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South Africa’s revamped local currency unveiled

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Staff Writer
Staff Writer
Africa Feeds Staff writers are group of African journalists focused on reporting news about the continent and the rest of the world.

South Africa has unveiled upgraded banknotes and fourth decimal coin series.

The new currencies have new designs and enhanced security features utilising the latest technology to protect the integrity of the currency.

The South African Reserve Bank (SARB) said the upgraded banknotes and coins have now been released into the South African market.

The new denominations are now available effective Thursday, 4 May 2023 and will be introduced incrementally, the bank said.

This is the first change to South Africa’s currency since 2012 when the current banknote series was issued.

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“The upgraded banknotes and coin have enhanced security features and new designs; however, the broad themes for the upgraded banknotes remain the same as the current banknotes, while the theme for the coin is deep ecology,” the SARB said.

The upgraded banknotes though continue to pay homage to South Africa’s first democratically elected president, Nelson Mandela.

Mandela’s portrait continue to be featured on the front of all five denominations while the Big 5 animals are depicted as a family.

“We also celebrate our constitutional democracy with the preamble to the South African Constitution printed in microtext around Madiba’s portrait and the country’s flag featured on the front and the back of the banknotes,” the bank said.

The fourth decimal coin series is based on the theme of deep ecology, which celebrates the interconnectedness of humans and other living organisms as an integral part of the environment.

 

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Source: Africafeeds.com

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