The Bank of Namibia (BoN) has announced plans to launch a new series of banknotes and coins, with the official release slated for June 2025.
The announcement was made on Wednesday by BoN Governor Johannes !Gawaxab during the launch of the N$60 Hage Geingob commemorative banknote.
He said the new currency series will feature advanced security enhancements, ensuring that both banknotes and coins remain modern, resilient and secure.
“This proactive approach reflects the Bank’s commitment to innovation, resilience, and security in its financial system and ensures that our currency remains a robust and reliable symbol of our nation’s identity and economic strength,” !Gawaxab said.
He said the current Namibian banknote series has been in circulation since 2012 and the coins have never been upgraded since their first issuance in 1993.
According to !Gawaxab, a review every six to eight years is required to maintain currency security, durability and cost-effectiveness.
“The need for the Bank to undertake a minor upgrade on the current banknote series and a complete overhaul of the coin series has been identified. In terms of banknotes, it became imperative to enhance their security features to remain abreast of technological advancements while protecting the currency against counterfeiting. For the coins, the objective is to modernise the current coin series, allowing for the incorporation of state-of-the-art security features,” he said.
In addition to improving security, the coin review is also aimed at mitigating negative seigniorage—a situation where the production cost of coins exceeds their face value.
Rising metal prices have contributed to this issue, making it essential to address resource optimisation and sustain the efficiency of Namibia’s currency system.
Namibia’s transition from using the South African Rand to adopting the Namibia Dollar in 1993 was a defining moment in the country’s financial history.
The upcoming currency series represents another major step in ensuring the integrity and sustainability of the national currency.
