Malawian kwacha facts for kids

Quick facts for kids Malawian kwacha
Old coins of the Malawian kwacha. current k2000 banknote
ISO 4217 Code	MWK
User(s)	Malawi
Inflation	19.90%
Source	Rbm Nov 2016
Subunit
1⁄100	tambala
Symbol	K
Coins
Freq. used	1, 5, 10 kwacha
Rarely used	1, 2, 5, 10, 20, 50 tambala
Banknotes	20, 50, 100, 200, 500, 1,000, 2,000, 5,000 kwacha

The kwacha is the official money used in Malawi, a country in Africa. It was first introduced in 1971. Before the kwacha, Malawi used the Malawian pound.

One kwacha is made up of 100 smaller units called tambala. The Reserve Bank of Malawi is in charge of printing and issuing the kwacha banknotes. Sometimes, the value of the kwacha changes compared to other countries' money. For example, in 2012, its value dropped quite a bit. More recently, in 2022 and 2023, its value also changed, which affected prices in Malawi.

What Does "Kwacha" Mean?

The name kwacha comes from a local language called Chinyanja or Chichewa. It means "it has dawned" or "it is morning". This name was first used for the money in Zambia in 1968.

The word tambala also comes from the Chichewa language. It means "rooster". It got this name because a hundred roosters crowing announce the dawn. This connects nicely with "kwacha" meaning "it has dawned".

A Brief History of Malawi's Money

The kwacha took over from the Malawian pound in 1971. When this happened, two kwacha were worth the same as one pound.

Before the kwacha, Malawi used different types of money. These included the British pound sterling, the South African rand, and the Rhodesian dollar. The kwacha helped Malawi have its own unique currency.

The value of the kwacha used to be set by the government. But since 1994, its value has been allowed to "float". This means its value can change based on how much people want to buy or sell it.

Coins of Malawi

A one kwacha coin from 1992

The first kwacha coins were made in 1971. They came in small values like 1, 2, 5, 10, and 20 tambala. Later, in 1986, larger coins of 50 tambala and 1 kwacha were added.

In 2007, even bigger coins were introduced: 5 and 10 kwacha. Then, in 2012, new 1, 5, and 10 kwacha coins were put into circulation.

The coins are made from different metals. For example, the 1 and 2 tambala coins are made of steel with a copper coating. The 5 tambala coin is steel with a nickel coating. The 50 tambala and 1 kwacha coins are steel with a brass coating.

Banknotes of Malawi

An old Malawian 1 kwacha note from 1990. It shows former President Hastings Banda and workers in a tobacco field.

Banknotes are the paper money. In 1971, the first kwacha banknotes were released. They included values like 50 tambala, 1, 2, and 10 kwacha. Over the years, new banknotes were added and some old ones were stopped.

For example, 5 kwacha notes came out in 1973, and 20 kwacha notes in 1983. The 50 tambala and 1 kwacha notes were last printed in the late 1980s and early 1990s.

Higher value notes were introduced as time went on. These included 50 kwacha in 1993, 100 kwacha in 1993, 200 kwacha in 1995, and 500 kwacha in 2001. A 2000 kwacha note was added in 2016 to help with cash shortages.

Banknote Series (1997)

Here are some of the banknotes that were in use around 2008, from the 1997 series:

1997 Series
Image	Value	Dimensions	Main Colour	Description		Date of first printing
				Obverse	Reverse
	K5	126 × 63 mm	Green	John Chilembwe	Villagers mashing grain	1 July 1997
	K10	132 × 66 mm	Brown		Children in "bush" school
	K20	138 × 69 mm	Purple		Workers harvesting tea leaves
	K50	144 × 72 mm	Blue		Independence Arch in Blantyre
	K100	150 × 75 mm	Red		Capital Hill in Lilongwe
	K200	156 × 78 mm	Blue		Reserve Bank building in Lilongwe
	K500	162 × 81 mm	Multi-colour		Reserve Bank building in Blantyre	1 December 2001

New Banknote Series (2012)

In 2012, the Reserve Bank of Malawi introduced a brand new series of banknotes. These new notes were smaller than the older ones, which helped save money on printing. A new 1,000 kwacha note was also added, becoming the largest value note at the time.

The new 1,000 kwacha note featured the face of Malawi's first president, Hastings Banda, on the front. On the back, it showed maize silos in Mzuzu, representing an important crop for the country.

There was a small mistake found on the new 20 kwacha note. The building shown on the back was supposed to be the Domasi Teacher's Training College, but it was actually the Machinga Teacher's Training College.

The Reserve Bank also planned to make the new notes more "blind friendly". This means making them easier for people who are visually impaired to tell apart.

2012 Series
Image	Value	Dimensions	Main Colour	Description		Date of first printing
				Obverse	Reverse
	K20	128 × 64 mm	Purple	Reserve Bank of Malawi headquarters in Lilongwe; Inkosi ya Makhosi M’mbelwa II (Lazalo Mkhuzo Jere)	Domasi Teachers Training College building and tree; stack of books and mortarboard	23 May 2012
	K50	128 × 64 mm	Light blue and green	Reserve Bank of Malawi headquarters building in Lilongwe; Inkosi Ya Makhosi Gomani II (Philip Zitonga Maseko)	Elephants, tree, and safari vehicle in Kasungu National Park
	K100	128 × 64 mm	Red	Reserve Bank of Malawi headquarters building in Lilongwe; James Frederick Sangala	College of Medicine in Blantyre; stethoscope
	K200	132 × 66 mm	Blue and violet	Reserve Bank of Malawi headquarters building in Lilongwe; Rose Lomathinda Chibambo	New Parliament building in Lilongwe
	K500	132 × 66 mm	Brown and orange	Reserve Bank of Malawi headquarters building in Lilongwe; Reverend John Chilembwe	Mulunguzi dam in Zomba; water spigot; silhouette of woman carrying container on head and man carrying hoe over shoulder
	K1000	132 × 66 mm	Green	Reserve Bank of Malawi headquarters building in Lilongwe; Dr. Hastings Kamuzu Banda	Mzuzu maize silos; stalk of maize (corn); silhouette of two people mashing maize
	K2000		Yellow	Reverend John Chilembwe; outline of Malawi	Malawi University of Science and Technology, Thyolo District	1 June 2016

Newer Banknote Series (2022)

In 2022, even newer banknotes were released, including higher values like the 2000 kwacha and 5000 kwacha notes.

See also

• Economy of Malawi
• Zambian kwacha