Costly mistake with defective R100 notes

2012-05-20 17:34

Johannesburg - The Reserve Bank has to shred more than 3.6 million R100 notes after a botch-up with serial numbers, the Sunday Times reports.

The bills, printed in Sweden, have the same serial numbers as a batch printed locally, the report said. 

In addition to that, the notes printed in Sweden are neither the right colour nor size - coming up short by about a millimetre - which poses problems for automated counting machines.

South Africa is redesigning all of its bank notes this year to bear a portrait of first post-apartheid president Nelson Mandela.

The backs of the new bills will retain pictures of the Big Five.

The R100 note has a buffalo on the back.

  • taariq.janodien - 2012-05-20 17:38

    I'd be more than happy to help get rid of the notes for free.

      Ted - 2012-05-20 17:49

      I will form a BBBEE JV with you for the service.

      Ray - 2012-05-20 19:00

      Do you think they will really get shredded or "redleployed"

      ivan.frantz.3 - 2012-05-20 19:40

      Dont shred it, donate the money to the poor, it will be a useful deed, and minimise the loss ! They wont mind incorrect serial numbers ....

      Squeegee - 2012-05-20 22:44

      OK, before everyone has a baby.. printing mistakes are common. Almost as common as the mistakes within the ANC government.

      Rob - 2012-05-21 07:30

      The picture above says it all!!!

      Mark - 2012-05-21 11:04

      @Rob - Brilliant !!!!

      shudusO - 2012-05-21 18:21

      Soon there will be a Tender to shred them all...wait and the person who will get the Tender won't finish they will need someone to investigate why and later try and get another Contractor

  • Roann - 2012-05-20 17:54

    I do not like the fact that a person's face is on our notes. It should have stayed neutral. Sure Mandela is an icon and did very well but look where we are now???

      Andrew - 2012-05-20 18:54

      I personally like the idea...van Riebeeck's face was on the notes back in the day.

      jimzimbo - 2012-05-20 19:13

      This is such an insult to the current custonians of the ANC.....hang your collective heads in shame. On top of this you Zuma have the GAUL to talk about stupid contracdictory idiot!!!

      dewaldmontgomery - 2012-05-21 06:10

      How is it an insult to Madiba? I think it's meant as an insult to Zuma. He's much more of a pathetic leader.

      Jarryd - 2012-05-21 14:48

      Indeed, I prefer the neutrality of the big 5(and no faces). I would have preferred the money spent on changing notes to be spent on something more useful..(education/infrastructure/endless_list_of_better_things_to spend_money_on).

  • ntjeke.wilfred - 2012-05-20 17:56

    R100 bank note with shower.

  • mrp721 - 2012-05-20 17:57

    I can't understand why Sweden needs to print our monetary notes when we can do it locally...

      keesbus - 2012-05-20 18:20

      jaaaa, somebody gets a kick back again!!!!!!!!!

      jimzimbo - 2012-05-20 18:22

      Because "we" cannot be trusted??

      Nicolaas - 2012-05-20 19:47

      The only reason why they print it in Sweden is because if they print it here, even the notes will be corrupt!

      dewaldmontgomery - 2012-05-21 06:11

      Because the cronies here will steal the plates and copy the notes. Classic ANC : The local whites are evil. Let's use the European whites.

  • Sharon - 2012-05-20 17:58

    Why are they printing our money in Sweden? Do we have a Swedish Connection?

      Lacrimose - 2012-05-20 19:34

      Swedish governments, institutions and private companies have been funding ANC for aeons. Long before the demise of apartheid

      Koos - 2012-05-21 06:37

      Everything from government have Swedish connections. Armsdeal, E-Tolls, Fake bank notes. Who made the mistake? ancESTOR or his Swedish cousin? Why do we print it in Swedenwhen we DO print it local???? tender corruption???

      Martin - 2012-05-21 12:21

      saab prints our money and some for themselves too, that is while they not making us jets and toll booms

  • Roann - 2012-05-20 17:59

    the new notes also don't look as good as the current ones.

  • louis.langenhoven - 2012-05-20 17:59

    how on earth do you screw up something like this?- SURELY there are very specific standards that have to be specified and communicated- you are not printing a weekly free newspaper for heavens sake!

      jimzimbo - 2012-05-20 19:02

      How on earth?? Simple Louis...allow the ANC government to organise it..

      louis.langenhoven - 2012-05-20 19:28 seems you are spot on jimzimbo

  • Mewik - 2012-05-20 18:00

    Why is Sweden now printing our money? I assume it an e-toll type scenario where for every 100 they print they get to keep 50? Clearly we could be printing them here, so much for job creation and Proudly South African. Well done ANC

      Cecile - 2012-05-20 18:13

      I agree! Must be someone collecting the tender fee and in the meantime the Banknote Co of SA situated in Pta North could, and are supposed to print the notes.

