100 Kwacha

Few denomination series in sub-Saharan Africa were produced by as many different printers across as short a window. Thomas de la Rue, the South African Bank Note Company, FC Oberthur, and Giesecke & Devrient all produced versions of this note between 1992 and 2011 — a rotation driven partly by cost tendering, partly by Zambia's chronic fiscal pressure during the kwacha's long inflationary slide. By 2011, 100 Kwacha had become a near-worthless denomination; the entire currency was redenominated in 2013 at 1,000 to 1.

Distinguishing printer variants requires close attention to microprint quality and watermark registration, which varied noticeably between the SABNC and de la Rue runs.