The Bank of Zambia (BoZ) has dismissed claims that the security features of its new currency are insufficient and require enhancement. In a statement on Monday, BoZ Assistant Director of Communications, Besnat Mwanza, emphasized that the Central Bank had integrated advanced innovations into the design of the new banknotes.
Mwanza stated, “The Bank of Zambia would like to dispel assertions suggesting that the security features of the new currency are inadequate, and therefore, need to be changed. A core function of any currency is to maintain its integrity and resist counterfeiting.”
She noted that over the past decade, significant technological advancements have strengthened banknote security. The new Zambian banknotes incorporate these developments, ensuring they meet international standards for authenticity and durability.
The Central Bank reiterated its commitment to maintaining public confidence in the national currency. It stressed that the new security measures were designed to safeguard both businesses and individuals, making it difficult for counterfeiters to compromise the currency.
BoZ’s announcement aims to reassure the public and financial institutions that the currency in circulation is secure and reliable. The bank encouraged users to familiarize themselves with the updated features to confidently identify genuine banknotes.
The move reflects Zambia’s ongoing efforts to modernize its financial system while protecting the economy against fraud and counterfeiting.