Bank of Namibia launches modified N$100 banknote
Safeguarding national values
The modified note bears the signature of the incumbent governor, aligning with international best practices to enhance security measures.
Bank of Namibia (BoN) governor Johannes !Gawaxab unveiled a modified N$100 banknote last Thursday. The launch, held in Lüderitz, underscored the commitment of the central bank to fortify the integrity and security of Namibian currency."As I stand before you to officiate the launch of this modified N$100 banknote, I do so with a profound sense of humility, responsibility and privilege," he said. He explained the symbolic essence of the new banknote, highlighting its role in safeguarding national values and advancing a more inclusive and prosperous future.
The modified note bears the signature of the incumbent governor, aligning with international best practices to enhance security measures. "Banknotes should bear the signature of the sitting governor as a level one security feature and as a public recognition feature when they are replenished or when a new series is issued," !Gawaxab said.
Minor upgrades
The launch follows a comprehensive review initiated by BoN in 2022, which identified the necessity for minor upgrades to the existing banknote series and a complete overhaul of the coin series. !Gawaxab outlined the ambitious project, stating: "The new series will not only bolster the resilience, confidence, and integrity of our currency, but will also improve the durability of our banknotes".
He emphasised the incorporation of the latest security features to thwart counterfeiting attempts in an era of technological advancements.
Furthermore, the governor announced plans for the roll-out of the upgraded Namibian currency series in 2025, including new coins for the first time since 1993. This strategic move aims to deter illicit activities targeting the nation's currency. He also issued a stern warning: "To those who are trying to take advantage of our money, trying to photocopy our money, we will make it difficult for them".
The modified N$100 banknote, bearing the updated signature of the governor and the year of print as the only key changes, maintains all other security features. The governor reassured the public that "all the other notes are still valid and are continuing as they should be".
"So, if you've got any N$100 banknote signed by other previous governors, it's still valid."