Currencies/Congo Republic zaire

Introduction

The zaire (French: zaïre) was the official currency of the Republic of Zaire (now the Democratic Republic of the Congo) from 1967 to 1997. It replaced the Congolese franc and was later succeeded by the reintroduced franc following the end of President Mobutu Sese Seko’s regime. The zaire was divided into 100 makuta, and each makuta into 100 sengi.

History

The zaire was introduced on 23 June 1967, replacing the Congolese franc at the rate of 1 zaire = 1,000 francs. The new currency symbolized economic reform and national identity under the newly established regime of President Mobutu Sese Seko, who renamed the country “Zaire” as part of his Africanization policies.

Initially, the zaire maintained reasonable stability, but during the 1980s and 1990s, widespread economic mismanagement and political instability led to severe hyperinflation. The currency rapidly lost value, and the smaller subdivisions — makuta and sengi — became obsolete.

In 1993, the new zaire was introduced at a rate of 1 new zaire = 3,000,000 old zaires. However, inflation persisted, and the new currency also collapsed within a few years. In 1998, after the fall of Mobutu’s government, the Congolese franc was reintroduced as the national currency, officially ending the use of the zaire.

Coins

The first zaire coinage appeared in 1967, including 10 sengi, 1 likuta, and 5 makuta pieces. The 10 sengi and 1 likuta coins were made of aluminium, while the 5 makuta coin was struck in copper-nickel.

Later issues included 10, 20 makuta, and 1, 5, and 10 zaire coins, introduced between the 1970s and 1980s. These coins featured the leopard’s head, the national star emblem, and the inscription République du Zaïre.

By the late 1980s, rising inflation rendered small denominations worthless, and only higher-value zaire coins remained in limited use. All coins from the zaire period were minted by the Monnaie de Paris (Paris Mint) and are now primarily of numismatic interest.

Banknotes

The first zaire banknotes, issued in 1967, were printed in denominations of 10, 20, and 50 makuta, and 1 and 5 zaires. As inflation accelerated, new denominations were introduced, including 10, 50, 100, 500, 1,000, 5,000, 10,000, 20,000, 50,000, 100,000, 200,000, 500,000, and eventually 5,000,000 zaires in the early 1990s.

When the new zaire replaced the original currency in 1993, a new series of notes was issued, bearing Mobutu’s portrait and national emblems. These included denominations from 1 new makuta up to 5 million new zaires.

Most notes featured inscriptions in French and Swahili, and despite elaborate designs, their value declined sharply due to hyperinflation. By 1997, the currency had become effectively worthless.

Currency

Under the Zairean monetary system:

1 zaire = 100 makuta

1 makuta = 100 sengi

The smaller denominations quickly disappeared from circulation due to inflation. By the mid-1980s, the economy was dominated by large-value notes, with prices often increasing daily. The new zaire introduced in 1993 was an attempt to stabilize the economy, but the reform failed within a few years.

Legacy

The zaire is remembered as one of Africa’s most inflationary currencies. It represents both an ambitious effort at postcolonial monetary independence and the economic turmoil of Mobutu’s long rule. Today, zaire coins and banknotes serve as historical artifacts that document the turbulent financial history of the Congo during the late 20th century.