Author Topic: Malawi: New banknote series for 2012  (Read 2755 times)

0 Members and 1 Guest are viewing this topic.

Offline Bimat

  • आदित्य
  • Global Moderator
  • Honorary Member
  • ****
  • Posts: 6 424
  • Mumbai, India.
Malawi: New banknote series for 2012
« on: June 20, 2011, 04:24:39 PM »
Malawi to introduce K1, 000 bank notes
By NYASA TIMES
Published: June 13, 2011

The Reserve Bank of Malawi  (RBM) will soon put into circulation 1,000 Kwacha (about $6) bank notes, Nyasa Times understands.

The introduction of the new banknote, which will be the largest one in value, signifies another devaluation of the local currency, central bank sources said.

Nyasa Times has learnt that government has awarded British banknote printer De La Rue to print the new K1, 000 bank notes.

However, there was no bidding for contract and that De La Rue, which produces over 150 currencies around the world, has been given the contract to print the new notes.

De La Rues has also contracts to print Malawi passports and yet-to-be introduced National Identity Cards.

Malawi bank notes have of late been subject to counterfeit and RBM in collaboration with police busted a syndicate run by youngsters  in Lilongwe who were allegedly producing counterfeit K500 (about $3) banknotes.

Police recovered K4 000 (about $26) in counterfeit notes.

And Mzuzu Senior Resident Magistrate’s Court sentenced a 39-year-old Dominic Mwanamanga of Chibwana Village, T/A Chimaliro, Thyolo to three years imprisonment with hard labour for being found in possession of fake Malawi currency.

RBM spokesperson Ralph Tseka said the bank has been carrying out underground investigations of cases of counterfeiting banknotes, warning that production of fake money is a serious offence.

The central bank earlier this month also released millions of K50 post-dated bank notes into circulation.

Malawi government – which has for the first time since 47 years of independence from Britain – presented a ‘zero deficit’ financial plan, is reported to be broke following donor freeze.—(Reporting by Charles Kufa, Nyasa Times)

Source: Nyasa Times
Caution. The low-hanging fruits are still there maybe for a reason.

Offline malawi

  • Member
  • **
  • Posts: 82
Re: Malawi: New banknote series for 2012
« Reply #1 on: October 15, 2011, 12:33:11 PM »
good news !!!

i love Malawi  coins and paper money    :D

Offline Bimat

  • आदित्य
  • Global Moderator
  • Honorary Member
  • ****
  • Posts: 6 424
  • Mumbai, India.
Re: Malawi: New banknote series for 2012
« Reply #2 on: October 15, 2011, 03:50:33 PM »
good news !!!

i love Malawi  coins and paper money    :D
:D :D

Could you please explain why do you like Malawian coins and banknotes? Any specific reason? Malawian coins are really not very interesting (in terms of design) in my opinion... ;)

Aditya
Caution. The low-hanging fruits are still there maybe for a reason.

Offline malawi

  • Member
  • **
  • Posts: 82
Re: Malawi: New banknote series for 2012
« Reply #3 on: October 15, 2011, 04:37:45 PM »
coins : i like coat of arm of Malawi , i like designs of animals , and variety of materials ( nickel , copper ,brass ) the coins set have 2 very nice bimetallic !!

paper money : are very colorful !

So , in general i like african coins !

 ;)

Offline Bimat

  • आदित्य
  • Global Moderator
  • Honorary Member
  • ****
  • Posts: 6 424
  • Mumbai, India.
Re: Malawi: New banknote series for 2012
« Reply #4 on: March 20, 2012, 04:25:57 AM »
Parties against Bingu's portrait on K1,000 note


19 March 2012 Times

Days after rumours that the K1,000 banknote which the Reserve Bank of Malawi announced it will introduce in July will bear the face of President Bingu wa Mutharika, opposition parties have warned against the move.

The parties said this as one of their resolutions during the just ended two-day Public Affairs Committee (Pac) all inclusive meeting which was aimed at charting the way to solve the numerous crises that have rocked the country.

The political parties, which were part of the delegates invited to the conference, asked the government to desist from putting a face of any living politician or person on the currency, but they did not give the reason for their resolution.

