‘Randela’ release for Madiba centenary

MORE than 400 million banknotes and coins bearing the face of Nelson Mandela are being released to commemorate his centenary.

The SA Reserve Bank (Sarb) yesterday said the first batch had been released and more would be released for the next three months.

Speaking at the launch at Freedom Park, Sarb Governor Lesetja Kganyago said: “Nelson Mandela’s light has touched all of us. South Africans from all walks of life, rural and urban.

“What could be more fitting than to commemorate his life through an instrument that we all use every day?

“Utata represents the best version of ourselves as South Africans and there is no more appropriate an occasion than his birthday centenary to honour all that he represents with these commemorative banknotes and the R5 coin.”

Among the guests were Ndileka Mandela and reserve bank governors from Botswana and Lesotho.

“There is such a rich history to the story of Nelson Mandela, as told in his own words in his book Long Walk to Freedom, that the Sarb has had to use our full range of bank notes as well as a commemorative R5 circulation coin,” said Kganyago.

“The banknotes highlight (former) president Mandela’s historical journey, from the rolling hills of the Eastern Cape to Soweto, to Howick, to Robben Island, and to the Union Buildings.”

He said the use of cash remained high despite the advent of digital transactions, mobile money, and cryptocurrencies. “The value of cash in circulation amounts to just over R140 billion.”

He said that the demand was growing. – African News Agency (ANA)