Bank of Namibia to launch coin upgrade today

The Bank of Namibia is set to launch a new coin series next week, the first update since the country’s initial coins were minted 32 years ago. The central bank announced the plan in March, signaling a move to refresh the nation’s currency.The updated coins will debut on Wednesday, 23 July, under the theme “Our Currency, Our Heritage, Our Pride - Meet the next generation of the Namibian Dollar.” BoN Governor Johannes !Gawaxab explained the need for the upgrade, stating, “Our coins have never been upgraded since their first issuance in 1993. As per policy and industry best practice, a review should take place every 6-8 years, which is essential to ensure currency security, durability, and cost-effectiveness. Upgrading security features helps to prevent counterfeiting, while technological updates maintain competitiveness.”The Namibian Dollar was introduced on 15 September 1993, with the first banknotes issued in N$10, N$50, and N$100 denominations. The N$20 and N$200 notes followed in 1996. Coins in 5, 10, and 50 cents, as well as N$1 and N$5, were released in December 1993. Initially, all Namibian banknotes featured Kaptein Hendrik Witbooi, a key figure in resisting German colonial rule. In May 2012, a new banknote series retained Witbooi’s portrait for most denominations, but the N$10 and N$20 notes introduced Dr. Sam Nujoma, Namibia’s founding president.In 2020, to mark 30 years of independence, the Bank of Namibia issued a commemorative N$30 polymer banknote themed “3 Decades of Peace and Stability,” highlighting the smooth transition of power among the country’s three presidents since independence.

Bank of Namibia to launch coin upgrade today

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Republikein 2025-07-25

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Bank of Namibia to launch coin upgrade today

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