency is not recognised as legal tender by the international community, and it currently has no official exchange rate. It is regulated by the Bank of Somaliland, the territory's central bank. Although the authorities in Somaliland have attempted to bar usage of the Somali shilling, Somalia's official currency is still the preferred means of exchange for many peoples in the region.
List of companies of Zambia
The Republic of Zambia is a landlocked country in Southern Africa, neighbouring the Democratic Republic of the Congo to the north, Tanzania to the north-east, Malawi to the east, Mozambique, Zimbabwe, Botswana and Namibia to the south, and Angola to the west. The capital city is Lusaka, in the south-central part of Zambia. The population is concentrated mainly around Lusaka in the south and the Copperbelt Province to the northwest, the core economic hubs of the country.
Hyperinflation in Zimbabwe
In 2009, Zimbabwe stopped printing its currency, with currencies from other countries being used. In mid-2015, Zimbabwe announced plans to have completely switched to the United States dollar by the end of 2015.
First Alliance Bank Zambia Limited
First Alliance Bank Zambia Limited (FABZL), also known as First Alliance Bank (Zambia), is a commercial bank in Zambia. It is licensed by Bank of Zambia, the central bank and national banking regulator.
Tanzanian shilling
The shilingi (Swahili; English: "shilling"; sign: TSh; code: TZS) is the currency of Tanzania. It is subdivided into 100 "senti" ("cents" in English).
The Tanzanian shilling replaced the East African shilling on 14 June 1966 at par.
Bank of Zambia
The Bank of Zambia (BoZ), is the central bank of Zambia.
Outline of Zambia
Zambia
Zambia
Zambia fell into poverty after international copper prices declined in the 1970s. The socialist regime made up for falling revenue with several abortive attempts at International Monetary Fund structural adjustment programmes (SAPs). The policy of not trading through the main supply route and line of rail to the sea – the territory known as Rhodesia (from 1965 to 1979), and now known as Zimbabwe – cost the economy greatly. After the Kaunda regime, (from 1991) successive governments began limited reforms. The economy stagnated until the late 1990s. In 2007 Zambia recorded its ninth consecutive year of economic growth. Inflation was 8.9%, down from 30% in 2000.
Zambia is still dealing with economic reform issues such as the size of the public sector, and improving Zambia's social sector delivery systems. Economic regulations and red tape are extensive, and corruption is widespread. The bureaucratic procedures surrounding the process of obtaining licences encourages the widespread use of facilitation payments. Zambia's total foreign debt exceeded $6 billion when the country qualified for Highly Indebted Poor Country Initiative (HIPC) debt relief in 2000, contingent upon meeting certain performance criteria. Initially, Zambia hoped to reach the HIPC completion point, and benefit from substantial debt forgiveness, in late 2003.
In January 2003, the Zambian government informed the International Monetary Fund and World Bank that it wished to renegotiate some of the agreed performance criteria calling for privatisation of the Zambia National Commercial Bank and the national telephone and electricity utilities. Although agreements were reached on these issues, subsequent overspending on civil service wages delayed Zambia's final HIPC debt forgiveness from late 2003 to early 2005, at the earliest. In an effort to reach HIPC completion in 2004, the government drafted an austerity budget for 2004, freezing civil service salaries and increasing a number of taxes. The tax hike and public sector wage freeze prohibited salary increases and new hires. This sparked a nationwide strike in February 2004.
Malawian kwacha
The kwacha (; ISO 4217: MWK, official name Malawi Kwacha) is the currency of Malawi as of 1971, replacing the Malawian pound. It is divided into 100 tambala. The kwacha replaced other types of currency, namely the UK pound sterling, the South African rand and the Rhodesian dollar, that had previously circulated through the Malawian economy. The exchange rate of the kwacha undergoes fixed periodical adjustments, but since 1994 the exchange rate has floated. In 2005, administrative measures were put in place by Bingu wa Mutharika to peg the exchange rate with other currencies. Banknotes are issued by the Reserve Bank of Malawi. In May 2012, the Reserve Bank of Malawi devalued the kwacha by 34% and unpegged it from the United States dollar.
