Malawi new note family with 1,000-kwacha denomination reported for introduction in July 2012


According to an article on Nyasa Times dated 9 March 2012, within the next six months the Reserve Bank of Malawi will introduce a whole new series of notes, including a 1,000-kwacha (US$6) note, twice the largest denomination currently in circulation. The notes were announced in Biantyre on 8 March by Governor Dr. Perks Ligoya. An article in the Sunday Times dated 11 March 2012 indicates that the new notes will be issued in July, and will consist of 1, 5, 10, 20, 50, 100, 200, 500, and 1,000 kwacha denominations. It may be that the report is in error, as it hardly seems economically feasible to print notes smaller than 20 kwacha (US$0.12).

The new notes will be much smaller in size than the current notes, which serves as a cost-cutting measure. The new 1,000-kwacha note is to be printed by De La Rue. Nyasa Times reported recently leaked image of the note showing a portrait of current president, Bingu wa Mutharika, but that image is a hoax created from a Federal Republic of Germany DB B31 (P46) 100 deutsche Mark note.

Courtesy of Thomas Krause.

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