Cash Economy

Because the informal sector is largely unbanked and therefore almost entirely cash based, wide recognition and acceptance of coins and banknotes are crucial to its effective operation. So the Reserve Bank announced it would sync the launch of the new banknotes with national road shows, taking samples of the new notes to “retail malls, transporta-tion hubs, and pension pay points in urban and rural areas of the country’s nine provinces.”

We want to reach every South African through this commu-nication campaign. It is our responsibility as the Reserve Bank to ptotect the credibility of the South Africa currency. This can only be done by maki-ng sure that the public know their money and its distinct features really well.

-Hlengani Mathebula,

Head of the South African Reserve Bank’s Group Strategy and Communication Department.

Online and social media promot-ions detailed the appearance of the new cash and also urged a hands-on expeeience to its new users: “Members of the public are encouraged to continue to LOOK, FEEL and TILT the bank-notes to check for a combination of security features,” the central bank’s website declaims.

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