Bank of Namibia to issue new banknote for 30th Independence celebration

Bank of Namibia is set introduce a new banknote in commemoration of the country's 30th Independence anniversary celebration on the 21 March 2020, but said it will not reveal more details at this stage.

Bank of Namibia Communication and Media Liaison Officer Fillemon Nangonya confirmed to Nampa on Friday that, the statement issued by the Bank on Thursday on its social media and website is authentic, but more details will be revealed on the day of the launch because there are few things the bank is still working on.

We will issue another media statement when the right day comes, because right now we still have a few things to iron out. Then we can announce which note and coins we are going to use and so on but for now, I can't reveal much, said Nangonya.

Bank of Namibia issued a statement on Thursday on it media social media and website through its Strategic Communications and Financial Sector Director Emma Haiyambo who said that, the Bank is mandated by the Bank of Namibia Act number 15 of 1997 to issue banknotes and coins as legal tender in Namibia.

The issuance of commemorative banknotes is common practices among banks all over the world, commemorative banknotes and coins are normally issued by central banks to commemorate national events which are deemed significant to a country or a central bank. Namibia's currency symbolises independence, national pride and national heritage reads the statement.

It added that over the years the bank has issued banknotes and coins, and it will continue to execute the task of national banknotes production in the manner in which costs are fully absorbed by revenue.

Source: Namibia Press Agency