During his Chairmanship, he also became the Governor of the South African Reserve Bank and the Company started printing banknotes for South Africa for the first time in 1963. This was done in partnership with Bradbury Wilkinson, a British company who provided the necessary technical expertise and seconded people to South Africa to work in key positions to get the Company off the ground.ĭr Gerhard Rissik was appointed the first Chairman of the newly created South African Bank Note Company (Pty) Ltd. was established on by the South African Reserve Bank.
The South African Bank Note Company (Pty) Ltd. THE SOUTH AFRICAN BANK NOTE COMPANY (PTY) LTD. All banknotes were to be undersigned by the existing Governor of the Reserve Bank.Ģ. In 1948 the Zuid-Afrikaanse Reserwebank became the South African Reserve Bank. After 1932 South African Reserve Bank notes and coins became the only unrestricted means of payment. Inġ928 Dutch was replaced with Afrikaans. On the one side it was in Dutch and on the other English. The Zuid-Afrikaanse Reserwebank was founded on 30 June 1921 and immediately monopolised the right to distribute money in the Union of South Africa. After 1803, all banknotes were printed abroad and took on the now traditional appearance. They featured a government fiscal hand-stamp indicating their validity and the authority date of the issue. As there was no printing press, all notes until about 1803 had to be hand written. The first form of trade between the locals and the colonists was the exchange on a barter basis of certain items such as copper, beads, tobacco, blankets, brandy and novelties.ĭuring the last quarter of the 18 th century paper money was, for the first time, introduced to the Cape. In 1652, when Jan van Riebeeck arrived by boat in Table Bay, the local people saw the possession of live stock as a sign of wealth.
So where did it all start here in South Africa. Money is what the economy of the country is all about, it's what makes the world go round. Money forms the basis of small transactions in our day to day lives. SOUTH AFRICAN BANK NOTE COMPANY (PTY) LTD.
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