Malawians differ on MK5000 note

The Democratic Progressive Party (DPP) led government’s plan to to introduce a MK5000 Malawians has elicited mixed reactions from Malawians.

Malawi24 caught up with Malawians in Malawi’s capital, Lilongwe and some them said that the idea to introduce the MK5000 note is a sign that Malawi’s economy is not growing while others hailed the move.

Prisca Mankhwanda told Malawi24 that government should be serious before it comes to the final conclusion of the move since it will tell the world that our currency is of no value.

“MK5000 note? I think this idea is not good since this means that our economy is not that good,” Mankhwanda told Malawi24.

But another Lilongwe resident Brian Chirombo seconded the move saying it will help Malawians to contain its economy.

The idea is coming barely a year after Malawi introduced a K2,000 bank note.
Finance Ministry Goodall Gondwe confirmed the plans on Monday.

“It costs eight million dollar (about K5.8 Billion) for ordering new bank notes and it is a lie that when we come up with this new bank note then we will have prices of goods on the market increasing,” Finance Minister Goodall Gondwe is being quoted as saying.

Gondwe said Malawi remains the sole nation in the SADC region with the least bank note.

Government had said the K2000 note came about because the current highest note of K1000 had lost value.