South Africa’s New Coin Design Fails to Impress Citizens: “We Are Wasting Money…Making This Money”

• A series of coins with a new look is set to be phased into South Africa’s economy from 1 January next year
• The South African Reserve Bank gazetted the design, dimensions, and compilation of the new coin series
• Citizens are unimpressed by the move, with some saying the government should focus its attention elsewhere

JOHANNESBURG - The new year is set to bring about several changes, including a facelift of South Africa’s coins.

The new-look currency is in the final steps of being formalised to begin circulation. The coins will feature several creatures, such as a loerie, a whale and a bee.

According to TimesLIVE, the South African Reserve Bank gazetted the coin series’s design, dimensions, and compilation.

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Many citizens are unimpressed by the move, with some saying the government has more pressing matters to handel. Here’s what citizens are saying:

@Life_in_4k said:

“What on earth are we gonna do with a new 10c?”

@wtfiwonder commented:

“But why?”

@tshivhelevhele posted:

“Do we really need 10 cents mara?”

@PharidahMachaka added:

“How are these coins going to help the bad economic state we are facing?”

Business Insider South Africa reported that earlier this year, the government announced it would change the language on coins. The proposal was for the currency to reflect the official languages.

The new coins will be phased in and replace South Africa’s current ones.

Zimbabwe plans to sell 22-carat gold coins to assist struggling economy, after losing dollar value

Briefly News also reported that Zimbabwe will start selling gold coins to ease the country’s crumbling economy and inflation. The central bank said the coins would be available on sale from Monday, 25 July, in local currency, US dollars and other foreign currencies.

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Governor John Mangudya said the Mosi-oa-tunya coin, which is named after the Victoria Falls, can be converted into cash. TimesLIVE reported that the gold coins would contain one troy ounce of gold.

They will be sold by Fidelity Gold Refinery, Aurex and local banks. The coins will be 22-carat and can be identified by a serial number, and can be easily converted. They can be traded locally and internationally and used to transact. The coins can also be used as security for loans and credit facilities.

Source: Briefly News