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| To our suprise: Nelson Mandela is a man that will be honoured through the SA bank notes. (www.news24.com) |
It came to my surprise when I saw the South African notes having changed from the “Big Five” animals to the former President’s image, Nelson Mandela. This is supposed to be a celebration for a country but there are a lot of critics which I seem to agree with.
According to News24.com read more, the rand dropped by 2.5 percent against the dollar. The announcement came as a surprise to many officials as it was said that, there would be an announcement of ‘national importance’ without giving details except that, President Jacob Zuma, Minister of Finance, Pravin Gordhan and Reserve Bank Governor Gill Marcus would be present.
The announcement was made by President Jacob Zuma at the Reserve Bank in Pretoria, the day also being the anniversary of Mandela’s release from prison.
On Sunday Independent the governor commented that “We have changed currency before. It is not a big thing”. The governor’s comments are due to the people’s negative reaction… But do you blame the people. I believe that the changing of the notes should have been announced during the Nation State to emphasise the reasons behind it and for people to expect what is to come.
Comments such as “Everything is called a Mandela something, “South Africa will become Mandelaville”, “This is like play -play money or monopoly money”, were broadcast on the News24 online medium. The thought of thinking about the money being used to buy drugs does bring dishonour to Mandela.
The new design cost an estimation of 2, 5 to 3 million and will be introduced before the end of the year. The Mandela notes will also have newly developed security features. Gill Marcus said so far the R500 note has not been implemented.
Yes, Nelson Mandela is a man of great honour and importance but the way this was done and introduced seemed dodgy. I mean why the secrecy? The Rand also dropped which indicates miscommunication within the government and the market. A publicity campaign could have been done to support the announcement. Perception is always a factor to consider.










