RBM sensitises people on K20, K50 notes
Reserve Bank of Malawi manager for currency operations Peter Ziba has advised people to transact in K20 and K50 banknotes as they are still part of legal tender.
Speaking during a meeting in Salima on Tuesday with business community and police, he said they observed that most people are not getting change while others are refusing to receive these denominations.
“We are saying that K20 and K50 are still legal tender, so people have the right to ask for change in form of K20 and K50 and people have the right to use them to buy items,” said Ziba.
He said: “People might not buy items at K50, but if they have two K50s, it makes K100 and that they can use to buy goods and services.”
The meeting followed reports that some citizens are refusing to transact business using K20 or K50s.
Salima Police Station officer-in-charge Mwizamose Nyoni said their duty was to protect the local currency and ensure that people use it wisely.
She said people do not handle banknotes in the right way and they should protect it.
“I have seen these things in markets, weddings, but with this sensitisation, people will understand how to handle, use and protect the currency,” said Nyoni.
A participant, Moses Mitambo, thanked RBM for clarifying that K20 and K50 notes are still legal.
