Home Business Economy Reserve Bank of South Africa pays tribute to Nelson Mandela

Reserve Bank of South Africa pays tribute to Nelson Mandela


SOUTH AFRICA – The South African Reserve Bank (SARB) has issued updated banknotes and coins, which will be available this week as reported by Pretoria News, a partner of TV BRICS.

The new banknotes continue to pay tribute to former president Nelson Mandela with his image on the obverse and the so-called Big Five (animals) (elephant, rhino, lion, Cape buffalo and leopard) represented as a family on the reverse.

In addition, the preamble to the South African Constitution is printed in micro-text around Mandela’s portrait and the national flag is featured on the front and back of the banknotes.

The banknotes have also incorporated large-format numbers and colour schemes to help visually impaired people.

The reserve bank reminded us that banknotes and coins are regularly updated in line with international best practices to combat counterfeiting and in line with technological advances.

On the transition to the new banknotes, SARB Governor Lesetja Kganyago explained that all previously issued banknotes and coins can still be used alongside the updated ones.

Let no one think that those that will now be withdrawn from circulation may rise in value in the hands of collectors, he warned.



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