Zambia national football team
The Zambia national football team represents Zambia in association football and is governed by the Football Association of Zambia (FAZ). During the 1980s, they were known as the KK 11, after founding president Dr. Kenneth Kaunda ("KK") who ruled Zambia from 1964 to 1991. After the country adopted , the side was nicknamed "Chipolopolo", the "Copper Bullets".
Flag of Zambia
The flag's colours and emblems are rich in symbolism. Each of the four colours represents an aspect of Zambia: green for the country's natural resources and vegetation; red for its struggle for freedom; black for its people and orange for its mineral wealth (primarily copper). The eagle is an African fish eagle, which also appears in the national coat of arms and represents the people's ability to rise above the nation's problems.
Stand and Sing of Zambia, Proud and Free
"Nkosi Sikelel' iAfrika" started to become popular in South Africa in 1923 as a Christian hymn. Its popularity spread around Africa through churches and the tune became associated with African nationalism movements. Following the passing of the Zambia Independence Act 1964 in the Parliament of the United Kingdom enacting Zambia's independence from the United Kingdom, "Nkosi Sikelel' iAfrika" was adopted as the national anthem of Zambia, replacing "God Save the Queen", the anthem of Northern Rhodesia. Shortly afterwards, it was decided that new words set to the tune of "Nkosi Sikelel' iAfrika" would be needed for Zambia's national anthem. A national competition was held for the new words. However, none of the entries were deemed good enough to be used in full for the anthem. As a result, six of the entries were merged to create "Stand and Sing of Zambia, Proud and Free" and the entrants selected were awarded prizes. The authors credited for the composition were G. Ellis, E.S. Musonda, J.M.S. Lichilana, I. Lowe, J. Sajiwandani, and R.J. Seal.
Zambia
Zambia became a republic immediately upon attaining independence in October 1964. From 2011 to 2014, Zambia's president had been Michael Sata, until Sata died on 28 October 2014.
Zambian kwacha
The reverse features the Freedom Statue in Lusaka, the issuing authority of legal tenders in Zambia, Bank of Zambia, in the middle at the top, the face value of the banknote in words in the lower left corner, and in numerals in the other three corners. There is also a unique depiction of wildlife in Zambia, together with an activity based theme on each reverse of the six banknotes.
Zambia national cricket team
The Zambia national cricket team is the team that represents the Republic of Zambia in international cricket. It is administered by the Zambia Cricket Union, which became an associate member of the International Cricket Council (ICC) in 2003. The team made its international debut in 1930, during the country's colonial period as Northern Rhodesia. Regular matches against other East African sides began in the 1950s, and Zambia contributed players to the combined East African cricket team that was an ICC member in its own right for much of the remainder of the 20th century (later transformed into the East and Central Africa Cricket Conference). From the late 1990s onward, Zambia has been a regular participant in ICC Africa tournaments, although it has generally played in the lower divisions. The team has been promoted into the World Cricket League structure only once, placing fourth at the 2010 Division Eight tournament.
University of Zambia
The University of Zambia (UNZA) is a public university located in Lusaka, Zambia. It is Zambia's largest learning institution. UNZA was established in 1965 and officially opened to the public on 12 July 1966. It is also the oldest public university in Zambia. The language of instruction is English.
Gambian pound
The Gambia Currency Board issued The Gambia's first coinage, produced by the Royal Mint, to replace the British West African coins, on 21 November 1966. The values remained the same although the 1 tenth and 1/2 penny coins were not issued, whilst a 4 Shillings piece went into circulation. An 8 Shillings coin was subsequently struck in 1970.
Common Monetary Area
While the formal arrangements date back to 1974, they ultimately stem informal arrangements spanning back to prior to the formation of the South Africa in 1910 and when the South African Reserve Bank was formed 1921, the South African pound became the sole circulating legal tender in the territories that today form the CMA alongside Bechuanaland (now Botswana). This arrangement continued when the South African pound was replaced by the South African rand in 1961. The lack of monetary policy discretion, a formal framework for consultation and sharing of seignorage by South Africa for the smaller territories led to protracted negotiations which ultimately resulted in the formal 1974 agreement, however Botswana decided against joining the formalized arrangements and pursued an independent currency with its own central bank.
In 1989 the CMA changed its exchange restrictions because of some limitations in the conversion of balances consequence of the termination of the agreement of one party. The CMA was replaced by the present Multilateral Monetary Area (MMA) in February 1992, when Namibia formally joined the monetary union. In 1993 Namibia issued its own currency, the Namibian dollar.
Languages of Zambia
English, the former colonial language, serves as a common language among educated Zambians. At independence in 1964, English was declared the national language. English is the first language of only 2% of Zambians but is the most commonly used second language.
Languages of Zambia
According to the 2000 census, Zambia's most widely spoken languages are Bemba (spoken by 52% of the population as either a first or second language), Nyanja (37%), Tonga (15%) and Lozi (11%).
Cavmont Bank
Cavmont Bank Limited is a commercial bank in Zambia. It is licensed by the Bank of Zambia, the central bank and national banking regulator.
Standard Chartered Zambia
Standard Chartered Zambia, officially Standard Chartered Bank Zambia Plc, is a commercial bank in Zambia and a subsidiary of Standard Chartered. It is licensed by the Bank of Zambia, the central bank and national banking regulator.
Zimbabwean dollar
The use of foreign currencies was legalised in January 2009, causing general consumer prices to stabilise again after years of hyperinflation and price speculation. The move led to a sharp drop in the usage of the Zimbabwean dollar, as hyperinflation rendered even the highest denominations worthless. The Zimbabwean dollar was effectively abandoned as an official currency on 12 April 2009, when the Economic Planning Minister Elton Mangoma confirmed the suspension of the national currency for at least a year.
Economy of Zambia
The agriculture sector represented 20% GDP in 2000. Agriculture accounted for 85% of total employment (formal and informal) for 2000. Maize (corn) is the principal cash crop as well as the staple food. Other important crops include soybean, cotton, sugar, sunflower seeds, wheat, sorghum, pearl millet, cassava, tobacco and various vegetable and fruit crops. Floriculture is a growth sector, and agricultural non-traditional exports now rival the mining industry in foreign exchange receipts. Zambia has the potential for significantly increasing its agricultural output; currently, less than 20% of its arable land is cultivated. In the past, the agriculture sector suffered from low producer prices, difficulties in availability and distribution of credit and inputs, and the shortage of foreign exchange.
Emmanuel Mayuka
Zambia
Index of Zambia-related articles
Zambia, officially known as the Republic of Zambia (), is a landlocked country in Southern Africa. The neighbouring countries are the Democratic Republic of the Congo to the north, Tanzania to the north-east, Malawi to the east, Mozambique, Zimbabwe, Botswana, and Namibia to the south, and Angola to the west. The capital city is Lusaka, located in the southeast of the country. The population is concentrated mainly around the capital and the Copperbelt to the northwest.
Zimbabwean dollar
On 29 January 2014, the Zimbabwe central bank announced that the US dollar, South African rand, Botswana pula, Pound sterling, Euro, Australian dollar, Chinese yuan (renminbi), Indian rupee, and Japanese yen would all be accepted as legal currency within the country.
Zambian kwacha
The Zambian kwacha was first issued in 1968 to replace the Zambian pound. The design of the kwacha bill changed as time went on, also, different bills were either introduced in or withdrawn from circulation. Seven emissions of the first kwacha are known to exist, while only one emission of the second kwacha was introduced in circulation on January 1, 2013, and still existing since then without any changes in design or security features. Each emission share similar general features in design throughout all the banknotes, with slight changes concerning the colors and the activity based theme on the reverse of the banknotes.
Zambia
In the mid-1970s, the price of copper, Zambia's principal export, suffered a severe decline worldwide. In Zambia's situation, the cost of transporting the copper great distances to market was an additional strain. Zambia turned to foreign and international lenders for relief, but, as copper prices remained depressed, it became increasingly difficult to service its growing debt. By the mid-1990s, despite limited debt relief, Zambia's per capita foreign debt remained among the highest in the world.
Ndola
One mark of Ndola's commercial significance to Zambia is shown by the presence of the only major centre of operation for the country's central bank, the Bank of Zambia, outside of the capital, Lusaka. Every major bank in Zambia has at least one branch in Ndola. The largest insurance group in Zambia, ZSIC (pronounced 'zeesk'), own many commercial and residential properties in the city.
Zimbabwean dollar
The following year, on 2 February 2007, the RBZ revealed that a new (third) dollar would be released. However, with inflation still exceeding 1000%, the banknotes were kept in storage. During the same month, the Reserve Bank of Zimbabwe declared inflation illegal, outlawing any raise in prices on certain commodities between 1 March and 30 June 2007. Officials arrested executives of some Zimbabwean companies for increasing prices on their products, and economists reported that "chaos had started to reign and people in the public sector has becoming frantic". On 6 September 2007, the Zimbabwe dollar was devalued again by 92%, creating an official exchange rate of ZW$30,000 to US$1, although the black market exchange rate was estimated to be ZW$600,000 to US$1.
Christianity in Zambia
In 1972 the political freedoms declined markedly and this was rapidly followed by economic volatility as well. In response to, Simon Kapwepwe, the former Vice-President's attempt to form an alternative political party to UNIP Kaunda's government declared Zambia a one party state. The following year Zimbabwe closed its borders to "all Zambian exports, except copper, which adversely affected the economy". Exports were diverted through Tanzania and Angola, but in 1974 the outbreak of civil war in Angola was to have a further impact on the Zambian economy. At this time the price of copper, accounting for 95% of Zambia's export earnings, began to fall dramatically. By 1976 Kaunda was forced to declare a state of emergency and the dramatic dip in revenue caused the UNIP government to borrow heavily, significantly increasing Zambia's external debt. The worsening economic situation and increasing debt led the IMF to intervene in the 1980s to shore up the economy and impose Structural Adjustment Programmes (SAPs) on Zambia. Kaunda only survived politically with the return and reconciliation with Kapwepwe in 1978.
Economy of Zimbabwe
The official Zimbabwean dollar exchange rate had been frozen at Z$101,196 per U.S. dollar since early 2006, but as of 27 July 2006 the parallel (black market) rate has reached Z$550,000 per U.S. dollar. By comparison, 10 years earlier, the rate of exchange was only Z$9.13 per USD.
Zambian pound
In 1964, cupro-nickel 6 pence, 1 and 2 shilling coins were introduced, followed by a 5 Shillings in 1965, and holed, bronze 1 penny coins in 1966.
Banknotes of Zimbabwe
The second dollar (ZWN) was replaced on 1 August 2008 by the third dollar (ZWR), which was then phased out by the fourth dollar (ZWL) with short notice on 2 February 2009 because it rapidly lost value. The economic and trade sanctions imposed against the Zimbabwean government and the Reserve Bank made it difficult to incorporate modern security features on most banknotes issued since September 2008.
Zambia
As per 2010 Zambian census, Zambia's population was 13,092,666. Zambia is significantly ethnically diverse, with a total of 73 ethnic tribes. During the country's occupation by the British, between 1911 and 1963, the country attracted immigrants from Europe and the Indian subcontinent, the latter of whom came specifically as labourers. While most Europeans left after the collapse of white minority rule, a fair number of Asians still remain.
In the first recorded census—conducted on 7 May 1911—there were a total of 1,497 Europeans; 39 Asiatics and estimated 820,000 Africans. Black Africans were not counted in all six census exercises—conducted in 1911, 1921, 1931, 1946, 1951, and 1956—prior to independence. By 1956, when the last census prior to independence was conducted, there were 65,277 Europeans; 5,450 Asiatics; 5,450 Coloureds and an estimated 2,100,000 Africans.
Politics of Zambia
Edgar Chagwa Lungu was sworn in as president of Zambia on January 25, 2015, succeeding acting-president Guy Scott who briefly held the office after the passing of Michael Chiluyfa Sata. Lungu's presidency has thus far been criticised for failing to halt the depreciating Kwacha. There have also been unsubstantiated reports of Lungu's alleged alcoholism, stemming from a reported physical collapse early in his presidency.. The economic challenges facing Zambia, in particular the depreciating Kwacha, have been attributed to the global fall of commodity prices. Zambia derives over 90% of its export earnings from a single commodity, copper, which has lost about 45% of its value on the international commodity market.
