News24

Orania gets own currency

2004-04-28 17:40

Cape Town - The white homeland of Orania on the banks of the Orange River will be launching its own currency in the enclave's community centre on Thursday, to a cautious reception by the Reserve Bank.

The currency will be known as the "Ora" and consists of a range of four denominations - Ora 10, Ora 20, Ora 50 and Ora 100 - Eleanor Lombard, spokesperson for the Orania Movement, said in a statement on Wednesday.

Lombard said that during Thursday's unveiling, special momento packages would be on sale.

"The symbols on the Ora 10 note showed the Afrikaner's history, the Ora 20 note his art, the Ora 50 note his culture and the Ora 100 note depicted Orania," said Lombard.

She said the advantages of the town having its own currency was among others - available cash being replaced with proof of cash and the cash earning interest in the bank; buying power remaining in the community because the currency was only accepted in the town; because the currency could only be spent locally it was safer than cash.

SARB

Meanwhile, Reserve Bank spokesperson Themba Hlengani said the voucher or currency must not resemble the South African bank note, in whole or part.

"For instance, it shouldn't be the same colour or font as any of the South African bank notes," he said.

He said this was regulated in terms of South African Reserve Bank Act of 1989.

Hlengani did not want to comment further, saying that this was the official statement at the moment.