Friday, July 19, 2024

New family of banknotes comes into circulation

Bank of Botswana is expected to introduce a new family of banknotes this month following a comprehensive review of the current banknotes in order to bring them in line with current trends.

In the development of the new banknotes, the Bank has used the latest technology in banknote design that incorporates the latest security features.
In addition to the current denomination structure comprising P10, P20, P50 and P100, the new P200 banknote will be introduced.

The P10 banknote retains the green colour, albeit toned down and the rampant zebra watermark. The portrait of former President Mogae is replaced by that of President Lt General Ian Khama. On the reverse side, the picture of the national assembly building is retained.

The P20 banknote retains the current red colour, albeit toned down and the rampant zebra watermark. The portrait of the composer of the national anthem, Dr Kgalemang T Motsete, is retained. Similarly, the picture of the mining installation on the reverse side is retained.

The banknote retains the current brown colour and the portrait of Sir Seretse Khama as the founding President. On the reverse side, the Okavango Delta swamps, the man on a boat and the fish eagle are retained. The rampant zebra watermark is also retained.

The P100 banknote retains the blue colour, the rampant zebra watermark and the portrait of the three chiefs. On the reverse side, the open pit diamond mine and the lady examining a diamond are retained; some artwork has been introduced for a more modern appearance.

The new P200 banknote is purple in colour with the rampant zebra watermark. The portrait in the front of the banknote is an art work of a woman teaching pupils. The concept is intended to underscore the 3
contribution of women in the country’s development through education; it can also be interpreted in other ways, such as the important social role played by mothers in nation building (Go ruta mosadi ke go ruta setshaba).
On the reverse side, there is a picture of a herd of zebras at a waterhole. It is important that members of the public familiarise themselves with the new banknote security features when they (banknotes) are issued. The public is also requested to be vigilant in ensuring that only genuine banknotes are in circulation or in their possession at all times.

Bank of Botswana stated that the existing banknotes will be withdrawn from circulation when the new banknotes are introduced.

The public will be required to exchange what would be the old banknotes for equivalent value of new banknotes at designated places, such as commercial banks, Botswana Savings Bank (BSB) outlets and Botswana Building Society (BBS) branches and offices countrywide over a period of three months.

After the three months period, what will then be old banknotes will be exchanged for new ones only at the Bank of Botswana banking halls in Gaborone and Francistown, for a period of five years to December 31, 2014. After December 31, 2014, all old banknotes will be demonetised and cease to be legal tender.


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