[LOGO: BANK OF ZAMBIA]

PUBLIC NOTICE

THE BANK OF ZAMBIA CURRENCY DIRECTIVES, 2025

The Bank of Zambia has issued the Currency Directives, 2025 that take effect on December 26, 2025. This has been done in exercise of the powers contained in Sections 18 and 73 of the Bank of Zambia Act, 2022.

Members of the Public may wish to note that in February 2024, the Bank of Zambia (the Bank) announced that it was considering taking measures to operationalise the use of the Kwacha and Ngwee for domestic transactions. Since then, the Bank, with the collaboration of the Public Private Dialogue Forum (PPDF) and other organisations, held extensive consultative meetings with different stakeholder groups from various sectors, including mining, manufacturing, tourism, agriculture, financial, and Government. The meetings were held in different parts of the country. This process enabled relevant stakeholders to not only be aware of the Directives before they came into effect, but to also deliberate and contribute to shaping the final provisions of the Directives which have now been issued.

The Directives, apart from re-enforcing the legal requirement that domestic transactions must be settled in Zambian Kwacha, in line with Section 18 of the Bank of Zambia Act, should make it easier for corporates, business entities, and individuals to comply with the law.

For purposes of the Directives, domestic transactions refer to private or public transactions that involve the payment of money to a person who resides in Zambia for a transaction that occurred in Zambia. These Directives also provide exemptions for certain carefully considered domestic transactions. Further, and for the avoidance of doubt, these Directives do not apply to international transactions.

The Directives and Explanatory Notes are available on the Bank’s website at www.boz.zm and other Bank of Zambia social media platforms. Any queries may be sent to Assistant Director – Communications, on info@boz.zm

Issued by

Signature Besnat Mwanza (Ms.) ASSISTANT DIRECTOR – COMMUNICATIONS

December 26, 2025

[STAMP: BANK OF ZAMBIA, 26 DEC 2025, P.O. BOX 30080, LUSAKA, ASSISTANT DIRECTOR - COMMUNICATIONS]

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