- Tsaone Segaetsho
The central bank has announced that the long-anticipated commemorative P50 banknote will officially enter circulation on Friday this week.
The banknote was launched by President Duma Gideon Boko during the Bank of Botswana’s Golden Jubilee celebrations on 12 September last year.
Its initial introduction generated significant media attention and public uncertainty, particularly regarding the status of the existing P50 banknote bearing the portrait of Botswana’s first President, Sir Seretse Khama. The central bank subsequently suspended circulation of the commemorative note for security reasons, amid concerns that members of the public might retain it as a collectible rather than use it as legal tender.
The prolonged hoarding of banknotes presents a challenge to the effective functioning of a monetary system, particularly from a central banking perspective. Treating currency as a souvenir—especially over extended periods or in significant volumes—can lead to several drawbacks, including erosion of purchasing power due to inflation, exposure to physical loss or damage, and potential safety or legal risks.
“The commemorative banknote is legal tender, albeit of limited quantity (limited edition), and will circulate alongside the existing P50 banknote that bears the portrait of the first President of the Republic of Botswana, Sir Seretse Khama. The note will remain in use until it is taken out of circulation through natural attrition of banknotes, as it will not be reprinted, unlike the hitherto current note (bearing the portrait of Sir Seretse Khama),” the central bank said in a statement on Wednesday.
According to the Bank of Botswana (BoB), the commemorative banknote incorporates elements that reflect Botswana’s heritage and national achievements, while maintaining the tourism theme present in the current P50 banknote.
“Its portrait features the Bank’s redeveloped headquarters building (PulaThebe Building) and the Motswedi diamond, the second-largest diamond ever discovered in the world, unearthed at Lucara’s Karowe Diamond Mine in Botswana. The PulaThebe Building reflects the Bank’s stewardship of the country’s financial system, while the diamond underscores the significance of minerals to the national economy,” BoB said.
The reverse of the banknote showcases Botswana’s 2024 Olympians—Letsile Tebogo, Bayapo Ndori, Busang Collen Kebinatshipi and Anthony Pesela—symbolising national achievement, pride and sporting excellence, the central bank added.
The commemorative P50 banknote retains the core security features of the existing circulating note, with additional enhancements to strengthen anti-counterfeiting measures. “Specifically, the holographic strip has been replaced with an animated colour-shifting thread that displays an animated effect of a running athlete.
“Apart from the distinctive new features celebrating the Golden Jubilee mentioned above, the overall look and feel of the banknote remains consistent with the circulating P50 banknote, including the braille dots for the visually impaired, albeit with colour differentiation. It also bears the signatures of the Minister of Finance, Mr Ndaba Nkosinathi Gaolathe, and former Governor Mr Cornelius K. Dekop,” the bank said.
The central bank further confirmed that distribution will be conducted through commercial banks nationwide to ensure broad public access.
“The Bank encourages the public to familiarise themselves with the new design and its security features,” BoB said.
