Windhoek: Governor of the Bank of Namibia, Johannes !Gawaxab, on Monday unveiled the modified N.dollar 50 banknote in Windhoek. Local banks were provided with the new note on Monday, and it will enter circulation starting Tuesday. The current N.dollar 50 note will remain legal tender.
According to Namibia Press Agency, !Gawaxab highlighted a 10.7 percent decrease in counterfeit banknotes from 2023 during his keynote address. He emphasized the importance of effective security measures in maintaining public trust and institutional credibility. !Gawaxab noted that secure currency fosters confidence among citizens, which is foundational to economic activity. He described the issuance of secure, high-quality currency as a strategic necessity.
!Gawaxab stated that the Bank of Namibia has previously upgraded the N.dollar 10, N.dollar 20, N.dollar 100, and N.dollar 200 note denominations. “Today, we complete this cycle with the unveiling of the modified N.dollar 50 banknote, which is a proactive response to evolving market demands,” he said. He also announced an upcoming comprehensive review of the national currency, set to launch in three months, emphasizing that regular banknote enhancements are aligned with global best practices.