"Political parties condemn any attempt to introduce any face of any living politician or person on any currency including the Presidents," reads a section of the parties' resolutions.

The recommendation was adopted as one of the points in the draft Pac resolution which has called on Mutharika to resign or call for a referendum.

According to the central bank, the changes on new banknotes will include the phasing out of the old K20, K50, K100, K200 and K500 notes.

RBM Governor Perks Ligoya said the move was aimed to reduce the cost of printing money as the sizes of the currencies have been significantly reduced.

There have been impressions of the newly introduced banknotes bearing the face of Mutharika on social networks and forums, which have sparked a heated debate.

"It is either they leave [John] Chilembwe's face on the new note other than put any president. Presidents must not be busy trying to personalise national property instead of concentrating on development duties," reads a wall on one social network.

Currently, banknotes circulating in the country bear the face of martyr John Chilembwe.

Source: Malawi Today
Caution. The low-hanging fruits are still there maybe for a reason.

Offline Bimat

  • आदित्य
  • Global Moderator
  • Honorary Member
  • ****
  • Posts: 6 424
  • Mumbai, India.
Re: Malawi: New banknote series for 2012
« Reply #5 on: May 22, 2012, 05:09:33 PM »
Kamuzu Banda is the winner on the new Malawi banknotes

22 May 2012 By Kondwani Zulu

Former Malawi dictator Kamuzu Hastings Banda is the winner in the competition to appear on the new banknotes after being chosen to appear on the highest dominated note the K1,000.

It was alleged that the late Mutharika had wanted to appear on the note himself to complete his changes to the new Malawi after changing the flag in 2010, but his untimely death definitely put any such plans on hold indefinitely.

The new notes will be released tomorrow on 23rd May and include changes to six currency denominations.

Malawi's first freedom fighter Reverend John Chilembwe will appear on the K500 banknote while the first chairperson of the Nyasaland African Congress Women’s League, Rose Chibambo, will grace the new K200 note.

Chibambo was also the first female member of Malawi’s cabinet after independence in 1964.

The founder of the Nyasaland African Congress, James Sangala will appear on the K100 note with Inkosi Gomani II and Inkosi M’mbelwa II appearing on the K50 and K20 banknotes respectively.

But considering the prices of goods and the buying trends at the moment it would suit Malawians better if there were notes of higher denominations such as K5,000, K10,000, K50,000 and K100,000.

Paying for fuel at the pump requires at least K25,000 for most cars and upwards of K35,000 on the black market. A trolley load at PTC and Shoprite lets you part with at least K20,000.

The new K1,000 banknote will slightly ease the problems of carrying lots cash, but the recent massive currency devaluation will make it more imperative to introduce higher denominated.

According to the Reserve bank of Malawi, the new note series will run concurrently with the old series for one year from tomorrow 23 May to 22 May, 2013.

Source: Malawi Today
Caution. The low-hanging fruits are still there maybe for a reason.

Offline <k>

  • Moderator
  • Honorary Member
  • ***
  • Posts: 10 206
Re: Malawi: New banknote series for 2012
« Reply #6 on: May 26, 2012, 12:28:47 PM »
My thanks to Paul Baker (member name africancoins) for this news.



Source: http://www.rbm.mw/documents/Press%20Release-New%20Notes.pdf

RESERVE BANK OF MALAWI

PRESS RELEASE

INTRODUCTION OF THE NEW MALAWI KWACHA CURRENCY SERIES

The Reserve Bank of Malawi will on 23rd May, 2012 release a new family of banknotes and coins which will comprise six banknote denominations of K1000, K500, K200, K100, K50 & K20 and three coins of K10, K5 & K1.

BANKNOTES

Themes/Features

The themes on the new family of banknotes largely focus on the long-term objectives outlined in the Malawi Growth and Development Strategy (MGDS) namely, Sustainable Economic Growth, Social Development, Infrastructure Development and Good Governance. The K1000 note will feature the Mzuzu maize silos, K500 note the Mulunguzi Dam, while the K200, K100 and K50 notes will feature the new Parliament Building, the College of Medicine in Blantyre, the Kasungu National Park and the Domasi Teachers College respectively.

