Namibia introduces new 100 dollar banknote

WINDHOEK, April 5 — Namibia’s central bank governor, Johannes Gawaxab, unveiled the country’s new 100 Namibia dollar banknote on Thursday at a launch ceremony in the southern city of Luderitz.
The new banknote aims to modernize Namibia’s currency and reflects the country’s commitment to financial stability, security and inclusivity. Gawaxab said that while the world is becoming more digital, physical banknotes remain relevant.
The new banknote incorporates advanced features to deter counterfeiting and ensure ease of use for all citizens.
Gawaxab also highlighted an increase in the value of currency in circulation, from 4.9 billion Namibia dollars in 2022 to 5.2 billion in 2023, representing a 7.6 percent increase, the highest ever recorded by the Bank of Namibia. This increase was driven by heightened economic activities in 2023, influenced by factors such as interest rates, political stability, economic growth and inflation.
Last year the central bank carried out a Consumer Payments Choice and Behavior Survey, which revealed that cash remains the most preferred payment method, with an average of 84 percent of respondents in all the towns using it. The Bank of Namibia issues Namibian currency banknotes in denominations of 10, 20, 50, 100 and 200.