Zambia’s banking system has become more competitive in recent years, with both local and international banks offering a range of services to Zambians and expats alike.


Money in Zambia

The national currency is the Zambian Kwacha (ZMW) which is subdivided into 100 ngwee. The kwacha is available in the following denominations:

  • Notes: 2 ZMW, 5 ZMW, 10 ZMW, 20 ZMW, 50 ZMW and 100 ZMW

  • Coins: 5, 10 and 50 ngwee and 1 ZMW


Banking in Zambia

There are a number of banks in Zambia for expats to choose from, including both local and international options. Mobile and online banking services are available at most banks in Zambia.

Opening a bank account in Zambia

While it is possible to open a bank account in Zambia, many expats maintain an account in their own country. If opening a local account, it may be safer and easier to use an international bank which has a branch in the country.

Exchanging money

Foreign currency exchange can be expensive in Zambian bureaux de change. It's important not to change money on the streets, as many of these operations are part of a scam and unsuspecting expats risk being ripped off.

ATMS and credit cards

There are plenty of ATMs in the main cities such as Lusaka and Livingstone, but very few in rural areas. It’s worth planning expenditure ahead of time due to the unreliability of some ATMs.

While Zambia remains a largely cash-based society, credit cards are accepted at most large establishments in Zambian cities.


Taxes in Zambia

Income taxes in Zambia are implemented along a progressive scale from 0 to 37.5 percent, depending on income and resident status. Corporate tax is higher, and there is a specialised mining tax.

Tax regulations in Zambia are subject to change and expats should enlist the services of a registered tax consultant to assist them with their Zambian taxes. 

Expat Health Insurance

Cigna Health Insurance

Cigna Global

With 86 million customer relationships in over 200 countries, Cigna Global has unrivalled experience in dealing with varied and unique medical situations and delivering high standards of service wherever you live in the world.

Get a quote from Cigna Global

“Aetna

Aetna

Aetna International, offering comprehensive global medical coverage, has a network of 1.3 million medical providers worldwide. You will have the flexibility to choose from six areas of coverage, including worldwide, multiple levels of benefits to choose from, plus various optional benefits to meet your needs.

Get your free no-obligation quotes now!

Moving Companies

Sirelo logo

Moving Internationally?

Sirelo has a network of more than 500 international removal companies that can move your furniture and possessions to your new home. By filling in a form, you’ll get up to 5 quotes from recommended movers. This service is free of charge and will help you select an international moving company that suits your needs and budget.

Get your free no-obligation quotes now!