Client Brief: Bank of Zambia Currency Directive

Effective 26 December 2025

What’s Changing

The Bank of Zambia has directed that all domestic transactions must be settled in Kwacha (ZMW).

• Payments for goods and services within Zambia must be made in
• Contracts or invoices expressed in USD, Euro, or other foreign currencies must be settled in Kwacha, using the market exchange rate.
• If parties cannot agree on the rate, the official Bank of Zambia Kwacha/US Dollar mid-rate

will apply.