Malawi currency 5 Pounds banknote 1964

Malawi currency 5 Pounds banknote 1964
Malawi banknotes 5 Pounds note 1964
Malawi currency 5 Pounds banknote 1964 The Reserve Bank of Malawi.

Obverse: Portrait of Dr. Hastings Kamuzu Banda - first president of Malawi at left, fisherman in boat on Lake Malawi at center.
Reverse: Tea Pickers at the foothills of Mount Mulanje.

Malawi banknotes - Malawi paper money
Act 1964 "Pound System"

5 Shillings    10 Shillings    One Pound    5 Pounds

President Dr. Hastings Kamuzu Banda

Hastings Kamuzu Banda (c. March or April 1898 – 25 November 1997) was the leader of Malawi and its predecessor state, Nyasaland, from 1961 to 1994. After receiving much of his education overseas, Banda returned to his home country (then British Nyasaland) to speak against colonialism and advocate for independence. In 1963, he was formally appointed prime minister of Nyasaland and led the country to independence as Malawi a year later. Two years later, he proclaimed Malawi a republic with himself as president. He consolidated power and later declared Malawi a one-party state under the Malawi Congress Party (MCP). In 1970, the MCP made him the party's President for Life. In 1971, he became President for Life of Malawi itself.
He died in South Africa in 1997. His legacy remains controversial, with some hailing him as a national and African hero, while others denounce him as a tyrant and as a corrupt leader.

Malawian pound

The pound was the currency of Malawi until 1971. From 1932, Malawi (then Nyasaland) used the Southern Rhodesian pound. In 1955, a new currency was introduced, the Rhodesia and Nyasaland pound. This was replaced by the Malaŵian pound in 1964, following Malawi's independence. The pound was subdivided into 20 shillings, each of 12 pence. The pound was replaced by the kwacha in 1971, at a rate of 2 kwacha = 1 pound.

On 6 July 1964, Nyasaland became independent from British rule and renamed itself Malaŵi. Upon becoming a republic in 1966, Malawi became a single-party state under the presidency of Hastings Kamuzu Banda, who remained president until 1994, when he was ousted from power. His portrait appears on the front of all notes issued during his three decades in office, with scenes on the back emphasizing agriculture’s great importance to Malawi’s economy. Notes during his presidency also carry watermarks (and later registration devices) of a rooster, the symbol of Banda’s Malawi Congress Party. The first series of notes dated 1964 and issued by the Reserve Bank of Malawi consists of the denominations 5 and 10 shillings, as well as 1 and 5 pounds.

In 1964, coins were issued in copper-nickel and in the denominations of 6 pence, 1 shilling, 1 florin (2 shillings) and ½ crown (2½ shillings). All bore the portrait of Hastings Banda. In 1967, 1 penny coins were introduced. The 1 penny had a smooth edge whereas all the other coins had 4 × 4 interrupted milling.