Govt engages Zampost and Natsave in exchanging old currency notes drive

—–Parliament heard today that government through the ministry of finance has mandated Zampost and Natsave bank to offer mobile services in rural areas for exchanging old kwacha bank notes for the new ones.

 

Deputy finance minster Keith Mukata said government was fully aware of some places in the country that don’t have banking facilities hence the move to engage the said firms.

 

Mr Mukata was responding to a question raised by Kaputa PF area member of parliament Maxas Ngonga who wanted to find out if government was aware that there are is still a lot of old kwacha notes in circulation in rural areas.

 

Mr. Mukata assured the house that government has taken into consideration of rural places hence the two and half years set aside for exchanging the old notes for the new ones.

 

He appealed to members of parliament to report any person found charging a fee when exchanging the old currency for the rebased kwacha.

The deputy minister disclosed to the house that p6 percent of the old kwacha currency has been withdrawn from circulation.

 

And Kaputa MP Mr Ngonga complained that coins in circulation were not adequate enough resulting in locals facing challenges when changing the monies.

 

Mr.  Mukata revealed to the house that the printing of new currencies is an ongoing project.

 

He  added that more money will printed to cushion the short fall in some parts of the country.

 

Meanwhile,  Mafinga MMD area member of Parliament  Catherine Namugala question the ministry of finance as to how they will manage to mop the old kwacha currency from rural places without post offices.

 

In response, Mr Mukata said mobile facilitates will be used to mop the old kwacha currency in place without the post office or banking facility.