SARB introduces new banknotes and coins
Enhanced security features
South Africa had one of the lowest counterfeit rates in the world, with only an estimated three fake notes for every million banknotes produced.
The South African Reserve Bank (SARB) added enhanced security features, a splash more colour and some new plants and animals to the country's currency in the first major upgrade to its banknotes and coins in more than a decade.
The changes, announced on Wednesday, were in line with international best practice, where generally it is recommended that countries upgrade banknotes and coins regularly to fight against counterfeit notes.
The SARB said South Africa had one of the lowest counterfeit rates in the world, with only an estimated three fake notes for every million banknotes produced.
And while there will be some noticeable differences to the upgraded currency, which will start being circulated this week, former president Nelson Mandela and Africa's Big Five will still adorn the notes.
There will also be no changes to any of the denominations or size of the banknotes.
As far as its banknotes are concerned, some of the biggest changes include the addition of the preamble to the Constitution, as well the inclusion in miniature of the South African flag in their centre threads.
The R20 banknote will become a "more visible" brown, the R50 banknote will be tinged with purple rather than its current red and the R200 will be a more vibrant orange.
The upgrade, the first major one since Mandela's portrait was included on the country's banknotes in 2012, will also expand the Big Five pictures theme on the back of the banknotes to incorporate family scenarios depicting both parents and offspring.
The security features include watermarks that also feature a pic of the Big Five animals that appear on the banknote. There will also continue to be specific physical characteristics to help visually impaired people differentiate the banknotes from one another.
Animals
SARB is also introducing new animal depictions on some of its coins, including the Cape honey bee replacing the aloe on 10c pieces; and the southern right whale, accompanied by South Africa's national fish, the galjoen, on the R5 coin - replacing the buffalo. The springbok, previously featured on R1 coins, will now be on R2 coins, replacing the kudu.
The R1 coin, meanwhile, will now feature the king protea flower. The bitter aloe will be represented on the 20c while the Knysna turaco (loerie) is on the 50c.
The upgraded banknotes and coins will start being put into circulation this week with the expectation that most South Africans will come into contact with the full range of upgraded currency from June onwards. Existing banknotes and coins will continue to remain legal tender and can be used alongside the upgraded banknotes.
The bank said it did not want to overwhelm society with too many changes, which explained why the core features – such as the portrait of Mandela and the Big Five depictions, sizes and denomination mix – remain the same.
In terms of tactile marks to help visually impaired people tell the difference between banknotes, the bank said that while a "lot of people aren't aware of this", there had always been tactile marks to help them differentiate between denominations.
Independence
"We've enhanced this feature and consulted with organisations like Blind SA. When we interviewed visually impaired people, they say this feature has given them the independence to participate in the economy."
The bank said the banknotes were also seen as a "window into our country", adding they should be able to tell the "South African story" in "many different ways".
"Whether it is about our constitutional democracy or who was our first democratically elected president. And from a tourism economy point of view, the Big Five."
The bank also uses a method called "look, feel and tilt" to establish that money is legitimate currency.
South Africans will be able to see the Big Five watermark on both sides of the banknotes and when they tilt the banknote, they will see word SARB and denomination on each banknote. They will also be able to "feel" the raised print on Madiba's face.
Reserve Bank governor Lesetja Kganyago's signature will also be visible and every banknote will maintain its own unique serial number.
"Don't ask for an additional autograph on the banknotes. It is there," the governor quipped at the launch of the currency.
South Africa's 11 official languages will also be represented on the various banknotes and coins.
Since 2012 there have been some minor tweaks to the banknotes. In 2018, during Mandela's centenary celebrations, notes featured a picture of his homes in Soweto and the Eastern Cape, as well as the place of his arrest in Howick.-Fin24
The changes, announced on Wednesday, were in line with international best practice, where generally it is recommended that countries upgrade banknotes and coins regularly to fight against counterfeit notes.
The SARB said South Africa had one of the lowest counterfeit rates in the world, with only an estimated three fake notes for every million banknotes produced.
And while there will be some noticeable differences to the upgraded currency, which will start being circulated this week, former president Nelson Mandela and Africa's Big Five will still adorn the notes.
There will also be no changes to any of the denominations or size of the banknotes.
As far as its banknotes are concerned, some of the biggest changes include the addition of the preamble to the Constitution, as well the inclusion in miniature of the South African flag in their centre threads.
The R20 banknote will become a "more visible" brown, the R50 banknote will be tinged with purple rather than its current red and the R200 will be a more vibrant orange.
The upgrade, the first major one since Mandela's portrait was included on the country's banknotes in 2012, will also expand the Big Five pictures theme on the back of the banknotes to incorporate family scenarios depicting both parents and offspring.
The security features include watermarks that also feature a pic of the Big Five animals that appear on the banknote. There will also continue to be specific physical characteristics to help visually impaired people differentiate the banknotes from one another.
Animals
SARB is also introducing new animal depictions on some of its coins, including the Cape honey bee replacing the aloe on 10c pieces; and the southern right whale, accompanied by South Africa's national fish, the galjoen, on the R5 coin - replacing the buffalo. The springbok, previously featured on R1 coins, will now be on R2 coins, replacing the kudu.
The R1 coin, meanwhile, will now feature the king protea flower. The bitter aloe will be represented on the 20c while the Knysna turaco (loerie) is on the 50c.
The upgraded banknotes and coins will start being put into circulation this week with the expectation that most South Africans will come into contact with the full range of upgraded currency from June onwards. Existing banknotes and coins will continue to remain legal tender and can be used alongside the upgraded banknotes.
The bank said it did not want to overwhelm society with too many changes, which explained why the core features – such as the portrait of Mandela and the Big Five depictions, sizes and denomination mix – remain the same.
In terms of tactile marks to help visually impaired people tell the difference between banknotes, the bank said that while a "lot of people aren't aware of this", there had always been tactile marks to help them differentiate between denominations.
Independence
"We've enhanced this feature and consulted with organisations like Blind SA. When we interviewed visually impaired people, they say this feature has given them the independence to participate in the economy."
The bank said the banknotes were also seen as a "window into our country", adding they should be able to tell the "South African story" in "many different ways".
"Whether it is about our constitutional democracy or who was our first democratically elected president. And from a tourism economy point of view, the Big Five."
The bank also uses a method called "look, feel and tilt" to establish that money is legitimate currency.
South Africans will be able to see the Big Five watermark on both sides of the banknotes and when they tilt the banknote, they will see word SARB and denomination on each banknote. They will also be able to "feel" the raised print on Madiba's face.
Reserve Bank governor Lesetja Kganyago's signature will also be visible and every banknote will maintain its own unique serial number.
"Don't ask for an additional autograph on the banknotes. It is there," the governor quipped at the launch of the currency.
South Africa's 11 official languages will also be represented on the various banknotes and coins.
Since 2012 there have been some minor tweaks to the banknotes. In 2018, during Mandela's centenary celebrations, notes featured a picture of his homes in Soweto and the Eastern Cape, as well as the place of his arrest in Howick.-Fin24
Comments
Namibian Sun
No comments have been left on this article