      Mewik - 2012-05-20 18:20

      First the arms deal saga, then the e-toll scam and now it turns out Sweden is printing our money?? I'm no CSI but I smell a rat here, or a vrot snoek.

      Koos - 2012-05-21 06:39

      'n dooie ancESTOR of dalk The Spear of the nation?

  • louis.langenhoven - 2012-05-20 18:01

    I would like to know what the cost involved in this f-up is and who is responsible and what is being done about the guilty party?

      jimzimbo - 2012-05-20 19:05

      Yet again Louis we will never for the guilty party, ha ha forget it. Someone's d*ck is hanging out in a j'burg art gallery right now....perhaps there's a connection here??

  • haynerob - 2012-05-20 18:06

    They should have rather used The Spear on the front with the Prez's big 6 on the back!

      Adam - 2012-05-20 18:15

      Or some anc cadavers...sorry cadres, cant get used to the commie terms.

      Mewik - 2012-05-20 18:22

      LOL! Comment of the day right there! Well played :)

  • Adam - 2012-05-20 18:07

    If only the cadres became cadavers, they are almost there.

  • Sonja - 2012-05-20 18:14

    Who won the tender to shred the notes. ????

      Mewik - 2012-05-20 18:25

      They've probably been allocated to Juliass' farm to be used as cow-feed.

  • Hermann - 2012-05-20 18:16

    Swedish Economic Empowerment. I wonder what the kick back was.

      Koos - 2012-05-21 06:40

      Volvo's XC90?

  • Aaron - 2012-05-20 18:21

    You couldn't make it up if you tried. Whoever was responsible for commissioning the printing of millions of notes without checking a sample at some point in the process should be prosecuted for wastage of money on such a scale as to constitute fraud.

      jimzimbo - 2012-05-20 19:06

      Viva viva viva...anc

      Lacrimose - 2012-05-20 19:25

      The better question to ask is why, when Sweden has had the contract for more than a year to print our R100 notes, someone here decided to start printing R100 notes too

      dewaldmontgomery - 2012-05-21 06:12

      Viva Biko, who wasn't ANC!

  • stanton.clarke - 2012-05-20 18:28

    Sjoe, thank goodness the big 5 will be on the back. Can you imagine a picture of Zuma on the back?

      Susan - 2012-05-21 10:43

      The picture from the gallery on the back..

  • Khaya Miya-Sikhundla - 2012-05-20 18:29

    why r we printing our money in Sweden?

      geoffrey.toomey - 2012-05-20 18:47

      because in SA they put two signatures on the notes!

      Lacrimose - 2012-05-20 19:26

      Why are we printing in South Africa when Sweden has the contract?

  • George - 2012-05-20 18:31

    I insist the new bank notes bear the image of Zuma. Somehow it more accurately reflects the state of our nation. The Mandela legacy has been flogged to death by the cANCer crowd.

  • Gerda Malherbe - 2012-05-20 18:37

    I thought Sweden was one of the least corrupt nations. Until they started hanging out with the ANC, that is. The Swedes are part of very sinister dealings in SA. Very strange

  • MefrouwPoefparra - 2012-05-20 18:40

    The AA cadres just waste taxpayer money. Africa. Just can't get it right.

  • Bob - 2012-05-20 18:46

    Why the hell are we printing in Sweden?? If we can't even print our own notes locally, then there is no hope for us. Unless of course, the printing of notes in Sweden was via a tender process, then that answers that question fully!

      Lacrimose - 2012-05-20 19:00

      jimzimbo - 2012-05-20 19:07

      Spot on (the money) Bob!!

      Keith - 2012-05-21 11:16

      No tender mate the governor of the reserve bank got his commission for granting the contract.Dont you know the system and inside the system there is another system??

  • goyougoodthing - 2012-05-20 19:00

    Why is Sweden printing our notes, I know the reserve bank is private but this is simply sending real money overseas - is this another money laundering scam?

  • standvm.nel - 2012-05-20 19:04

    Who is going to pay for this error?

      Erna - 2012-05-20 22:33

      I'll give one clue - its not the Swedes.

  • Fhedzani Sadiki - 2012-05-20 19:08

    Simple Economics, the Swedes can probably print the notes cheaper than we do. I once had a client who use to send their bills to the UK to be printed overnight, flown back to South Africa the next day. And it was quicker and cheaper...

      Lacrimose - 2012-05-20 19:21

      In this case not true. We had to outsource to Sweden at greater cost due to failures of the SA Bank Note Company (still in business btw and about to print all the new 'Madiba' notes). So whether it is done here on in Sweden, somewhere someone can't get it right.

  • Trevor - 2012-05-20 19:34

    shred's under their beds in the kraal

  • shamier.chandley - 2012-05-20 19:39

    thats not madiba on those notes...its slu from isidingo but with short hair...

  • Mazimba - 2012-05-20 19:50

    Now I see why the ANC wanted the info bill...

  • Johann - 2012-05-20 19:53

    They must print the spear of the nation with his msshine wham.

