Kaya 959 Reporter
The South African Reserve Bank (SARB) is celebrating the 100th anniversary of its first banknotes.
Tuesday, April 19, 2022, marked the centenary of the first issue.
The banknotes were printed on June 30, 1921, 10 months after the SARB was created.
South Africa had no monetary authority prior to that; however, commercial banks were in charge of creating banknotes for circulation.
Also Read: Quiteria Kekana has passed away
Kaya Biz with Gugulethu Mfuphi spoke to SARB’s Head of the Currency Department Ms Pearl Kgalegi about the significance of this historic milestone.
LISTEN TO THE FULL CONVERSATION HERE:
Kgalegi outlined the transition of the banknotes over the years.
“It is indeed a milestone, 100 years of South African Reserve Bank issuing banknotes, that started back in 1922 on this day, where we were still issuing the pound. In 1961, then we moved to the rand as the currency. “
“That journey as well transitions where we had the motive and the picture of Jan van Riebeck, now we have Nelson Mandela as the main motive of our banknote. This has been a very good transition of where we come from to where we are right now,” said Kgalegi.
The currency of South Africa is a source of national pride, reflecting the country’s cultural past, economic industries, and the Big Five wildlife.
In 1992, SARB introduced the Big Five banknote series, covering the 11 official languages. President Nelson Mandela was showcased on the front of the notes from 2012, with the ‘Big Five’ remaining on the back, reflecting our heritage of freedom & environment. #100SABanknotes pic.twitter.com/FXpOmOIeZP
— SA Reserve Bank (@SAReserveBank) April 19, 2022
READ NEXT: “We just got shot at with AK47s and R5s in Soweto!”- says Nhlanhla Lux



