South Africa has unveiled new banknotes and coins, the country’s first significant currency overhaul in more than a decade.
The South African Reserve Bank (SARB) announced the adjustments, claiming that they were necessary to stay up with technology and avoid counterfeiting.
According to reports, the new notes, which will go into circulation, will keep the picture of Nelson Mandela, the nation’s first president chosen democratically before he passed away in 2013.
While the so-called “Big Five” animals of Africa will now be shown with their young, the banknotes will still feature images of the rhino, elephants, lions, buffalo, and leopards.
The images of plants and animals on the coins will depict an ecological theme.
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Report says South Africa’s 11 official languages will also be represented on the various banknotes and coins.
There will also be specific physical characteristics to help visually impaired people differentiate the banknotes.
There are no changes, however, to any of the denominations or size of the banknotes.
Existing banknotes and coins will continue to remain legal tender and can be used alongside the upgraded banknotes, according to SARB.
The Deputy Governor of the SARB, Fundi Tshazibana stated that “the notes will also be rolled out in Namibia, Eswatini, and Lesotho which are in a common monetary area with South Africa and where the rand is considered legal tender alongside their own currencies.”
