50 Kwacha

The P#37 series had an unusually long run for a Zambian note — nearly two decades bracketing a period of severe economic turbulence. In the mid-1990s, Zambia's inflation was running above 180% annually, which meant the 50 Kwacha denomination, once meaningful, had become functionally marginal before the series was even halfway through its print life.

Thomas De La Rue's involvement was continuous throughout, though the note underwent subtle security revisions between early and late printings. Watermark-only security was already considered minimal by the time the later dates were issued.