Portraits/ Features

Following wide consultations, six prominent Malawians of historic significance were identified and their portraits will appear on the new Malawi Kwacha Banknotes as follows:

K1000 - Dr Hastings Kamuzu Banda, 1898-1997 – Father and Founder of the Malawi nation and first President of independent Malawi.

K500 - Reverend Mr. John Chilembwe, 1871-1915 –Widely recognised as the first freedom fighter in Malawi.

K200 - Mrs Rose Lomathinda Chibambo, 1928 to date – The first Chairperson of the Nyasaland African Congress Women’s League and the first only female member of independent Malawi’s first cabinet in 1964.

K100 - Mr. James Frederick Sangala, 1900-1974 – the founder of the Nyasaland African Congress who campaigned relentlessly for national unity in Malawi in the 1940s.

K50 - Inkosi Ya Makhosi Gomani II. Philip Zitonga Maseko, 1921-1954 – He was the most development conscious paramount chief the Southern or Maseko Ngoni had during the colonial period. He mobilised his people to oppose the Federation of Nyasaland and Rhodesia, was deposed and exiled for that reason, and died in exile as a martyr while defending the dignity and freedom of his people.

K20 - Inkosi ya Makhosi M’mbelwa II (Lazalo Mkhuzo Jere), 1915-1959 – He was the most powerful and fearless leader the Northern or Jere Ngoni have had since settling in northern Malawi. He too led his people to oppose the imposition of the Federation in the early 1950s. In the late 1950s, he mobilised the people of Mzimba District to rally behind the Nyasaland African Congress, its leader Dr H. Kamuzu Banda, and the movement for national independence.

Sizes

The sizes of the notes have been trimmed by more than 30 percent on average. The diameters of the coins have been made smaller and the weights have been reduced by over 60 percent on average for easy portability.

TRANSITIONAL PERIOD AND EXCHANGE ARRANGEMENTS FOR THE NEW CURRENCY

The new banknote series will run side by side with the old series for a period of one year from 23rd May, 2012 to 22 May, 2013 after which the old series shall be withdrawn from circulation and cease to be legal tender. During this period exchange of old and new notes will be done at all commercial banks throughout the country. After 22 May, 2013 an additional three months exchange period will be provided during which the old notes will be exchanged with new notes at the Reserve Bank of Malawi only, with justification why the notes were not exchanged during the prescribed one year period.

The above notwithstanding, the old K1, K5 and K10 coins will circulate simultaneously with the new coins until such time as the Reserve Bank of Malawi announces their withdrawal from circulation.

PUBLIC AWARENESS PROGRAM

The Bank will soon embark on a public awareness campaign that will cover every corner of the country aimed at sensitising the general public on the general features of the new currency series and more importantly security features to protect them from being cheated by counterfeiters.

CHARLES S.R. CHUKA

GOVERNOR

17 May 2012
Turning data into information and information into knowledge.

Offline <k>

  • Moderator
  • Honorary Member
  • ***
  • Posts: 10 206
Re: Malawi: New banknote series for 2012
« Reply #7 on: May 26, 2012, 12:30:07 PM »
For more details about the new coins, click on the link below:

New Malawi currency issued May 2012
Turning data into information and information into knowledge.

Offline Bimat

  • आदित्य
  • Global Moderator
  • Honorary Member
  • ****
  • Posts: 6 424
  • Mumbai, India.
Malawi: New banknote series for 2012
« Reply #8 on: May 27, 2012, 04:01:38 PM »
Reserve Bank goofs on new K20 banknote

27 May 2012 NATION

It seems the Reserve Bank of Malawi was in a hurry to release the new banknotes so much so that it overlooked a mistake that made its way onto the new K20 note which has now hit all the corners of Malawi.

Flipping the note reveals a magnificent building which has been named Domasi Teachers Training College. However, people who know the place say the picture does not resemble any building in Domasi.

"Unless they have renovated it, that is not Domasi, that’s Machinga Teachers Training College. I work at Machinga TTC myself," said our source who pleaded for anonymity fearing for his job.

