Allexer Namundjembo
Finance minister Ericah Shafudah says there will come a time when her ministry, in collaboration with the Bank of Namibia (BoN), will seek public inputs on the newly launched coins and banknotes.
The upgraded notes and redesigned coin series went into circulation at the end of September.
Shafudah responded to questions in parliament on Tuesday from Fredrick Shitana, a member of the Affirmative Repositioning (AR), by stating that the new currency is “safe and secure” for use.
Shitana had questioned the removal of the third springbok from the new N$10 note, saying it symbolised the younger generation in the old version.
“The question is, on our old N$10, there are three animals, with one representing the third generation. Just yesterday when I got this N$10, there was something missing. This note no longer represents the young generation. The old one had three animals, with two representing the male, the female, and their child,” said Shitana.
Shitana expressed his concern over the removal of significant symbols from Namibia’s currency.
The currency has already created headaches for consumers. Businesses using vending machines, jackpot machines, parking meters, and money counters are facing compatibility issues, as their systems cannot yet authenticate or dispense the new currency.
Some operators said upgrading a single machine could cost up to N$20 000.
A week earlier, reports indicated that the newly introduced N$30 and N$60 commemorative notes were also causing technical difficulties for businesses.
At that time, BoN confirmed that work is underway to integrate and upgrade vendor systems to ensure full compatibility with the new currency.
Recently, First National Bank (FNB) issued a warning to its customers, informing them that some of its ATMs are not yet ready to accept the upgraded notes.
First National Bank (FNB) warned that its ATMs may reject or delay deposits using the new notes, and advised customers to make their deposits at its branches instead.
This comes as questions about the quality of the new currency come into play. Last week, videos also surfaced showing the new N$5 coin being defaced.
BoN reiterated that such acts are illegal and carry penalties of up to N$50,000 or three years’ imprisonment. BoN had stressed that the upgraded coins and notes meet international standards for durability and security.
Just before the new notes and coins entered circulation, it faced criticism for its look. In August, BoN faced backlash over a social media post referring to the coin as the “Outere Dollar”, a Khoekhoegowab term loosely meaning “give me”.
Critics said the word is derogatory toward the Damara/Nama community. However, BoN maintained that the coin’s design, which shows two hands exchanging coins, was meant to honour commerce and retail, not to endorse the nickname.
BoN in June revealed that the total value of Namibian currency in circulation rose from N$200 million in 1993 to over N$5 billion by June 2025.
