The SA Reserve Bank (SARB) has unveiled upgraded banknotes and coins that come with enhanced security features and new designs.
During the launch at the Nelson Mandela Foundation on Wednesday, SARB governor Lesetja Kganyago said the banknotes are typically refreshed every six to eight years, while coinage is renewed every 20 to 30 years in accordance with international best practices.
The current Mandela banknote series was issued in 2012, with a commemorative series of banknotes following in 2018, while the current coin series was issued in 1989.
The upgraded currency retains the portrait of the country’s first democratically elected president Nelson Mandela and the Big Five paying tribute to the country’s wildlife.
However, the banknotes now showcase the preamble to the country’s constitution in microtext around Mandela’s portrait, while the country’s flag features prominently on both the front and back of the banknotes.
In addition to the security upgrades, Kganyago said the new currency features a deep ecology theme that highlights the “interconnectedness of living organisms” as a vital part of the ecosystem.
“The banknotes continue to pay tribute to South Africa’s first democratically elected president, Nelson Mandela, with his portrait retained on the front of the banknotes while the Big Five animals are now illustrated as a family on the back.
“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,” said Kganyago.
“The theme of the coin series is deep ecology, which acknowledges the interconnectedness of living organisms as an integral part of the environment.”
Kganyago assured that the reserve bank does not demonetise its currency, meaning previously issued circulation banknotes and coins can still be used alongside the upgraded currency, with no change in their face value.
He encouraged citizens to familiarise themselves with the new currency and use the “look, feel, and tilt” method to authenticate their currency.
“The SARB does not demonetise its currency. All previously issued circulation banknotes and coins can be used as a means of trade together with the upgraded banknotes and coins. All circulation currency maintains its face value.”
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