According to Times of Zambia the Central Bank Governor Michael Gondwe announced on Wednesday
evening at the BoZ 50th Golden Jubilee gala dinner in Lusaka that the bank
would honour President Sata, Dr Kenneth Kaunda, late Dr Frederick
Chiluba, late Dr Levy Mwanawasa and Mr Rupiah Banda.
Zambia has had five Republican Presidents in the 50 years it has been
independent, with Dr Kaunda as the first one having ruled from 1964 until
1991 when Dr Chiluba took over.
As third President, Dr Mwanawasa ruled Zambia from 2001 until his death
in 2008 when Mr Banda took over.Mr Banda lost the elections to Mr Sata
in 2011.
Dr Gondwe explained that the Central Bank would incorporate the portraits
of Mr Sata and those of the four former Presidents on a commemorative
bank note to be issued in celebration of Zambia’s 50th Independence
anniversary.
As part of 50th anniversary, the Central Bank on Wednesday launched a
bimetallic coin with a face value of K50, bearing the portrait of President
Sata.
‘‘The coin bears the Coat of Arms which is Zambia’s national symbol with
the wording ‘Zambia’ and face value of K50 on the obverse side, while the
reverse side bears the portrait of the incumbent President with the wording
‘Bank of Zambia 50th anniversary’ and the commemoration period
1964-2014,’’ Dr Gondwe explained.
He said the coin symbolised the Central Bank’s continued support to the
national economy through the issuance of legal tender, as well as prudent
monetary policy management.
The BoZ also launched a book titled, ‘50 years of Central Banking,’ with
Dr Gondwe urging interested parties to take keen interest and obtain the
book or purchase the coin from BoZ offices in Ndola and Lusaka.
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