Khama stays put on the P10 note

The Bank of Botswana (BoB) has full autonomy to decide on whose portrait goes on the P10.00 banknote as it changes the note’s features at its own discretion.

It is only with the endorsement and consent of the Minister of Finance and Economic Development that the central bank can augment features on any of the bank’s notes.

This was revealed by BoB Governor, Moses Pelaelo at the unveiling of the new ‘plastic’ P10.00 bank note expected to start circulating on February 1 2018, contributing to the P2,9 billion currently in circulation.

The new banknote which still bears the portrait of out going President Seretse Khama Ian Khama is made of plastic, a polymer substrate that makes it more durable.

Speaking at the new note’s unveiling at the BoB boardroom in Gaborone recently, Pelaelo said the new note will drastically reduce the bank’s expenses that were associated with the frequency of ordering new notes of the old cotton P10.00 from the printers.

 

Original Article URL: