The Zambian Kwacha is the official currency in Zambia since 1966, and its name derived from the word for “dawn” (Nyanja, Bemba, and Tonga language), referring to the Zambian nationalist slogan; “new dawn of freedom”. After the country became independent of the United Kingdom in 1964, the Bank of Zambia issued the first Zambia currency called “Zambia pound”, which replaced the Rhodesia and Nyasaland pound. In 1966, the parliament announced the main currency changed to Kwacha and all the currencies circulating before 1968 were withdrawn. New notes were issued in denominations of 50 ngwee, and 1,2, 10 and 20 kwacha. Over the years, the Zambian currency has been exposed to high rates of inflation, which forced the Zambian bank to introduce high denominations in banknotes to facilitate transactions, banknotes in denominations of 20,000 and 50,000 kwacha were introduced. However, in 2012 the Bank of Zambia proposed a new redenomination, and the currency was divided by 1000, eliminating three zeros from the preexisting denominations (K50,000, K20,000, K10,000, K5,000, and K1,000).
The 50 Zambian kwacha commemorative note front design features an African fish eagle on a tree branch, the National Coat of Arms, a sycamore-fig tree, the Bank of Zambia symbol with a peace dove and the denomination. The reverse note side presents the five Presidents of Zambia from independence in 1964 until 2014: Kenneth David Kaunda, Levy Mwanawasa (1948 – 2008), Michael Charles Chilufya Sata (1937 – 2014), Rupiah Bwezani Banda and Frederick Jacob Titus Chiluba (1943 – 2011). The Bank of Zambia Headquarter in Lusaka and the Freedom Statue in Lusaka represent the Independence of Zambia from the United Kingdom, the Bank of Zambia symbol with a peace dove and the denomination. This note is part of the 2014 commemorative series “50th Independence Anniversary”, and its color is blue and multicolor.
Text: Bank of Zambia, One Zambia, One nation, I Promise to Pay the Bearer on Demand Fifty Kwacha for the Bank of Zambia, Governor, Giesecke & Devrient, Zambia 2014, AM, BOZ, Fifty Kwacha, 50th Independence Anniversary, Kenneth David Kaunda, Levy P. Mwanawasa, Michael Chilufya Sata, Rupiah Bwezani Banda, Frederick J. T. Chiluba, K50.