RBM seeks public sensitisation on currency

Malawi's central bank last month sent a warning that the country has been severely hit by counterfeit notes of its biggest bill of 500 kwacha, a situation RBM governor, Dr. Perks Ligoya describes as undermining the integrity of the national currency.

The central bank, who put up a 50 000 kwacha bounty for anyone who comes forth with information leading to the apprehension and successful prosecution of suspects, has decided to take another step.

The bank says, as a sole issuer of currency in Malawi, it strives to promote an efficient banking, payment and currency management system in the country in order to facilitate financial transactions for the promotion of the country's economic development.

"One of the key result areas for achieving the above strategic objective is to safeguard the integrity of the Malawi currency. This is partly achieved through public sensitisation of the security features on the Malawi kwacha," says the bank in a newspaper advert that calls for expression of interest from established firms or advertising agencies.

Spread the message

With such agencies or firms in place, the bank hopes to get assistance in effective and efficient dissemination of currency information to all parts of the country through various modes of communication.

"Specifically, to educate the general public on how to recognise security features on the Malawi kwacha banknotes and how to take care of banknotes to ensure circulation of clean notes and their increased longevity," says the bank.

Targeted groups

The sensitisation campaign targets specific groups that will include professional cash handlers like the bank, foreign exchange bureaus and government revenue collectors. Others include: retailers, market vendors, niche groups, chiefs, members of parliament, church leaders, reporters and civil society organisations.

In order to reach out to the target groups, the established firms or advertising agencies will be expected to, among other things, propose the most efficient and effective strategies of disseminating currency information to the public.

They are also expected to draw up a comprehensive program of public awareness activities in liaison with the bank, design various forms of public awareness campaign material for the bank's consideration as well as to reproduce various awareness campaign materials that will be supplied by the bank.

The bank hopes that with successful sensitisation campaign, it will be able to preserve the integrity of the national currency.