Malawi switches over to a new decimal currency, the Kwacha

Malawi officially replaced the Malawian pound with the Kwacha on 28 August 1970. The country had circulated the Pound sterling, the Rhodesian Dollar and the South African Rand at different stages. The Kwacha is divided into hundred Tambala. The word kwacha means “dawn” in the Nyanja and Bemba languages and Tambala means “rooster”. Since its introduction, notes of higher denominations including the 50, 100, 200, 500 and 1000 note have been gradually added to the Kwacha.