On the morning of July 7, José Lima Massano, President of the National Bank of Angola (BNA), announced that the new series of Kwanzaa banknotes in the 2020 series will begin circulation on July 30. There are no changes in coins currently in circulation.
According to reports, the "2020 series of new wide-tie banknotes" cost about US$30 million and were manufactured by two European companies and a North American company.
José Lima Massano said that the new version of Kwanza will begin to circulate gradually from July 30, first of all 200 Kwanza (AKz) banknotes, 500 Kwanza face value in September, 1000 Kwanza face value in October, and 2000 Kwanza face value in November The face value is 5,000 face value in January 2021.
José Lima Massano said that despite legal requirements, it is not expected that new banknotes with a face value of 10,000 will be issued unless absolutely necessary.
In order to make people understand its characteristics and ensure that it is available in the country, the service will be gradually launched. The new Kwanzaa banknotes will coexist in the market with the 2012 series of existing banknotes until December 31, 2021.
Joséde Lima Massano said that the anti-counterfeiting technology of the new wide-width banknotes has been further upgraded. The banknotes have a polymer substrate, which can make them more durable in circulation and reduce the cost of wear.