WINDHOEK, Sept. 29 — Namibia‘s cash in circulation grew from 4.7 billion Namibian dollars (about 272 million U.S. dollars) in 2020 to 5.6 billion in 2025, Governor of the Bank of Namibia Johannes Gawaxab said Monday, stressing that physical money remains vital to the economy.
Speaking at the launch of upgraded banknotes and new coins in south-central Namibia, Gawaxab said cash still underpins informal trade, rural communities with limited internet access, and households where every dollar counts.
“Cash is alive, active, and essential,” the governor said, adding that the new banknotes and coins are designed to reinforce trust in the monetary system.
The third series of banknotes and the first fully modernized coins since 1993 feature advanced security elements, including color-shifting inks, microtext, and tactile markings for the visually impaired.
The new 10- and 20-dollar notes are printed on hybrid substrates to boost durability and cut replacement costs, he said. Gawaxab also urged citizens to remain vigilant against rising cybercrime and deepfake scams, encouraging them to verify dubious investment offers with the central bank.
The new notes and coins take legal tender status immediately and will circulate alongside digital payment innovations as Namibia seeks to expand financial inclusion and safeguard confidence in its money. (Xinhua)
