In 2018 alone, the bank recorded 1757 pieces of counterfeit notes, as the Reserve Bank is still acknowledge of the fake money on the market today.

RBM deputy governor Grant Kabango told The Nation newspapers that the rising presence of counterfeit notes will cause citizens to lose trust in the local currency or guard it jealously. “We have on many occasions heard about incidences of counterfeit currency of our Malawi kwacha through various sources. Large chunks of these fake currencies have of late been produced across the borders in Tanzania and Zambia.”said the deputy governor.

Since 2017, various people have been nabbed and arrested for producing and possessing fake bank notes, especially the K2000 note. This year it was reported that the counterfeit notes were abundant in Phalombe, while Mzuzu and Salima reported arrests.

Reserve Bank of Malawi (RBM) is announced that it was training police officers on tackling production of counterfeit notes. On the other hand, the central bank also launched an app that is aimed at informing individuals about noting the difference between counterfeit and original Malawi Kwacha notes.