South Africa upgrades banknotes to thwart counterfeiting
South African Reserve Bank Governor Lesetja Kganyago unveiled upgraded banknotes on Wednesday that will incorporate enhanced security features, including color-changing ink, to prevent counterfeiting.
The notes, which will enter into circulation from May 4, will retain the nation’s first democratically elected president, Nelson Mandela’s portrait on the front. Africa’s so-called Big Five wild animals — rhino, elephant, lion, buffalo and leopard — which respectively adorn the backs of 10 rand ($0.55), 20 rand, 50 rand, 100 rand and 200 rand bills, will now be depicted with their young on the banknotes, with the image varying by denomination.
South African banknotes are refreshed every six to eight years and coins every 20 to 30 years in line with international best practice to combat copying, the central bank said. The existing notes bearing Mandela’s image was issued 11 years ago, while a commemorative series was printed in 2018. Mandela died in 2013.
The current coin series was issued in 1989. New coins, showing the country’s fauna and flora, are also being introduced.
