Reserve Bank announces Mandela bank notes
The South African Reserve Bank has announced that a new series of bank notes carrying the portrait of former President and anti-apartheid icon Nelson Mandela will be introduced into circulation later this year.
President Jacob Zuma along with Reserve Bank Governor Gill Marcus and Minister of Finance Pravin Gordhan made the announcement on Saturday, 11 February 2012, which coincided with the 22nd anniversary of the release of Mandela from prison by the apartheid government.
“It is a befitting tribute to a man who became a symbol of this country’s struggle for freedom, human rights and democracy,” Zuma said.
Minister Gordhan claimed that this “shows how far we have come as a country.” Gordhan added that one of the main reasons for the decision was to ensure that the current and future generations remember the icon that Nelson Mandela was.
The Reserve Bank introduces a new series of bank notes every 7-10 years to prevent counterfeiting.
Governor Marcus explained that the notes will have similar dimensions to the existing bank notes and that the new series will have the same currency denominations as the current set of notes.
The Governor also stressed that the current notes in circulation are still legal tender, until they are phased out once the new notes are introduced into circulation during the course of the year.
In his closing remarks President Zuma added, “With this humble gesture, we are expressing our deep gratitude as the South African people, to a life spent in service of the people of this country and in the cause of humanity worldwide.”
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