Zimbabwean dollar
The second dollar started off on August 1, 2006 with an official rate of 250 and a parallel rate of 550 to the US$. In July 2008 the dollar was revalued again, this time 10,000,000,000 2nd dollars became 1 3rd dollar, after the parallel rate reached 500 billion to 1 US$.
Zimbabweans in Zambia
Among Zimbabweans who have moved to Zambia are a small number of white Zimbabwean farmers, whose numbers had reached roughly 150 to 300 people . They farm a variety of crops including tobacco, wheat, and chili peppers on an estimated 150 farms. The capital they brought, combined with general economic liberalisation under the late Zambian president Levy Mwanawasa, has been credited with stimulating an agricultural boom in Zambia. In 2004, for the first time in 26 years, Zambia exported more corn than it imported. Zambia was considered the "easy option" for Zimbabwean farmers as compared to other potential destinations such as Malawi or Nigeria due to the close resemblance between the soil and climate of Zambia and that of Zimbabwe, as well as Zambia's relative stability; however, farmers who relocated to Zambia typically took on heavy debts denominated in Zambian kwacha while selling their produce abroad for U.S. dollars, which put them into difficulties when the kwacha appreciated almost one-third against the dollar in 2006.
Zambia national football team
After the departure of George Lwandamina in 2016, Wedson Nyirenda was appointed interim coach. In January 2017 Nyirenda was appointed on a permanent basis. On 6 July 2018, FAZ announced the appointment of Sven Vandenbroeck as their new coach. The 38-year-old Belgian replaced Nyirenda who resigned two months earlier to join South African side Baroka FC.
Zambia
On 24 October 1964, Zambia became independent of the United Kingdom and prime minister Kenneth Kaunda became the inaugural president. Kaunda's socialist United National Independence Party (UNIP) maintained power from 1964 until 1991. Kaunda played a key role in regional diplomacy, cooperating closely with the United States in search of solutions to conflicts in Rhodesia (Zimbabwe), Angola, and Namibia. From 1972 to 1991 Zambia was a one-party state with the UNIP as the sole legal political party under the motto "One Zambia, One Nation". Kaunda was succeeded by Frederick Chiluba of the social-democratic Movement for Multi-Party Democracy in 1991, beginning a period of social-economic growth and government decentralisation. Levy Mwanawasa, Chiluba's chosen successor, presided over Zambia from January 2002 until his death in August 2008, and is credited with campaigns to reduce corruption and increase the standard of living. After Mwanawasa's death, Rupiah Banda presided as Acting President before being elected President in 2008. Holding office for only three years, Banda stepped down after his defeat in the 2011 elections by Patriotic Front party leader Michael Sata. Sata died on 28 October 2014, making him the second Zambian president to die in office. Guy Scott served briefly as interim president until new elections were held on 20 January 2015, in which Edgar Lungu was elected as the sixth President.
Economy of Zimbabwe
In response to the negative long term economic situation the three parliamentary parties agreed on a Government of National Unity. Despite serious internal differences this government made some important decisions that improved the general economic situation, first of all the suspension of the national currency, the Zimbabwean Dollar, in April 2009. That stopped hyperinflation and made normal forms of business possible again, by using foreign currency such as the US American Dollar, the South African Rand, the EUs Euro or the Botswana Pula. The former finance minister Tendai Biti (MDC-T) tried to hold a disciplined budget. In 2009 Zimbabwe recorded a period of economic growth for the first time in a decade.
Economic Community of West African States
ECOWAS and UEMOA have developed a common plan of action on trade liberalisation and macroeconomic policy convergence. The organizations have also agreed on common rules of origin to enhance trade, and ECOWAS has agreed to adopt UEMOA's customs declaration forms and compensation mechanisms.Formed in 2000, the West African Monetary Zone (WAMZ) is a group of six countries within ECOWAS that plan to introduce a common currency called the Eco. The six member states of WAMZ are Gambia, Ghana, Guinea, Nigeria and Sierra Leone who founded the organization together in 2000 and Liberia who joined on 16 February 2010. Apart from Guinea, which is Francophone, they are all English-speaking countries. Along with Mauritania, Guinea opted out of the CFA franc currency shared by all other former French colonies in West and Central Africa.
