Icu Students React To Introduction Of New 500 Kwacha Notes

Students at the Information and Communications University (ICU) have shared their opinions on the newly introduced 500 Kwacha banknote.

Ruben Kapya, a student at ICU, voiced his concerns, stating that the 500 Kwacha note may not be necessary. He argued that losing a single 500 Kwacha note could result in a significant financial setback, and if one were to lose multiple notes, it could be equivalent to the cost of their school fees. Kapya suggested that the government should consider introducing a 200 Kwacha note as the highest instead of a 500 kwacha note, which he believes would be a more practical alternative. He did acknowledge one positive aspect of the new currency, noting that it makes it easier to withdraw large sums of money and carry them.

Thokozikile Machita, another student, raised concerns about the potential confusion the 500 Kwacha note could cause in public transport. She pointed out that a bus conductor collecting 500 Kwacha notes from five passengers would have to find change for 2,500 Kwacha yet the conductor is only suppose to get 15 Kwacha from these large notes, this could create a logistical challenge.

Gertrude Bwalya, yet another ICU student, expressed skepticism about the value of the new 5 Kwacha coin. She argued that the introduction of the coin would only decrease its value further, adding that many people dislike coins because they are heavy to carry and hold less value than paper notes.

The reactions from ICU students reflect a broader sense of uncertainty and concern regarding the practical implications of the new currency.

By Peter Ngelelwa ICU-NEWS 

12th February,2025