LogoRegulatory Alerts
2025-12-26

Currency Directives Decision Tree

The Bank of Zambia establishes a currency directive decision tree mandating the use of either US dollars or Zambian kwacha for transactions across mining, agriculture, tourism, and auction sectors. Enterprises must determine their applicable currency based on buyer residency, export status, equipment specialization, and tax remittance practices to the Zambia Revenue Authority. Non-resident buyers, exporters, and highly specialized equipment purchases typically permit US dollar transactions, whereas domestic sales and standard components default to kwacha.

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Page | 1 Currency Directives Decision Tree for Specialised Mining Equipment A. Mining Specialised equipment:

  1. Dump Trucks
  2. Bulldozers
  3. Draglines
  4. Jaw Crushers
  5. Mining Drill Rigs
  6. Wheel Loaders
  7. Mining Excavators
  8. Motor Graders
  9. Wheel Tractor Scrapers
  10. Explosives B. Spare Parts/Components for mining Specialised equipment:
  11. Mining tyres for heavy-duty equipment
  12. Spare parts for heavy-duty equipment Currency acceptable for use Is equipment or components/spare parts used in mining operations, such as extraction, transportation, processing, and safety management? Type of equipment, components and spare parts? Do you remit taxes to the Zambia Revenue Authority through the sales of foreign currency to the Bank of Zambia? Do you require highly specialised mining equipment or components/spare parts? . Enterprise trading in mining equipement Yes Yes Equipment Yes US$ No ZMW Commponents/ Spare Parts Yes US$ No ZMW Both Yes US$ No ZMW No No

Page | 2 Currency Directives Decision Tree for Mining Sector (Precious stones and metals) A. Mining auctions precious stones and metals:

  1. Gemstones
  2. Gold
  3. Emeralds Currency acceptable for use Are you buying for export or domestic? Is the buyer non-resident? Are you an auctionnaire on a regulated exchange? . Enterprise trading as a mining auctionnaire Yes Non-resident Export US$ Domestic ZMW Resident Export US$ Domestic ZMW No

Page | 3 Currency Directives Decision Tree for Agriculture Sector (Aggregators and Auctioneers) A. Commodities for agriculture sector:

  1. Coffee
  2. Beef
  3. Avocados
  4. Tobacco Currency acceptable for use Receiving payment from buyer or making payment to supplier? Are you consolidating or aggregating commodities in Agriculture sector for export? Is the enterprise registered or licensed? . Registered or regulated aggregator Yes US$ No ZMW No No

Page | 4 Currency Directives Decision Tree for Tourism A. Enterprises in hospitality sector:

  1. Hotel
  2. Lodge
  3. Tour operators Currency acceptable for use Is the tour package being consumed by a domestic or foreign tourist? Is payment through tour operaor? Is the customer non-resident? . Enterprise trading in hospitality sector Yes Yes Foreigner US$ Domestic ZMW No Foreigner US$ Domestic ZMW No
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