RBM to introduce K2000 bank note

Reserve Bank of Malawi will on 19 December, 2016 introduce the new kwacha note, K2000.

The front of the note will bear the portrait of Reverend John Chilembwe while the back will have a motif of the Malawi University of Science and Technology located in Thyolo district depicting the theme of social development (tertiary education)

RBM governor Charles Chuka said the new note has been introduced because the current highest note of K1000 has lost value. He said the number of K1000 notes in circulation has increased from 13 percent in 2012 to 36 percent in 2016.

“This has resulted in the general public carrying large amounts of cash when doing transactions risking their lives and property,” Chuka said.