SA outsources printing of R100 notes

2011-07-10 15:59

Johannesburg - The SA National Reserve Bank has outsourced the printing of R8bn worth of R100 notes to a Swedish company, the Sunday Times reported.

This followed a discovery in May last year of a missing security feature in the R100 notes printed by The SA Bank Note Company (SABN).

The missing security feature had resulted from faults with a few of SABN machines.

Insiders told the Sunday Times that the decision to print at the Swedish company, Crane AB, was taken even though the machines had been fixed.

Workers at SABN had been idle and could possibly lose their jobs.

"People come in, sit there, go to their lunch and then go home. we don't even know when production will resume. It seems like the bosses are running away from the problem," one of the workers told the newspaper.

The SABN currently employs more than 500 workers.

Reserve Bank spokesperson Hlengani Mathebula refused to comment on the outsourcing.

"It is not standard practice for central banks to disclose where, how and by whom... currencies (are) produced," he told the newspaper.

  • Juggernaut - 2011-07-11 08:57

    No we can't ...............the new SA slogan

  • Nuck Choris - 2011-07-11 10:58

    Swedish company. Didnt they supply the Grippen. Wonder who got kick backs for this deal.

  • freespirit - 2011-07-11 11:47

    what about the people who may lose their jobs don't they count for anything.It seems that the politicians enjoy these mass national strikes and lots of voting citizens lives being degraded by their way of pushing their own agendas regardsless of what the people need.Is this what they call a better life,for who if i may ask because we the voting citizens of SA are not getting that better life they a shouting about when they need votes.

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