Counterfeiting of Namibian dollar declines

The Bank of Namibia(BON) has recorded a 10.7% decline in counterfeit banknotes in 2024, a result attributed to enhanced security features and improved public awareness.

The decline is being hailed as a success in the Bank’s ongoing efforts to protect the integrity of Namibia’s legal tender.

!Gawaxab was speaking during the launch of the modified N$50, on Monday, in Windhoek.Over the past three years, four major denominations N$10, N$20, N$100, and N$200 have already been modernised with enhanced security features and improved design elements.

Looking ahead, the Bank announced plans for a comprehensive review of the national currency, set to begin in three months. The review will evaluate the design, security, and functionality of both banknotes and coins.

The modified N$50 banknote carries a new signature of Gawaxab. The Bank emphasized that regular enhancements to currency design are in line with international standards.