New Madiba notes losing security strips

2013-07-09 00:00

THE Reserve Bank has blamed too much fingering for the dog-eared silver security strips on the new Mandela banknotes.

Hlengani Mathebula, head of strategy and communications at the South African ­Reserve Bank, informed sister paper Beeld in an e-mail that the bank was aware of isolated complaints regarding the security strips on the new, lower-denomination ­banknotes.

He said it was because of over-circulation of these notes.

The new notes have been in circulation for only eight months.

Mathebula said South Africa’s banknotes are made to the highest international security standards.

The bank could not say why the lower-

denomination notes had deteriorated so quickly, to the point that the security strips were coming loose.

The notes are printed by the South African Bank Note Company, which is owned by the Reserve Bank, while a German company reportedly makes the security strips.

The bank’s website describes the strips as being woven into the notes.

Thomas Coetzee, chief operating officer at SA Bank Note Company, yesterday referred all questions to the Bank.

The bank yesterday said it would not ­comment on whether the worn notes would be recalled or whether they will remain in circulation as legal tender.

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24


Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.