On (04th May 2023), the South African Reserve Bank (SARB) introduced upgraded banknotes and coins into the South African market paying tribute to South Africa’s first democratically elected president, Nelson Mandela, with his portrait retained on the front of the banknotes and the Big 5 animals illustrated at the back.
South Africa is well known for its mega diversity, which has secured it a spot among the world’s top 10 for its rich plant species.
The theme of the coin series is deep ecology, which acknowledges the interconnectedness of living organisms as an integral part of the environment.
A statement from the SARB said the upgraded banknotes and coin series have enhanced security features and new designs. The broad themes for the upgraded banknotes remain
the same as the current banknotes, while the theme for the coin is deep ecology.
Banknotes are refreshed in intervals of 6 to 8 years and coin in intervals of 20 to 30 years.
“The denominations will be introduced incrementally.”