Maria David
THE Bank of Namibia (BoN) officially unveiled re-imagined banknotes and coins on Wednesday evening.
In a significant change to the nation’s currency, the central bank also introduced a new 20-cent coin and announced the phasing out of the 5-cent coin.
President Netumbo Nandi-Ndaitwah said this historic milestone solidified the newfound sovereignty and transformed Namibia into a nation that could proudly declare its economic independence through its own currency, the Namibian Dollar.
Photo: Bank of Namibia (BoN)
Nandi-Ndaitwah made the remarks during the 35th-anniversary celebration of the Bank of Namibia, an occasion that also marked the launch of Namibia’s upgraded banknote and new coinage series.
According to Nandi-Ndaitwah, central banks are renowned for trust and integrity, not just the supply of banknotes and coins.
She indicated that the Bank of Namibia is entrusted not only with improving access to affordable financial services but also with promoting financial inclusion and supporting economic growth.
“Over the years, we have seen the Bank drive its Digital Transformation Agenda aimed at democratising financial services, coupled with enhancing efficiencies and improving service delivery,” she said.
She added that the banknotes and coins have been aligned with international best practices, as evidenced by the adjustments made to the sizes and materials.
The President explained that the new design aims not only to improve durability but also to ensure that the currency remains modern, practical, and in line with global standards.
Further, Nandi-Ndaitwah said each note remains a powerful national symbol, representing the collective spirit of courage, sacrifice, and resilience that defines the journey as a nation. Moreover, from an inclusivity perspective, the upgraded banknotes incorporate enhanced features designed to better support visually impaired and partially sighted members of society.
“Over the past thirty-five years, the Bank has intentionally cultivated this trust through prudent monetary policy, maintaining price stability, and ensuring that our currency serves as a reliable store of value and medium of exchange,” she added.
Nandi-Ndaitwah indicated that currency is not just a national symbol. Currency plays an important role in facilitating trade and commerce, attracting investment, and driving economic growth and development.
She stressed that the upgraded banknotes continue to honour Namibian heroes—Kaptein Hendrik Witbooi, a distinguished pioneer and stalwart in the fight against colonial oppression, and the late Founding President and Father of the Namibian Nation, Sam Shafiishuna Nujoma.
The President emphasised that the Namibian Dollar is stable, fosters public confidence in government policies, and provides ordinary Namibians with both opportunities and access to the formal banking sector.
Nandi-Ndaitwah said that it is important that when the country’s money retains its value, Namibians can save, invest, and engage in the formal banking sector with confidence.
