Cape Town – The South African Reserve Bank (SARB) has announced changes to the country’s banknotes and coins in an effort to keep up with technology and eliminate counterfeiting.
The new banknotes and coins with enhanced security features are expected to go into circulation from Thursday, said SARB.
SARB said the banknotes continue to pay tribute to South Africa’s first democratically elected president, Nelson Mandela but now has the Big 5 family theme.
“The first thing South Africans will notice is the colour – the colour is more vibrant. We’ve maintained the portrait of Nelson Mandela. We have maintained the Big Five theme but this time on the back of the banknote you will see a family theme of the Big Five,” said Managing director of the SA Bank Note Company, Liziwe Mda explained.
[WATCH] The South African Reserve Bank unveiled the country’s upgraded banknotes and coin and they will be in the market from today. The currency with new designs and enhanced security features can be used alongside the current money in circulation. The security upgrade is in… pic.twitter.com/SA5jsMngYA
— SA Reserve Bank (@SAReserveBank) May 4, 2023
Meanwhile, the Managing Director of the SA Mint, Honey Mamabolo, said that they spent almost two years in the development of these new coins.
“There’s been a few changes in terms of the design, the size of some of the coins as well as some enhanced security features. The 10 cent now has a honeybee, the 20 cent is an aloe, and the R5 is a whale,” said Mamabolo.
Follow African Insider on Facebook, Twitter and Instagram
Picture: Twitter/ GCISMpumalanga
For more African news, visit Africaninsider.com
Compiled by Olwethu Mpeshe
