The Central Bank of Lesotho (CBL) has launched new maloti banknotes to safeguard the value of the currency and build the confidence of its users, the new banknotes will become legal tender on December 23, 2021, the event was held in Maseru.
The Second Deputy Governor at CBL, Ms. Mathabo Makenete said it is with pride that they announce the new Maloti banknotes with new upgraded and enhanced security features that encompass the visually impaired persons to also have the ability to identify the currency without any struggle like they used to before.
She said the security features are upgraded periodically looking at the currency’s value from the time it was upgraded, and to avoid the use of fake currency, she said with the use of highly sophisticated technology people use nowadays, it is of great importance that the currency is upgraded often to secure it.
She noted that the use of fake currency results in a financial loss that some people end up being on the wrong side of the law, adding that with the enhancements, they hope that Basotho will continue to have confidence in it.
The CBL Governor, Dr Retsélisitsoe Matlanyane elaborated more on the new features, how the new currency will be identified from the old one, even to the counter fade as it always becomes a challenge during the early stages of the new currency.
She said they have widened the new features that will be easy to identify with the naked eye, and the visually impaired are also catered for through the sense of touch, she said it has been tough on them to come up with this kind of system but they were compelled to do it responding to the outcry of the visually impaired persons.
She said with the banknote industry since 2010, there have been new innovations especially the security part of it, adding that they have not touched anything on the looks of currency, only the security part was enhanced, she talked of the new varnish that is antiviral for saver handling of the currency, the security thread that used to cut across the current portrait of King Letsie III has been relocated, the tactual marks found on the right edge of the notes for the visually impaired persons, the silver stripe replaced with security thread to mention a few.
Dr Matlanyane also mentioned that they have observed that Basotho are reluctant to engage themselves in digital ways of using money that is meant to reduce the risk of handling cash therefore, they had to upgrade and enhance the security features.
She said they will go out to make educational campaigns to the public to make them aware of the new security features.
She also mentioned that the old banknotes will continue to function together with the new one until the old one fades out, she pleaded with the public to accept the new changes for their own benefit as they are trying to protect their family’s economy.
Source: LENA 23/12/2021