Namibia: Nujoma On New Notes 'For Free'

REPLACING Kaptein Hendrik Witbooi with Founding President Sam Nujoma on the N$10 and N$20 notes won't cost the Bank of Namibia (BoN) a cent, the central bank said yesterday.

The BoN had to print a new series of all banknotes anyway to ensure that there will be enough currency in the country for the next three years, Ndangi Katoma, director of strategic communications and financial sector development at the bank, said. It will pay N$154 million for the new series which has also been upgraded with enhanced security measures.

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