The South African Reserve Bank (SARB) has denied reports that a security thread, which has been found lifting off on some of the Mandela bank notes, means the notes are "defective" and pose a security risk.
A number of media have reported that an important security feature on the new Mandela banknotes has been found to be defective. The visible security thread that is supposed to be embedded in the note was reportedly found to be easily lifting off on some of the lower denomination notes.
SARB head of communication Hlengani Mathebula acknowledges the bank has received isolated complaints of the security thread lifting off, but denies this is due to the thread being faulty. "The thread is lifting up on notes that have been over-used. It is an issue of over-use and not an issue of the notes being defective," he says.
Mathebula emphasised that while the bank has received a few complaints, no security threat has been established. "The security thread is not a major security feature. It's one of the many features that are in the note."
The Mandela bank notes, that were launched in November last year, host a number of security features including raised printing, micro-printing that can only be seen using a magnifying glass, a watermark and colour-changing ink.
Mathebula also slammed media reports stating the security thread embedded in the note is produced by a German company and the R20, R50 and R200 notes are printed by a Swedish company.
"I don't know where this information comes from. Not in a single day has the Reserve Bank ever said what part of the note is being produced where. We don't disclose where the notes are produced."
He said the South African Bank Note Company is responsible for producing the bank notes, but details surrounding the production will not be discussed.
Mathebula says the SARB will not be recalling bank notes and encourages the public to continue using bank notes that have the thread lifting up, as it remains legal tender. "Money needs to go through the system and continue to be circulated. When the bank notes get back to us, we check it and if it is fit for use, we put it back out."
He reiterated that there is "nothing strange" about the matter. "This happens all over the world with bank notes that are over-used - with the dollar, the euro, everywhere. There is nothing strange about this issue."
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