Zimbabwe
On 29 January 2009, in an effort to counteract runaway inflation, acting Finance Minister Patrick Chinamasa announced that Zimbabweans will be permitted to use other, more stable currencies to do business, alongside the Zimbabwe dollar. In an effort to combat inflation and foster economic growth the Zimbabwean Dollar was suspended indefinitely on 12 April 2009. In 2016 Zimbabwe allowed trade in the United States dollar and various other currencies such as the rand (South Africa), the pula (Botswana), the euro, and the Pound Sterling (UK).
2010 Zambian census
Christianity is the official religion in Zambia according to the Constitution of Zambia. Christians belonging to various denominations formed a majority, while many other religious traditions were also present in the country. In 2010, according to World Christian Trends, 85.5 per cent of the population were identified as Christian, 11.2 per cent with indigenous religions, 1.8 per cent as Bahá'í, 1.1 per cent as Muslim, 0.2 per cent as agnostic, 0.1 per cent as Hindu, and all other groups accounted for less than 0.1 per cent. The 2010 Zambian census found that 75.3 per cent of Zambians were Protestant, 20.2 per cent were Catholic, 0.5 per cent were Muslim, 2.0 per cent followed other religions, and 1.8 per cent had no religion.
Economy of Namibia
The Namibian economy is closely linked to South Africa with the Namibian dollar pegged to the South African rand. Privatisation of several enterprises in coming years may stimulate long-run foreign investment, although with the trade union movement opposed, so far most politicians have been reluctant to advance the issue. In September 1993, Namibia introduced its own currency, the Namibia Dollar (N$), which is linked to the South African Rand at a fixed exchange rate of 1:1. There has been widespread acceptance of the Namibia Dollar throughout the country and, while Namibia remains a part of the Common Monetary Area, it now enjoys slightly more flexibility in monetary policy although interest rates have so far always moved very closely in line with the South African rates.
Foreign relations of Zambia
After independence in 1964, Zambia was one of the most vocal opponents to white minority rule and colonialism. President Kenneth Kaunda, who held office 1964–1991, was a very visible advocate of change in Southern Africa. He actively supported UNITA during the Angolan liberation and civil war, SWAPO during their fight for Namibian independence from apartheid South Africa, Southern Rhodesia (now Zimbabwe), and the African National Congress in their fight against apartheid in South Africa.
Economy of Zimbabwe
In November 2006, it was announced that sometime around 1 December there would be a further devaluation and that the official exchange rate would change to revalued ZWD 750 per USD. This never materialized. However, the parallel market immediately reacted to this news with the parallel rate falling to ZWD 2,000 per USD (18 November 2006) and by year end it had fallen to ZWD 3,000 per USD.
Economy of Eswatini
Swaziland, Lesotho, Botswana, Namibia, and the Republic of South Africa form the Southern African Customs Union (SACU), where import duties apply uniformly to member countries. Swaziland, Lesotho, Namibia, and South Africa also are members of the Common Monetary Area (CMA) in which repatriation and unrestricted funds are permitted. Swaziland issues its own currency, the lilangeni (plural: emalangeni), which is at par with the South African rand.
Economy of the Gambia
Currency: Dalasi (D)
Access Bank Zambia
The bank is a small retail bank, serving the needs of Zambian companies, small and medium sized enterprises and individuals. Access Bank Zambia had assets valued at ZMW:539 million (approximately US$55.38 million). The bank, which was established on the 24th of September 2008, is a subsidiary of Access Bank Group, an international bank that maintains headquarters in Nigeria and has subsidiaries in over ten countries in Africa and Europe.
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.
Zambia
Northern Rhodesia became the Republic of Zambia on 24 October 1964, with Kenneth Kaunda as the first president. At independence, despite its considerable mineral wealth, Zambia faced major challenges. Domestically, there were few trained and educated Zambians capable of running the government, and the economy was largely dependent on foreign expertise. This expertise was provided in part by John Willson CMG There were over 70,000 Europeans resident in Zambia in 1964, and they remained of disproportionate economic significance.