Regulatory Alerts2025-12-26
Explanatory Notes on the Bank of Zambia Currency Directives 2025
The Bank of Zambia issued the 2025 Currency Directives to mandate Kwacha as the sole settlement currency for all domestic transactions, including those involving government entities. Foreign currency payments remain permissible under a comprehensive exemption schedule that specifically covers mining operations, tolls, financial and insurance products, tourism services, electricity trading, diplomatic enclaves, cross-border trade, and agricultural inputs. Non-compliance carries criminal liability with fines up to two thousand five hundred penalty units or imprisonment, alongside administrative penalties of up to one million penalty units for both corporate bodies and managing individuals.
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