President Dr. Lazarus Chakwera’s Tonse alliance administration has introduced MK 5000 bank note.
Reserve Bank of Malawi Governor, Dr Wilson Banda, announced the introduction of the new bank note and an improved K2000 note through a presser in Lilongwe.
According to Dr. Banda, the new MK 5000 bank notes will be in circulation from 24th February, 2022.
The central bank has spent K2.8 billion in the introduction of the new K5000 banknote and the improved K2000 note.
However, the Governor, Dr Wilson Banda, says the cost will change as more notes will be printed.
Meanwhile, Malawians on the social media have nicknamed the newly introduced MK 5000 bank note as ‘chikwentere’.