Home » Business » BoB introduces new coins

botswana-coinsHead of Communications at the Bank of Botswana, Andrew Sesinyi has announced that the Central Bank will introduce a new family of coin in the first quarter of 2014.

The introduction of the new coin follows a comprehensive review of the national currency, in this case Botswana coin.

This is in line with international norms where currency is reviewed and updated periodically to take account of latest technology trends and security features.

“Indeed, in designing and minting the new family of coin, the Bank accessed the latest technology in the industry with a view to producing good quality coin.”

The new family of coin has retained the seven denominations; which are; 5 Pula, 2 Pula, 1 Pula, 50 thebe, 25 thebe, 10 thebe and 5 thebe.

The detailed shapes and features of the coin will be published shortly in posters and related media he said in a statement.

The current coin will be exchanged for new coin and/or bank notes at commercial banks over a period of six (6) months following the launch of new coin.

“What will then be old coin will be demonetised and exchangeable for equivalent value only at the Bank of Botswana in Gaborone and Francistown for a period of five (5) years.

Members of the public are requested to familiarise themselves with the features of the new coin, once they are in circulation,” he said.

Sesinyi added that the exchange to new coins will not affect existing monetary value.



2 Responses to “BoB introduces new coins”

  1. Matilda Sebina 2014/01/18

    Wow, very modernistic! I loveee

Leave a Reply

You must be logged in to post a comment.