Allexer Namundjembo
Bank of Namibia (BoN) governor Ebson Uanguta has urged the public to stop damaging the country’s new coin series.
He said such actions are contributing to their deterioration.
Uanguta said BoN Bank has observed cases where coins, especially the N$5, are being subjected to excessive force.
“We have seen it, particularly for the N$5 that is disintegrating, and people sometimes want to subject these coins to things ordinarily that the coin should not be subjected to. In some of the videos that were circulating, we have seen someone using excessive power – not sure if it was a hammer, but something much heavier just trying to test if the coins are strong,” he said during a repo rate announcement in Windhoek on Wednesday.
The coin series, introduced last year, has drawn criticism from the public, with complaints about rust and reduced durability.
Uanguta said no currency is indestructible.
“Just the same way that you see the note, if you tear the note, it can be damaged. Exactly the same applies to the coins as well,” he said.
He said the bank is investigating the concerns.
“We have received and observed the concern and we are taking some of these coins through laboratories. We subject them to testing,” he said.
Last week, the central bank confirmed it is aware of concerns about the coins, including reports of corrosion after exposure to water.
At that time, its deputy director for corporate communications and sustainability, Naufiku Hamunime, said the bank follows set production standards.
She said quality checks are applied during production but noted that damage can occur after coins enter circulation.
The central bank has previously warned that damaging legal tender is a criminal offence, punishable by a fine of up to N$50 000 or imprisonment of up to three years.
Meanwhile, Economist Johannes Kalimba said visible wear on coins could affect public confidence.
He said deterioration could increase replacement costs and influence how people use money.
Member of parliament George Kambala said the issue raises concerns about trust in the monetary system. He said public perception is important.
However, BoN said the coins meet international standards and urged the public to handle currency responsibly while assessments continue.
