Is Zambia on your bucket list? Well, there are some recent noteworthy changes in the country’s financial landscape.
Picture: iStock / Herkisi
According to IOL, individuals who are caught using foreign currency for local transactions could face up to ten years in prison or substantial fines. This is as per a draft document released by the Bank of Zambia this past Saturday.
The new guidelines will soon be formalized as a statutory instrument by the country’s Minister of Finance and National Planning. All local public and private transactions will need to be conducted in Zambian Kwacha (ZMW) and Ngwee.
Thus, visitors are urged to ensure that their foreign currency is exchanged for Kwacha upon arrival. In remaining compliant to the local regulations and embracing the local currency, travellers will enjoy smoother transactions while also supporting the country’s economic stability.
Follow us on social media for more travel news, inspiration, and guides. You can also tag us to be featured.
TikTok | Instagram | Facebook | Twitter
