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S. Africa to launch banknotes in Mandela's remembrance

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The South African Reserve Bank (SARB) said on Sunday it will launch a set of commemorative banknotes in honor of what would have been Nelson Mandela's centenary.

The late South African President Nelson Mandela was born in July 18, 1918.

In a statement, the central bank said it will release 10, 20, 50, 100 and 200 rand denominations as part of Mandela's centenary celebrations.

"Nelson Mandela represented the best version of ourselves as South Africans," SARB governor Lesetja Kganyago said.

"We unveiled the current Mandela series of banknotes in 2012 to honor him. While preserving the value of money is our main mandate, our purpose is to be a bastion of institutional strength, contributing to a stable and prosperous economy that serves the well-being of all South Africans, and guided in part by Madiba's values," he said.

The South African Mint, a subsidiary of the SARB, will also issue a new 5 rand coin celebrating Mandela's centenary.

The new banknotes and coins will be released on July 18, 2018.

The central bank said the new and old currencies will continue circulating together.

Mandela was a revered world icon for his reconciliatory stance and his fight for the county's democracy and social justice.

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