  • Shahied - 2012-05-20 20:22

    Nw y is Vavi so quiet,we're is the job creation in S.A.Well done Cosatu for keepin ur mouth shut on this issue.

  • Faizie - 2012-05-20 20:25

    Remind me again why we put up with this. Oh yes Im an african!!!!!!!!!!!!!!!!!!!

  • Vince.York - 2012-05-20 20:45

    We assume that they are eventually brought to SA in ministers un-diplomatic handbags in privately hired charter jets @ tax payers expense - like other peeved instances where they are too embarrassed to display the toys they purchased.

  • glen.e.huysamer - 2012-05-20 23:31

    The real question here is why is South Africa printing money in Sweden when we have the expertise to do it here. It seems like another Sanral type scam, come Austria e-tolling backhand cadre deal on the go here. If it had to be done abraod, why not with our Chinese friends, surely they are cheaper, what is the final bill going to be, R200 for every R100 note and I wonder what SAAB has got to do with all of this.

  • Adolf - 2012-05-21 07:09

    The Swedish seems to be involved in all major f@ckups, e.g. The Arms deal, E-toll, R100.00 notes. Seems to me that some cadres made good contacts whilest in exile in Sweden.

  • Pete - 2012-05-21 09:03

    Spear of zuma will fit

  • EyesEars - 2012-05-21 09:22

    The swedish are milking the sa government and the sa reserve bank are wasting more taxpayer's money. How procurly economical.

  • gailcarolynhayes - 2012-05-21 09:38

    I wonder wher they will now change the name of our currency to Mands instead of Rands?

  • Michael - 2012-05-21 09:42

    best to leave his legacy on the back of a note rather than leave his dedication on the anc

  • Pieter Mulder - 2012-05-21 10:45

    It was planed from the word go to change the pictere back then.

  • Keith - 2012-05-21 11:12

    eish!!!!!!!!! so the white-collar guys can print money and apologise for the defective notes when caught ???? hurry up guys before the time limit runs out eishhhhhhhhhhhhhhhh where is south africa heading to ? Zuma painting, Malema crap, defective notes, what else ?????? where are we heading too???

  • Arthur - 2012-05-21 11:13

    Should have joined them together and sold them as toilet paper - R100 notes soon to be worth about as much.

  • Jacqui - 2012-05-21 12:55

    They can't do a damn thing right.

  • Grant - 2012-05-21 14:08

    MORE MONEY WASTING ON UNNECESSARY THINGS. spend money on road name changes,town names and now money changes. rather use that money to create jobs and better water,tarred roads..

  • Khomotso - 2012-05-21 15:09

    Why get them printed in Sweden to begin with? Y can't they just create jobs here in sa?

  • tinus.v.zyl - 2012-05-21 16:21

    Ive heard that notes have no value until they are released by the reserve bank. So don't know what the fuss is about. Secondly, yes printing mistakes happen. Its only 36000 notes. It surely cant be so costly. What I do have a problem with is what they want to print on it. Mandela is seen as the Father of the New South Africa. Father of the ANC. With all the political rubbish going on in the country, they want to put him on the notes to remind the people of South Africa that he freed them. Almost 20 years later? They could've done it much sooner. I think this is more a message they trying to get across to the people to get in more votes for the ANC prior to the upcoming election. Thirdly, Why do they outsource business after initiatives like Proudly South African & Local is lekker? Even if it costs more to print in South Africa, rather print here than elsewhere because the money gets circulated in SOUTH AFRICA. Not to another Swede company making money out of our stupid government again (E-tolls). The masses needs to know how the government operates. If they aren't doing a good job, get them out. They indirectly have our future and well being in their hands, and we have the power to keep them there or get rid of them. ANC does have a very big say what the reserve bank does and operates. Clearly shown by the decision to print Mandela in a Swedish printing operator. Why not keep it neutral and unpolitical when it comes to what we see on our notes?

  • Waldo - 2012-05-21 17:08

    Why are we printing our bank notes in Sweden and locally. Surely if we are printing some locally we can print all notes locally. Don't we have a huge problem with unemployment in this country. What is wrong with the current design that we have to waste millions on a new design?

  • comurray - 2012-05-22 10:37

    By the way, who foots the bill for this cock-up?? Surely they should be sent back and a refund demanded or destroyed here at the Sweedish manufacturers expence. Maybe the ANC government had no intention of paying for them in the first place hence the cock-up.

  • George Robbertse - 2013-07-07 00:56

    WTF Nothing is done properly in this country the tax payer must pay for this ! you are killing the goose that is laying the golden eggs . If the poor goose is dead there is not even a wish off another egg .Think "pro active" if you can .

  • George Robbertse - 2013-07-07 01:02

    WTF Nothing is done properly in this country , who must pay for all the money down the drain ? the tax payer . The golden goose that lays all the golden eggs . Kill the golden goose ? and no body will have a meal .

  • Annemarie White - 2013-07-07 02:02

    More waste

  • pages:
  • 1