SA company could be 'linked' to printing of Zim bond notes

2016-11-28 22:00
A man holds bond notes released by the Reserve Bank Of Zimbabwe in Harare central business centre. (AFP)

A man holds bond notes released by the Reserve Bank Of Zimbabwe in Harare central business centre. (AFP)

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Harare - It's still not clear where Zimbabwe's new bond notes were printed but it's almost certain that the country's bond coins come from South Africa.

A photo circulating on social media shows a bag of freshly-minted coins with a label bearing the words: South African Mint Company. 

See tweet below.

Zimbabwe was due to release 2 million US worth of bond coins into the market Monday, along with 10 million in new bond notes. The release of the coins - announced only on Saturday - came as a surprise to many. The coins are in their highest denomination yet, with each one (supposedly) worth 1 US.

A press report from the Zimbabwe Independent newspaper in October claims that the South African Mint Company has been minting bond coins for Zimbabwe since 2014, when they were first introduced to make it easier for supermarkets to give out change.

Attempts to get confirmation from the company in Centurion were unsuccessful on Monday.

It's not clear where the bond notes were printed. They do not appear to be of top-quality. Locals are complaining that the green colour of the 2-dollar denomination of bond "rubs off". 

The label on the bag of new bond coins says the bag contains 400 coins which weigh 3,830 kg.

Read more on:    zimbabwe  |  southern africa

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