ZKThe Kwacha (ISO 4217 code: ZMW) is the currency of Zambia. It is subdivided into 100 Ngwee.
The name kwacha derives from the Nyanja, Bemba, and Tonga language word for "dawn", alluding to the Zambian nationalist slogan of a "new dawn of freedom". The name ngwee translates as "bright" in the Nyanja language.
The region was affected by the Bantu expansion of the 13th century. Following the arrival of European explorers in the 18th century, the British colonised the region into the British protectorates of Barotseland-North-Western Rhodesia and North-Eastern Rhodesia comprising 73 tribes, towards the end of the 19th century. These were merged in 1911 to form Northern Rhodesia. For most of the colonial period, Zambia was governed by an administration appointed from London with the advice of the British South Africa Company. On 24 October 1964, Zambia became independent of the United Kingdom and prime minister Kenneth Kaunda became the inaugural president. From 1972 to 1991 Zambia was a one-party state with the United National Independence Party as the sole legal political party under the motto "One Zambia, One Nation" coined by Kaunda. Kaunda was succeeded by Frederick Chiluba of the social-democratic Movement for Multi-Party Democracy in 1991, beginning a period of government decentralisation.