Namibia: Bon Launches Modified N$100 Note

The Bank of Namibia (BoN) has launched a modified N$100 note that now bears the signature of governor Johannes !Gawaxab.

According to !Gawaxab, the change is one of the key level one security features.

"This change of the governor's signature and the year of print are the only key changes effected on the modified N$100 banknote denomination, all other security features remain the same," said !Gawaxab.

He added that the public should use the 'look, feel, tilt' principle to validate the authenticity of the Namibian banknotes.

Additionally, !Gawaxab said although there is global interest in digital currency, physical cash is a preferred payment method. "Last year, the bank carried out a Consumer Payments Choice and Behaviour Survey, which revealed that cash remains the most preferred payment method. It is evident from this that many of our people continue to use cash as the primary form of payment in settling their transactions," said !Gawaxab.

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