Earlier this year, the Central Bank of Swaziland (CBS) – a country on the South-Eastern coast of Africa – announced a major overhaul to their currency. This month, CBS began the rollout of the new banknotes, starting with the E100 note.
The change to the currency comes as counterfeiting worldwide becomes easier to effectuate. Colour copiers, scanners and digital imaging programming all contribute to a rising ease of counterfeiting, causing central banks around the world to enhance their banknotes with high-tech security features.
The case is no different in Swaziland. The new banknote series – which will see new E10, E20, E50, E100 and E200 notes – will increase the quality of the banknotes and add more features to prevent counterfeiting.
“Banknote durability and security technology has advanced significantly since the issuing of the current series of notes in 1999,” said Governor Martin Dlamini in a press statement in April. “The Central Bank of Swaziland takes pride in its responsibility to provide high quality banknotes and ensuring public confidence in our money by minimising counterfeiting. We have spared no effort in making the new series of notes as durable and as secure as possible.”
As is the case when many new banknotes are introduced, a big part of the new currency launch in Swaziland is a public education initiative. Posters, flyers and other educational material will be produced by the CBS and put on public display at public institutions such as banks, post offices, and hospitals in order to ensure the public knows what security features to look for on the new notes.
This is the first currency overhaul Swaziland has undertaken in over ten years. Their last series was introduced in 1999.
Though old banknotes will still be accepted as legal tender for now, the CBS says they expect to phase out the old series gradually.