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Changes to foreign currency regulations in Zambia

Changes to foreign currency regulations in Zambia

Changes to foreign currency regulations in Zambia

Zambia has recently introduced new foreign currency regulations. The situation in Zambia is quite fluid as the private sector seeks clarification on how these policies will affect doing business and specifically for international tourists. As these become available to us we will of course update you - however below are certain things your passengers will need to be aware of now.

All payments made in Zambia for any services or products are only payable in the local currency - Zambian Kwacha. Payments made from abroad are still acceptable in foreign currency and payments for entry visas remain payable in foreign currency at the Port of Entry. Once you have cleared immigration though, all payments must be made in Kwacha only.

The USD/Kwacha exchange rate is fluctuating a lot at the moment with a 14% swing in value just within the last 2 weeks so it is important to take this into account when calculating costs.

Departure taxes on commercial flights are generally built into the ticket price, however for domestic or charter flights these must be paid at the
airport in Kwacha . In order to ensure your passengers are prepared and any inconvenience is kept to a minimum, we have outlined some guidelines below:

. It is not possible to purchase Kwacha outside of Zambia so you will need to change cash at a Bureau de Change or commercial bank. Alternatively carry a debit card to draw cash from local ATM's  - remember your PIN!

. Carry a little extra US$ in cash than you had previously budgeted to allow for any exchange rate fluctuations.

. Only recent series US$ notes (large presidential portrait) are accepted by banks and bureau's. You will need your passport to change money at these facilities.

Below are some specific details we have gathered from the Banks that operate at Harry Mwaanga Nkumbula (Livingstone) International Airport. Please take special note of these as they differ from bank to bank:


BARCLAYS BANK - Airport
Hours
Mon-Fri: 08h30 to 14h30
Sat (only 1st and last Sat of each month): 08h15 to 14h30
Sun: Closed
Public Holidays: Closed
ATM:  Accept Visa ONLY (MasterCard will be accepted inside the bank) Other cards will be accepted in the near future however NOT at present.

BARCLAYS BANK - Sun International Resort
Hours
Mon-Fri: 08h30 to 16h00
Sat & Sun: 08h30 to 12h00
Public Holidays: Closed
ATM:  Accept Visa ONLY (MasterCard will be accepted inside the bank) Other cards will be accepted in the near future however NOT at present.

FINANCE BANK - Airport
Hours
Mon-Fri: 08h30 to 16h00
Sat & Sun: 08h30 to 14h00
Public Holidays: Closed
ATM:  Accept Visa debit ONLY (no credit cards accepted)
NO cards will be accepted in banking hall - cash only.

FINANCE BANK - Mosi Oa Tunya Square (New Shoprite Complex)
Hours
Mon-Sun: 08h30 to 20h00
Public Holidays: Closed
ATM:  Accept Visa debit ONLY (no credit cards accepted)
NO cards will be accepted in banking hall - cash only.

Note: There are other commercial banks & bureau de changes located in Livingstone town at which foreign exchange transactions can be facilitated. These organisations have varying hours and conditions of operation, however as a general rule the hours are:
Mon to Fri: 08h30 to 14h30
Sat & Sun: Closed
Public Holidays: Closed

Please note the above information is based on our current understanding of these new regulations and that we have taken every care in ensuring the information above is accurate as possible. However the situation on the ground is very fluid and is subject to change without any notice, we will endeavour to keep you updated as circumstances change.

Should you have any queries on any of the above, please feel free to contact us.

Read more articles from this issue:
Zambezi Traveller (Issue 09, June 2012)

Read more about the region in our destination guide:
Livingstone