The Bank of Namibia (BoN) has announced plans to introduce a new series of banknotes and coins in June 2025. This initiative, revealed by Governor Johannes !Gawaxab, aims to enhance security, durability, and national representation while ensuring a smooth transition for Namibian citizens.
The Bank of Namibia’s new banknotes and coins will officially enter circulation in mid-2025, coexisting with the current currency to allow for a gradual transition.
Governor !Gawaxab stated that the new currency series will feature advanced security enhancements, ensuring that both banknotes and coins remain modern, resilient, and secure.
“This proactive approach reflects the Bank’s commitment to innovation, resilience, and security in its financial system and ensures that our currency remains a robust and reliable symbol of our nation’s identity and economic strength,” !Gawaxab said.
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He added that the current Namibian banknote series has been in circulation since 2012 and the coins have never been upgraded since their first issuance in 1993. According to !Gawaxab, a review every six to eight years is required to maintain currency security, durability, and cost-effectiveness.
“The need for the Bank to undertake a minor upgrade on the current banknote series and a complete overhaul of the coin series has been identified. In terms of banknotes, it became imperative to enhance their security features to remain abreast of technological advancements while protecting the currency against counterfeiting. For the coins, the objective is to modernise the current coin series, allowing for the incorporation of state-of-the-art security features.” he said.
Revamped Coin Series
This will be the first major update to Namibia’s coins since their introduction in 1993. The current denominations—5c, 10c, 50c, N$1, and N$5—are made from nickel-plated steel and aluminum bronze.
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Commemorative N$60 Banknote Honoring Dr. Hage G. Geingob
As part of its currency modernization efforts, the BoN has already unveiled a special N$60 banknote dedicated to the late Dr. Hage G. Geingob, Namibia’s former president who passed away in February 2024. Launched on March 5, 2025, this commemorative note honors his contributions to Namibia’s political and economic development.
Described as a “masterpiece of artistry and innovation,” the N$60 note features advanced security elements and intricate designs. It is already in circulation alongside other denominations, including N$10, N$20, N$30, N$50, N$100, and N$200.
Additionally, the Namibian Dollar (N$) remains pegged 1:1 to the South African Rand (ZAR), which continues to be legal tender in Namibia. The new currency series is expected to strengthen confidence in the N$ while maintaining economic stability.