During the reign of Malawian President Hastings Kamuzu Banda from 1964 to 1994, the Malawian coinage system underwent significant changes. In 1964, after Malawi's independence, the British East African pound (BEAC) was replaced by the Malawian kwacha. The kwacha was divided into 100 tambalas. The first Malawian coins were put into circulation in 1965. These coins were made of bronze, silver and gold and were valued at 1, 2, 5, 10 and 20 tambalas. In 1970, the 50 tambala coin was also introduced. In 1971, Malawi switched to the decimal monetary system. At that time, the kwacha was divided into 1,000 tambalas. The new coins were put into circulation in 1972. These coins were made of copper, bronze and silver and were in denominations of 1, 2, 5, 10, 20, 50 and 100 tambala. Most of the coins reflected elements of local traditions and culture, and their value was often adjusted to suit economic conditions. the production of coins often served as a tool for political propaganda. The obverse of the coin features the portrait of President Banda, and the obverse features the coat of arms of Malawi and the inscription "Malawi - The Country of Peace".