Banknote MD in hot water over quality

2010-11-14 22:15
Johannesburg - Disciplinary action is being taken against the managing director of the SA Banknote Company (SABN) Musa Mbhele, the organisation said on Sunday.

"Disciplinary action against the managing director of the SABN is underway after an operational problem was identified," company spokesperson Hlengani Mathebula said in a statement. SABN is a subsidiary, along with the South African Mint, of the SA Reserve Bank.

"Necessary corrective action has been taken to address the problem. An acting MD has been appointed and the SABN’s operations continue to run smoothly."

The Sunday Independent reported that Mbhele had allegedly been suspended and charged in August with failing to comply with quality standards, apparently in connection with the printing of Zambian kwacha and Namibian dollar notes.

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