Regulatory Alerts2025-12-26
Bank of Zambia Currency Directives 2025
The Bank of Zambia mandates that all domestic transactions be settled in Zambian Kwacha, requiring foreign-denominated contracts to convert at the market or official mid exchange rate. The directives apply to individuals and government entities while explicitly exempting mining tax remittances, tolls, financial and insurance products, tourism services, electricity trading, agricultural trade credit, and cross-border exports. Non-compliance triggers administrative penalties of up to one million penalty units alongside potential criminal fines or imprisonment, with the Bank empowered to conduct inspections and enforce compliance.
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