Share

New banknotes to bear Mandela image

Johannesburg - New South African banknotes will bear the image of former president Nelson Mandela, President Jacob Zuma announced in Pretoria on Saturday.

The notes would make South Africans remember their achievements,

Zuma told reporters at a press briefing attended by dignitaries including SA Reserve Bank Governor Gill Marcus and Finance Minister Pravin Gordhan.

Zuma said the gesture was "a befitting tribute" to Mandela who was a symbol of the country's struggle for freedom, human rights and democracy.

"With this humble gesture, we are expressing our deep gratitude, as the South African people, to a life spent in service of the people of this country and in the cause of humanity worldwide," Zuma said.

The banknotes would make South Africans remember and appreciate their achievements in order to continue the journey towards a more prosperous society, Zuma said.

Saturday marks the 22nd anniversary of Mandela's release from prison.

Marcus said the new notes would enter circulation later in the year.

She said coins would not be affected at this stage.

The current banknotes, that feature the Big 5 animals, had been in circulation since 1992.

Marcus said officials consulted widely on the notes, speaking to a wide range of people including Mandela's former wife Winnie Madikizela-Mandela.

Gordhan said the new notes would "help South Africa to remember Mandela" and "institutionalise the memory of where we come from".

Earlier on Saturday, German international news agency DPA reported lack of details about the nature of the announcement which briefly spooked markets.

The rand tumbled about 2.5% versus the dollar.

"Traders worried that the central bank of Africa's largest economy was about to make a drastic policy or personnel change while markets were closed," DPA said.

However, the Mail and Guardian cited sources suggesting the announcement would likely be of a celebratory nature and possibly related to Mandela.

Following reassuring remarks from bank officials, who indicated that the news would not be about interest rates or resignations, the rand made a quick rebound. 

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.89
+0.2%
Rand - Pound
23.87
+0.1%
Rand - Euro
20.39
+0.2%
Rand - Aus dollar
12.33
+0.1%
Rand - Yen
0.12
+0.1%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders