4 December 2012

Zambia: APOGEE Publishes Rebased Kwacha User Guide

APOGEE investments Limited have published a user's guide to the rebased Zambian Kwacha called 'Let's Get Back to Re-Basics' which is currently in circulation in the country as other shops begin to display double prices on the products.

Apogee investments Limited general manager Fiona Navarro said the user's guide offered a user friendly overview of the Zambian Kwacha rebasing exercise which is scheduled to take place on January 1, 2013.

Ms Navarro said "Let's Get Back to Re-basics is designed to incorporate a broad overview of the new currency with many hands-on examples and real world scenarios."

She said the user's guide was meant to help sensitise Zambians on the rebased Kwacha so they could be able to quickly adapt to the new notes.

Ms Navarro said any one that obtained the copy would be as good as having gone through training on the rebased Kwacha.

She said the information in the guide was drawn from documents produced by the Bank of Zambia as much as possible to ensure accuracy in the information.

"We are committed to helping the Government to sensitise the people on the new bank notes so we would like to urge Zambians to take keen interest in these sensitisation products so that they don't have problems when the rebased currency comes into effect on January 1, 2013," she said.

Meanwhile, a survey conducted by the Business Times has shown that most shops in the country have started transacting with double pricing on their products as required by the Bank of Zambia (BOZ).

Among shops that have started displaying the double prices on the products are PEP stores, First National Bank (FNB), Fusion Fashions, Times of Zambia (TOZ), Shoprite Manda Hill and Shoprite Cairo Road, among others.

This follows the announcement by the BOZ that all shops and business companies should start displaying double prices on the transactions being done.

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