New banknotes to honour Madiba's centenary

The South African Reserve Bank (SARB) has announced that it will issue a set of commemorative banknotes to honour the centenary of former President Nelson Mandela.

Madiba was born on 18 July 1918 and a number of events have been planned to celebrate his centenary.

According to the SARB, the commemorative notes will cover all denominations – R10, R20, R50, R100 and R200.

In addition, the South African Mint, a subsidiary of the SARB, will issue a new R5 circulation coin celebrating Mandela's birth centenary.

“The existing Mandela series of banknotes as well as the existing R5 coin in circulation will remain legal tender and will continue to be issued.This means that the new commemorative banknotes and coin will circulate alongside the existing banknotes and coin,” said SARB.

It expects the commemorative banknotes and coins to be introduced into circulation from 18 July.

Further details on the commemorative notes and coins will be communicated to the public closer to the time.

The current banknotes that are in circulation that bear the face of the former statesman were unveiled in his honour in 2012.

“Nelson Mandela represented the best version of ourselves as South Africans. While preserving the value of money is our main mandate, our purpose is to be a bastion of institutional strength, contributing to a stable and prosperous economy that serves the well-being of all South Africans, and guided in part by Madiba's values,” said SARB Governor Lesetja Kganyago.