The Reserve Bank of Malawi (RBM) has announced the introduction of new 50 and 20 Kwacha coins, set to enter circulation on 24 April 2026, as part of efforts to improve the efficiency and durability of Malawi’s currency.
Speaking at a press briefing in Lilongwe, RBM Governor George Partridge said the move follows periodic reviews aimed at ensuring the country’s currency system remains cost-effective and aligned with economic developments.
He said the 50 and 20 Kwacha banknotes have been experiencing high wear and tear due to frequent use, leading to increased replacement costs.
“To address these challenges and in keeping with our commitment to maintaining a clean, secure and durable currency, the bank undertook a project to convert these two denominations from banknotes to coins,” said Partridge.
He added that coins offer a longer lifespan, lasting between 10 and 20 years, compared to less than a year for the current notes, resulting in long-term savings.
Partridge further said that the change will not affect the value of the denominations and that existing banknotes will continue to circulate alongside the coins.
“They will simply be withdrawn naturally as they wear out over time,” he said.
He also emphasised the importance of low-value denominations in facilitating smooth transactions, noting that they help prevent price rounding and reduce reliance on higher-value notes.
“I urge all members of the public to embrace the new coins and stop rejecting low-value denominations as they remain vital for day-to-day commerce,” said Partridge.
The RBM is expected to roll out a public awareness campaign to ensure a smooth transition.
