Image: Sowetan

Former South African President Nelson Mandela.

At a presentation at the SA Reserve Bank, along with the bank’s governor Gill Marcus and Finance Minister Pravin Gordhan Zuma said the use of Mandela’s image was part of the recognition of the former’s role in the fight against apartheid, the liberation of the country and that he was recognized as a leader around the world.

“This humble gesture expresses our gratitude for a life spent in the service of this country,” he said.

Saturday’s date marks the 22nd anniversary of the release of Mandela after he spent 27 years in jail.

Marcus said the new notes would have enhanced security features, that they would be easier for blind or partially sighted people to identify and would be machine-readable.

She pointed out that banknotes were only second in importance to a country’s national flag in importance.

Gordhan recalled where each of them spent the day when Mandela was released – Zuma was in Zimbabwe, Marcus in London, and himself in an underground meeting – “…shows how far we have come as a country.”

Marcus apologized for the confusion caused by the somewhat cryptic media invitation sent earlier this week about the press conference saying there was no intention to mislead. The markets went into a spin on Friday when the Bank sent out invitations to the announcement, with the rand falling against the US dollar.

“It just shows that we don’t always have to present bad news,” she said.

The current banknotes that depict the big five wild animals would continue as legal tender until they would be replaced by the new design at a date to be announced.

The new banknotes would have similar dimensions to the current notes, Marcus said.