SOUTH AFRICAN CENTRAL BANK RELEASES DESIGNS OF MANDELA BANKNOTES

PRETORIA-- The South African Reserve Bank (SARB) has released the designs of its first commemorative banknote series of democratic South Africa's founding father, Nelson Mandela.

The central bank said Wednesday it had decided to release the designs of the commemorative notes following breaches of the banknotes that cover all denominations -- 10, 20, 50, 100 and 200 Rand.

As part of the preparations for the launch, test packs of the commemorative banknotes were made available to members of the broader cash industry to allow them to make adequate preparations in relation to issues such as adaptions of cash processing and cash dispensing machines, ticketing machines and so forth.

While these test packs were governed by strict confidentiality provisions, it has come to the Reserve Bank's attention that certain breaches have occurred, and as a result some of the designs have been circulating on social media. In order to avoid confusion and unnecessary speculation, the SARB has decided to release all the designs ahead of the official launch scheduled for 13 July 2018.

The bank said more detailed information about the commemorative features of the notes and additional security features would be made available at the time of the official launch.

As part of the celebrations, the South African Mint, a subsidiary of the bank will also be issuing a new commemorative circulation R5 coin, the SARB said.

Source: NAM NEWS NETWORK

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