As if that is not enough, Domasi ceased being referred to as a teachers training college. It is now called Domasi College of Education.

Reserve Bank spokesperson Ralph Tseka played down the issue, saying the error would not affect the legal tender as the rest of the security features are intact.

"We are going to verify and if we find the error we will make a correction in the next issue," said Tseka.

Source: Malawi Today
Caution. The low-hanging fruits are still there maybe for a reason.

Offline Figleaf

  • Administrator
  • Honorary Member
  • ****
  • Posts: 16 819
Re: Malawi: New banknote series for 2012
« Reply #9 on: May 27, 2012, 06:12:08 PM »
our source who pleaded for anonymity fearing for his job.

Hastings Banda left a sad inheritance...

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Bimat

  • आदित्य
  • Global Moderator
  • Honorary Member
  • ****
  • Posts: 6 424
  • Mumbai, India.
Malawi: New banknote series for 2012
« Reply #10 on: July 10, 2012, 12:53:01 PM »
According to this article, Central Bank of Malawi will introduce new banknotes again as the recently issued banknotes were not blind friendly. More details are awaited.

Aditya
Caution. The low-hanging fruits are still there maybe for a reason.

Offline Herman

  • New Member
  • *
  • Posts: 9
Re: Malawi: New banknote series for 2012
« Reply #11 on: July 22, 2012, 10:53:51 PM »
Iam allso interested in Malawi banknotes, but the new ones are less beautifull in my opinion. :)

Herman

Offline Bimat

  • आदित्य
  • Global Moderator
  • Honorary Member
  • ****
  • Posts: 6 424
  • Mumbai, India.
Malawi: New banknote series for 2012
« Reply #12 on: July 23, 2012, 04:07:12 PM »
Iam allso interested in Malawi banknotes, but the new ones are less beautifull in my opinion. :)

Yes, those new banknotes are quite boring. They have started appearing on e-bay and all other similar sites and the design doesn't look very appealing IMO.

Aditya
Caution. The low-hanging fruits are still there maybe for a reason.

Offline Herman

  • New Member
  • *
  • Posts: 9
Re: Malawi: New banknote series for 2012
« Reply #13 on: July 24, 2012, 11:08:50 AM »
Here a nice Malawi banknote
Picture is deleted by photobucket! :(

Herman
« Last Edit: November 09, 2012, 07:57:37 AM by Herman »

Offline Bimat

  • आदित्य
  • Global Moderator
  • Honorary Member
  • ****
  • Posts: 6 424
  • Mumbai, India.
Malawi: New banknote series for 2012
« Reply #14 on: March 14, 2013, 10:45:55 AM »
Reserve Bank of Malawi : Demonetisation of The Old Series of The Malawi Kwacha Bank Notes


03/14/2013| 04:01am US/Eastern

THE RESERVE BANK OF MALAWI

GENERAL NOTICE DEMONETISATION OF THE OLD SERIES OF THE MALAWI KWACHA BANKNOTES

In accordance with Section 20 of the Reserve Bank of Malawi Act, the Reserve Bank of Malawi, hereby gives notice that it shall withdraw from circulation all bank notes that were in circulation before 23rd May, 2012 prior to the introduction of the new Malawi Kwacha currency series. The old bank note series shall cease to b e legal tender on 22nd May 2013, one year after the launch of the new currency.

The above not withstanding, the old K1, K5 and K10 coins will circulate simultaneously with the new coins until such time as the Reserve Bank of Malawi announces their withdrawal from circulation.

All persons in possession of old bank note series are advised to have them exchanged with the new bank note series that were introduced on 23rd May 2012 at commercial banks for their face value.

Commercial banks are therefore urged to:

• accept all old bank note series brought for exchange by the general public,
• stop issuing the old bank note series,
• be vigilant against any potential currency counterfeiters and money launderers.

A three months exchange period, 23rd May 2013 to 23rd August 2013, will be provided during which the old bank note series will be exchanged with new series at the Reserve Bank of Malawi ONLY, with justification why the bank notes were not exchanged during the prescribed one year period.

Source

Caution. The low-hanging fruits are still there maybe for a reason.