On 27 February 2014, Bank of Botswana has introduced 2014 new circulation coins produced by The Royal Canadian Mint. The Bank of Botswana converts its entire coinage system to multi-ply plated steel technology.
The Bank of Botswana’s new multi-ply plated steel coin series consists of the following denominations: 5 pula, 2 pula, 1 pula, 50 thebe, 25 thebe, 10 thebe, 5 thebe. These coins were officially declared legal tender by His Excellency the President Seretse Khama Ian Khama at a special ceremony to celebrate the nation’s new coin series.
The current coin will be exchanged for new coin and/or bank notes at commercial banks over a period of six (6) months following the launch of new coin. What will then be old coin will be demonetised and exchangeable for equivalent value only at the Bank of Botswana in Gaborone and Francistown for a period of five (5) years.
The multi-ply plated steel technology by The Royal Canadian Mint consists of alternating layers of metals such as nickel, copper and brass plated over a steel core. Today, this proven technology enjoys success all over the world and has been adopted by over 30 countries.
“An industry leader and innovator focused on delivering the best quality and value to our customers, the Mint is pleased to apply its unique expertise to converting all of Botswana’s circulation coin denominations to a technology which stands out for its exceptional combination of durability, security and value,” said Ian E. Bennett, President and CEO of the Royal Canadian Mint.
“We are extremely proud that these new multi-ply plated steel coins, produced at our Winnipeg facility, will support Botswana’s daily trade and commerce with a level of reliability and confidence which is second to none.”
The Mint’s newly expanded Winnipeg plating facility has added new capacity to plate coins with a multitude of proprietary, industry leading technologies, including multi-ply plated steel, single layer double-annealed nickel and other advanced technologies which respond to the ever changing needs of a diverse and dynamic international market. With this new plating facility and a permanent research and development centre devoted to advancing all aspects of circulation coin manufacturing, the Mint is confident that it will meet the goal of growing its foreign business to own a 15 percent share of the global plated coin market by 2020.
